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$ 415,000
Est. payment /mo
Price Dropped by $40K
613 W Church ST Champaign, IL 61820
8,276 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12551294
Year Built 1890
Annual Tax Amount $5,868
Tax Year 2024
Lot Size 8,276 Sqft
Lot Dimensions 60X139
Property Sub-Type Multi Family 5+
Property Description
Turnkey 9-Unit Investment Property with Proven Income - Champaign, IL Strategically located near Downtown Champaign, Westside Park, and adjacent to Champaign Central High School, this fully renovated 9-unit building offers immediate, stable cash flow backed by documented performance. The property consists of six SRO units and three studio apartments, each featuring a private bathroom, creating an efficient, high-demand unit mix that supports consistent occupancy. The asset produced $56,400 in gross income over the past 12 months (~$4,700/month average collected), with current leases supporting $5,400/month at full occupancy following completion of all renovations in 2024. This is not a projection; repairs and leasing adjustments are complete, positioning the next owner to step into stabilized operations. Recent capital improvements include major roof repairs, new electric water heater, updated kitchenettes and bathrooms, fresh interior paint, secure electronic entry locks, camera systems, and the addition of an on-site laundry room already in service. Separate electric meters further streamline management and expense control. This is an ideal opportunity for investors seeking a true turnkey, workforce-housing asset with durable demand, modernized systems, and immediate income in one of Champaign's most accessible rental locations.
Location
State IL
County Champaign
Area Champaign, Savoy
Zoning MULTI
Interior
Cooling Window Unit(s)
Fireplace N
Building
Dwelling Type Multi Family 5+
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Listed by Mario Reyes of eXp Realty-Champaign