TITLE:
Downtown Apartment Buildings A+ Campustown
CONTROL:
Owner
VALUE:
$1,250,000
LOAN:
$890,000
EQUITY:
$360,000
TYPE:
Multi-Family
ADDRESS:
405 N State, Champaign, Illinois
BENEFITS TO NEW OWNER:
Stabilized downtown location, A+ location, brick apartment buildings,. Discount sale and lease buy back wihtin 12-36 months.
GROSS SCHEDULED INCOME:
$155,000 Projected
VACANCY LOSS:
$18,360
GROSS EFFECTIVE INCOME:
$136,640
EXPENSES:
$45,190
NOI:
$91,450
DEBT SERVICE:
$74,000
CASH FLOW:
$17,450
CAP RATE:
7.32%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$600,000
$4,920
7%
12/15/2026
No
LOAN 2
$290,000
$1,870
2%
01/01/2026
No
BENEFITS SOUGHT:
Recapitalizing the debt with JV equity partner or open to selling at discount.
COUNSELOR:
Quentin McNew
Tin Cup RV Park
501 N Neil, Suite 2
Champaign, Illinois, 61820
Phone: 2175524062
Email quentin@mcnewcapital.com
