1122 N Madison Street new Save Request In-Person Tour Request Virtual Tour
Bloomington,IN 47404-3448
Key Details
Property Type Condo
Sub Type Apartment Building
Listing Status Active
Purchase Type For Sale
Square Footage 4,416 sqft
Price per Sqft $147
MLS Listing ID 202538505
Style Two Story
Bedrooms 9
Full Baths 7
Half Baths 1
Year Built 1945
Annual Tax Amount $1
Tax Year 2025
Lot Size 8,712 Sqft
Property Sub-Type Apartment Building
Property Description
Prime Investment Opportunity! Don't miss this rare chance to own a well-located multi-unit property at the corner of Madison and 16th Street. Zoned RM - Residential Multi Family. The property includes six 1-bedroom/1-bath apartments plus an attached 4-bedroom/1.5-bath house. Income Potential: Fully rented, the property generates approximately $6,350 per month. Tenant-Paid Utilities: Tenants are responsible for their own utilities, minimizing owner expenses. Appliances Included: Each apartment is equipped with a refrigerator and range; the house includes a refrigerator, range, washer, and dryer. Permits & Compliance: Occupancy permit for 35 in place and valid through 2/1/2028. Zoned RM. Showing Availability: Two apartments are currently vacant and available for immediate showings. Additional unit showings may be arranged for serious buyers. This property combines strong cash flow potential with a highly desirable location—perfect for both seasoned investors and those looking to expand their portfolio. The owner is open to bundling this property with other properties in his portfolio.
Location
State IN
County Monroe County
Area Monroe County
Zoning RM - Residential Multifamily
Rooms
Family Room 750 x 750
Dining Room 0 x 600
Kitchen , 750 x 750
Interior
Flooring Carpet,Vinyl Tile,Wood
Fireplaces Number 3
Laundry , 8
Exterior
Garage Spaces 1.0
Fence None
Amenities Available Off Street Parking,Near Walking Trail,Countertops-Laminate
Waterfront Description Creek
Building
Lot Description Corner,0-2.9999
Story 2
Structure Type Brick,Other
New Construction No
Schools
Elementary Schools Fairview
Middle Schools Tri-North
High Schools Bloomington North
School District Monroe County Community School Corp.
Others
Virtual Tour https://tours.janedanielsphotography.com/2353195?idx=1