TITLE:
250k Tax Deductions Downtown Apartment Building A+ Location
CONTROL:
Owner
VALUE:
$1,300,000
LOAN:
$800,000
EQUITY:
$500,000
TYPE:
Multi-Family
HAVE:
I have option to purchase by December 2026 and looking to partner with 1031 exchange money, JV partner, and can work buy back within 12-36 months. Can structure as debt if want cash flow or equity JV if you need depreciation tax benefits.
ADDRESS:
405 N State, Champaign, Illinois
BENEFITS TO NEW OWNER:
Tax deductions $250,000 with cost segregation study. Stabilized downtown location, A+ location, brick apartment buildings.
GROSS SCHEDULED INCOME:
$162,000 Projected
VACANCY LOSS:
$18,360
GROSS EFFECTIVE INCOME:
$143,640
EXPENSES:
$53,190
NOI:
$90,450
DEBT SERVICE:
$74,000
CASH FLOW:
$16,450
CAP RATE:
6.96%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$800,000
$4,920
7%
12/15/2026
No
LOAN 2
$290,000
$1,870
2%
01/01/2026
No
BENEFITS SOUGHT:
Option to purchase contract that ends in December 2026
CAN ADD:
RVs, vacant land, consulting, and single family home rentals.
REMARKS:
New roof May 2026. Discount sale and lease buy back within 12-36 months to fit someones timeline. Can do exchange, sale, and option to purchase back to balance someones equities.
COUNSELOR:
Quentin McNew
Tin Cup RV Park
501 N Neil, Suite 2
Champaign, Illinois, 61820
Phone: 2175524062
Email quentin@mcnewcapital.com
