Four-Unit Residential Income
1024 N Country Club Drive, Bloomington, IN 47403
MULTI_FAMILY - Bloomington, IN
Type:Single Family Residence
Property size:
4,750 SFLot size:
1.69 AcresPrice / SF:
$115/SF- Added:
- Apr 26, 2026
- Days on Market:
- 71
- Last Refresh:
- Jul 5 at 4:06 am
Property Features for 1024 N Country Club Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 9
- Bathrooms
- 5
- Rooms
- Bedroom 6, Bathroom 4, Bedroom 3, Bedroom 9, Bedroom 7, Basement, Bedroom 2, Bathroom 1, Bathroom 5, Bathroom 3, Bathroom 2, Bedroom 8, Bedroom 4, Bedroom 5, Bedroom 1
- Parking
- 8
- Parking features
- Garage, Off Street
- Fireplace
- 1
- Basement
- Block
- Standard status
- Active
- APN
- 53-08-08-403-001.000-009
- Size
- 4,750 SF
- Lot size
- 1.69 Acres
Taxes and HOA fees
- Tax Year
- 4049
- Tax Description
- 015-00905-00 Broadview Park 1st S1/2 L201; 015-23245-00 Broadview Park 1st S1/2 L202; 015-23240-02 BROADVIEW PARK N1/2 LOT 202 105'X 206.5' PLAT 202A ANNEXED 3-1-03 FROM 014-23240-02; 015-00895-00 BROADVIEW PARK PT LOT 201 PLAT 201B ANNEXED 3-1-03 FROM 014-00890-00 additional Parcel # 53-08-08-403-019.000-009 and 53-08-08-403-054.000-009
- Tax Annual Amount
- 3000
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1950
- Number of units
- 4
- Flooring type
- Wood, Carpet, Tile, Laminate
- Roof type
- Metal, Shingle, Rubber
- Architectural style
- Other
Listing agent Brandy Holdeman License #RB14044117 (812) 325-7685
Listing office Realty Professionals 328 S Walnut St., Ste. 6, Bloomington, IN (812) 650-3600
Listing date Apr 26, 2026
MLS# 202615037
Copyright © 2026 Indiana Uplands Realtor® Association. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 1.69‑acre property with 4 rental units and 4 separate deeds, including homes and two vacant R2‑zoned lots.
- Lease details: 1016 Country Club (1 bed/1 bath) rented for $895/mo until July 22, 2027.
- Lease details: 1022A Country Club (2 bed/1 bath) with carport rented for $950/mo until July 22, 2027.
- Upstairs apartment at 1022A Country Club (2 bed/1 bath) leased for $1,250/mo until July 24, 2027; recently remodeled with new paint and flooring and updated dishwasher.
- Vacant lots: .50 acre (R2) and .33 acre (R2) included under separate deed.
- Parking/storage includes a 4‑car garage (shared) plus a large 1‑car garage/shed with loft area; sold as‑is.
Overview
This for-sale residential income property totals 1.69 acres and includes four rental units held under four separate deeds. The portfolio features a 1-bedroom, 1-bath home and two 2-bedroom, 1-bath apartments, along with a 4-bedroom, 2-bath residence. Two of the deed parcels are described as vacant lots zoned R2, while the remaining deed covers the balance of the property and contains three rental units. The 2-bedroom, 1-bath upstairs apartment was recently remodeled with new paint and flooring and an updated dishwasher.
The property is sold as-is and includes additional onsite improvements. A carport is associated with the 1-bedroom unit, and a large shared 4-car garage serves the tenant in the upstairs apartment and the tenant in the home. Additional structures include a 4-car storage shed, as well as a large 1-car garage/shed with loft area.
For investors, this configuration offers multiple income-producing units with a mix of occupied and vacant, with the vacant lots zoned R2 providing optionality within the existing ownership structure. Buyers considering redevelopment should note that the current improvements can be demolished and rebuilt, per the seller’s remarks, while leases and month-to-month terms are already in place for several units.
The property is sold as-is and includes additional onsite improvements. A carport is associated with the 1-bedroom unit, and a large shared 4-car garage serves the tenant in the upstairs apartment and the tenant in the home. Additional structures include a 4-car storage shed, as well as a large 1-car garage/shed with loft area.
For investors, this configuration offers multiple income-producing units with a mix of occupied and vacant, with the vacant lots zoned R2 providing optionality within the existing ownership structure. Buyers considering redevelopment should note that the current improvements can be demolished and rebuilt, per the seller’s remarks, while leases and month-to-month terms are already in place for several units.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.4k | $13.56 |
| − Vacancy | −$3.4k | −$0.72 |
| EGI | $61.0k | $12.84 |
| − OpEx | −$18.3k | −$3.85 |
| NOI | $42.7k | $8.99 |
4,750 SF · lease $13.56/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$609.8K
$533.6K – $711.5K
NOI $42,688 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$553.8K
$484.6K – $646.2K
NOI $38,769 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$928.3K
$812.3K – $1.08M
NOI $64,983 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Bloomington
- County
- Monroe
- State
- Indiana
- Longitude
- -86.54632621
- Latitude
- 39.13683335
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Four rental units across separate deeds, including remodeled interior, plus included garage and storage improvements.
Where is this quadplex located?
The property is located at 1024 N Country Club Drive Bloomington, IN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1.69‑acre property with 4 rental units and 4 separate deeds, including homes and two vacant R2‑zoned lots.; Lease details: 1016 Country Club (1 bed/1 bath) rented for $895/mo until July 22, 2027.; Lease details: 1022A Country Club (2 bed/1 bath) with carport rented for $950/mo until July 22, 2027.
