Paul Proano Of Coldwell Banker Represents Sale Of 78-Unit Multifamily Asset In Urbana For $5.1M

The multifamily property located at 1301, 1303 Mitchem Drive and 2004, 2008, 2006, 2008 & 2017 Vawter Street in Urbana consists of 78 units. The property spans a total of 40,000 square feet and was sold for a total of $5,100,000, resulting in a price per unit of $65,384 and a price per square foot of $127.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,100,000
• Units: 78
• Square Footage: 40,000
• Price Per Unit: $65,384
• Price Per Square Foot: $127
• Broker: Paul Proano - Coldwell Banker
• Lender: Roy Schultz - American Commercial Bank & Trust

The transaction was facilitated by Paul Proano representing the seller, while Roy Schultz acted as the lender in this sale. Each played a crucial role in the execution of the deal, ensuring that all aspects were addressed efficiently throughout the process.