1306 Silver Street Urbana, IL 61801
1306 Silver Street presents a fully renovated, value-add multifamily opportunity in the heart of Urbana, Illinois. The 12,086 square foot property features a highly desirable unit mix dominated by spacious 2BR/1BA apartments, a format that continues to experience strong and consistent demand throughout the Champaign-Urbana rental market. The building has undergone a complete rehabilitation, significantly reducing near- and long-term capital expenditure risk. Improvements include a new roof, all new windows and exterior doors, new furnaces and air conditioning units, freshly tuckpointed brick exterior, and fully renovated kitchens and bathrooms throughout. All units feature new appliances, creating a modern, move-in-ready offering for tenants. Current rents remain below market, providing immediate upside through rent stabilization while still delivering solid in-place cash flow from day one. At the asking price, the property supports an advertised pro forma cap rate near 8.0 rate, with additional NOI growth achievable as rents are brought to market levels. This offering is well-suited for both first-time multifamily investors and experienced operators seeking a turnkey asset with strong fundamentals, limited deferred maintenance, and clear income growth potential in a stable, institutionally supported market.
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Listing Office: Nate Evans Group
Listing Office Phone: 217-239-7113
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Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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