Stapleton Townhomes 1136 W 17th St 20 Unit Apartment Building $4,250,000 ($212,500/Unit) 6.75% Cap Rate Bloomington, IN 47404

Marcus & Millichap is pleased to present the exclusive offering of Stapleton Townhomes, a 20-unit, 65-bed townhome community located at 1136 W 17th Street in Bloomington, Indiana.? This strategic location offers residents immediate access to Indiana University’s primary academic, athletic, and entertainment corridors.? In the winter months, the property benefits from its proximity to Memorial Stadium, where all IU bus routes stop, providing convenient access for students commuting to class.?
The property has undergone significant capital improvements totaling approximately $38,400 per unit.? $35,000 was invested towards interior upgrades.? These upgrades deliver updated interiors, modernized finishes, and enhanced appeal relative to competing inventory.? An additional $106,000 was spent on a property sign, patio reconstruction, HVACs, parking lot reseal & restripe, security cameras, tree trimming, exterior paint, and more.? The improvements materially reduce near-term capital risk for incoming ownership while supporting continued rental growth and long-term competitiveness.?
The combination of stabilized operations, meaningful capital investment, and proximity to IU’s academic and athletic anchors creates a compelling opportunity to acquire renovated, walkable student housing in one of the Midwest’s most dynamic college markets.? The trajectory of Bloomington and Indiana University has shifted meaningfully over the past 12 months.? The football program has brought renewed national attention to the university not seen since the Bob Knight era of the 1980s, further elevating the institution’s brand visibility and reinforcing long-term demand fundamentals.?