916 N College Ave
Bloomington, IN 47404
3Square Apartments · Multifamily Property For Sale
·
97 Units
Property Facts
| No. Units | 97 | Lot Size | 0.60 AC |
| Property Type | Multifamily | Building Size | 50,000 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 2020 |
| Building Class | B | Parking Ratio | 1.5/1,000 SF |
| No. Units | 97 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.60 AC |
| Building Size | 50,000 SF |
| No. Stories | 4 |
| Year Built | 2020 |
| Parking Ratio | 1.5/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Wi-Fi
- Freezer
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Business Center
- Fitness Center
- Laundry Facilities
- Furnished Units Available
- Grill
- Package Service
- Trash Pickup - Door to Door
- Wi-Fi
- Bicycle Storage
- Community-Wide WiFi
- Lounge
- Maintenance on site
- Online Services
About 916 N COLLEGE AVE , BLOOMINGTON, IN 47404
910 - 916 N. College is a non-restrictive Student Housing and Co-Living asset within walking distance to Indiana University, Bloomington. The University services over 40,000 students and a high market occupancy of over 98%. This opportunity allows for the lowest class A rents in the market at the highest rent per square foot for the owner. Because of this, the asset will be well positioned to be fully occupied in any market. This will provide a new owner stabilized cash flow with great return metrics in a market that has seen enjoyed over 3% rent growth annually. The property will have a total of 97 bedrooms all with their own private baths, at $850/month in rent. With hotel like amenities, rent will cover utilities, cable, washer/dryer, cleaning, Wi-Fi, and supplies in the common kitchen. This pricing structure completely undercuts the competition in the 1 bed/1 bath non-co-living space, whose average rents are $1,200 per month without utilities and cleaning services. This new asset class has enjoyed major success in large cities and University towns across the Country.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 97 | $925.00 | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $5,283,900 | |
| Land Assessment | $1,045,500 | Total Assessment | $6,329,400 |
Property Taxes
