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$ 389,000
Est. payment /mo
Active
503 N State Street Champaign, IL 61820
4,142 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 4,142 sqft
Price per Sqft $93
MLS Listing ID 12343981
Year Built 1922
Annual Tax Amount $3,169
Tax Year 2024
Lot Size 4,356 Sqft
Lot Dimensions 66 X 66
Property Sub-Type Multi Family 5+
Property Description
Welcome to 503 N State in downtown Champaign - a fully remodeled, all-brick 5-unit investment property offering an outstanding opportunity for strong, reliable rental income. This fully leased building features three spacious one-bedroom, one-bath units and two two-bedroom, one-bath units, all recently updated with significant improvements. Major upgrades include brand-new vinyl windows throughout and stainless steel appliances in every kitchen, enhancing both energy efficiency and tenant appeal. Each unit is separately metered for electricity, and tenants pay an additional $110 per-unit monthly utility fee on top of their base rent to cover water, sewer, gas, and trash services. With its classic brick exterior, modern updates, and unbeatable downtown location close to shops, dining, and entertainment, 503 N State is a turnkey addition to any rental portfolio.
Location
State IL
County Champaign
Zoning MULTI
Rooms
Basement Finished
Interior
Cooling Window Unit(s)
Fireplace Y
Exterior
View Y/N true
Roof Type Composition
Building
Foundation Concrete Perimeter
Structure Type Brick,Cedar
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Listed by Joe Zalabak • KELLER WILLIAMS-TREC