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1016 W Country Club Dr 4 Unit Apartment Building Offered at $625,000 Bloomington, IN 47403
Investment Highlights
- Good rental history
- Garages that could be rented sepretley for storage
- 2 vacant lots included
Executive Summary
1.69 acres with a total of 4 rental units and 4 separate deeds. Deed one is a 1 bedroom, 1 bath home located at 1016 Country Club leasedfor $895 per month until July 22, 2026. This home has an unfinished basement and sits on .42 acres. Deed two is a 1/2 acre vacant lot zoned R2.Deed 3 is a .33 acre vacant lot also zoned R2. Deed 4 is the balance of the property with .44 acres and 3 rental units. There is a 2 bedroom 1 bath at1022A Country Club with a car port which is leased for $950 per month until July 22, 2026. There is also a 2 bedroom 1 bath upstairs apartment leasedfor $1250 per month until July 24, 2026. This was recently remodeled with new paint and flooring and updated dishwasher. Below this apartment is alarge 4 car garage that is shared between this tenant and the tenant in the home. There is also a 4 bedroom 1 bath home with a long term tenant that ison a month to month lease. This unit is very under rented for $910.52 per month. In addition there is a small storage shed and a large 1 car garage/ shedwith loft area. Property being sold as-is. Would make a great investment property or could be demolished and something new built in its place.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$48,060
|
$10.68
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$48,060
|
$10.68
|
| Taxes |
$10,880
|
$2.42
|
| Operating Expenses |
$1,200
|
$0.27
|
| Total Expenses |
$12,080
|
$2.68
|
| Net Operating Income |
$35,980
|
$8.00
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $48,060 |
| Annual Per SF | $10.68 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $48,060 |
| Annual Per SF | $10.68 |
| Taxes | |
|---|---|
| Annual | $10,880 |
| Annual Per SF | $2.42 |
| Operating Expenses | |
|---|---|
| Annual | $1,200 |
| Annual Per SF | $0.27 |
| Total Expenses | |
|---|---|
| Annual | $12,080 |
| Annual Per SF | $2.68 |
| Net Operating Income | |
|---|---|
| Annual | $35,980 |
| Annual Per SF | $8.00 |
Property Facts
| Price | $625,000 | Lot Size | 1.69 AC |
| Price Per Unit | $156,250 | Building Size | 4,750 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Apartment Style | Single-Family Home | Opportunity Zone |
Yes
|
| Zoning | R2 | ||
| Price | $625,000 |
| Price Per Unit | $156,250 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Apartment Style | Single-Family Home |
| Lot Size | 1.69 AC |
| Building Size | 4,750 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
| Opportunity Zone |
Yes |
| Zoning | R2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $895.00 | 696 - 850 |
| 2+1 | 2 | $950.00 | 766 |
| 4+1 | 3 | $910.00 | 850 |
| 2+1 | 4 | $1,250 | 1,960 |
1 1
Property Taxes
| Parcel Number | 53-08-08-403-001.000-009 | Total Assessment | $159,800 (2025) |
| Land Assessment | $76,200 (2025) | Annual Taxes | $10,880 ($2.29/SF) |
| Improvements Assessment | $83,600 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
53-08-08-403-001.000-009
Land Assessment
$76,200 (2025)
Improvements Assessment
$83,600 (2025)
Total Assessment
$159,800 (2025)
Annual Taxes
$10,880 ($2.29/SF)
Tax Year
2026
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1016 W Country Club Dr
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