See all 61 photos
61 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$809,900
Est. payment /mo
14 Beds
14 Baths
7,232 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type 5+ Units
Listing Status Active
Purchase Type For Sale
Square Footage 7,232 sqft
Price per Sqft $111
MLS Listing ID 964781
Bedrooms 14
Full Baths 14
Year Built 1955
Annual Tax Amount $5,674
Lot Size 1.190 Acres
Lot Dimensions 1.19 Acres
Property Sub-Type 5+ Units
Property Description
This income-producing multi-family investment property offers 12 rental units across five separate buildings on a combined 1.19 acres and is being sold with three parcels. Whether you're purchasing your first multi-unit property or expanding an existing investment portfolio, this property allows an additional upside through future rental increases. The property includes four duplex buildings located at 652-656 Hagenbuch Street, 660-664 Hagenbuch Street, 668-672 Hagenbuch Street, and 807-809 Concord Street. Each duplex contains two 2 bedrooms, 1 bath apartments. The fifth building, located at 620-644 Hagenbuch Street, is a four-unit building featuring two 2 bedrooms, 1 bath apartments and two 1 bedroom, 1 bath apartments. Combined, the five buildings offer approximately 7,232 square feet of living space and generates a rental income of $8,675 per month. Some units have been remodeled, while others present opportunities for value-added improvements. Current rents range from $425 to $900 per month, offering potential for increased income as leases renew. The property also benefits from a stable tenant base, with several long-term residents who have occupied their units for 11, 15, and more than 20 years. The sale includes 12 refrigerators and 12 ranges, allowing for a smooth transition to new ownership. The owner currently pays for water, sewer and trash service, with water/sewer expenses averaging approximately $360 per month, while tenants are responsible for all other utilities. Current annual property insurance is approximately $6,100. With a diverse unit mix, established occupancy, and opportunity to increase rental income, this well-located multi-family property presents an excellent investment opportunity for both new and experienced investors.
Location
State OH
County Champaign
Zoning Residential
Rooms
Basement Crawl Space
Interior
Heating Natural Gas
Cooling None
Exterior
Parking Features None
Utilities Available Natural Gas, Public Water, Sanitary Sewer
Building
Structure Type Asbestos,Vinyl
Schools
School District Urbana
Others
Virtual Tour https://www.propertypanorama.com/instaview/wrist/1047199#tour
Read Less Info
Listed by RE/MAX Alliance Realty
GET MORE INFORMATION