Multi-Family Space For Lease @ 1204 S Lincoln Ave

Site is 18,900 SF rectangular lot. The building is 17,255 SF. It is 3 story brick fraternity house for Kappa Delta. It is legally conforming use of the R-7 zoning, University Residential. The site is served by public utilities. 12 parking spaces on concrete lot. It was build in 1918 with significant improvements in 1927, 1963 and 1982. The unit mix consist of 1 single, 15 doubles, 4 triples, and 5 quads. It has finished basement designed with a meeting room, laundry and storage space.

The NOI is pro forma $204,000 annually($17,000/month) absolute NNN, which will make it a 7.57% cap rate.

Brief Legal: North 25 feet of Lot 2 and all of Lots 3 and 4 in Lincoln Place Subdivision, Champaign County, Urbana, Illinois
Real Estate Taxes 2019: $32,346.94 This space offers accomodations for: midrise.