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    1122 N Madison St Bloomington, IN 47404

    Sponsored
    For Sale
    $650,000

    Apartment Building - Bloomington, IN

    Property size:
    4,416 SF
    Lot size:
    0.20 Acres
    Days on Market:
    43
    Last Refresh:
    Jan 7 at 6:06 am

    Property Features for 1122 N Madison St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    9
    Bathrooms
    8
    APN
    53-05-33-204-079.000-005
    Parking features
    Off Street
    EntryLevel
    Main,Upper
    Exterior features
    Off Street Parking, Near Walking Trail, Countertops-laminate, None
    Basement Y/N
    1
    Appliances
    Dryer, Microwave, Range
    Size
    4,416 SF
    Lot size
    0.20 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Floors in Building
    2
    Number of units
    7
    Flooring type
    Carpet, Tile, Vinyl, Wood
    Building materials
    Brick, Other
    Architectural style
    Other

    RE/MAX Acclaimed Properties (812) 332-3001 [email protected]

    Listing agent Alice Chastain (812) 332-3001 License #RB14038736

    Listing date Nov 26, 2025

    MLS# 202538505 Listing URL

    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.

    Overview

    Bloomington Multi-Unit Investment Opportunity

    Located at the corner of Madison and 16th Street, this multi-unit property presents a prime investment opportunity. Zoned RM - Residential Multi Family, the property includes six 1-bedroom/1-bath apartments and an attached 4-bedroom/1.5-bath house. Each apartment is equipped with a refrigerator and range, while the house includes a refrigerator, range, washer, and dryer. The property generates approximately $6,200 per month when fully rented. Tenants are responsible for their own utilities. The property has an occupancy permit for 35 in place and valid through 2/1/2028. Two apartments are currently vacant and available for immediate showings, with additional unit showings available for serious buyers. The property size is 4416 square feet on a lot of 0.2 acres. The owner is open to bundling this property with other properties in his portfolio. The property is located in Bloomington, IN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Law Firm Dental Office Restaurant Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bloomington
    County
    Monroe
    State
    Indiana
    Longitude
    -86.537384
    Latitude
    39.177576

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    FAQs

    What type of property is this?
    Apartment building - Multi-unit property with strong income potential in a desirable location.
    Where is this apartment building located?
    The property is located at 1122 N Madison St Bloomington, IN.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - High Income Potential: Generates approximately $6,200 per month when fully rented.; - Multi-Unit Property: Includes six 1-bedroom/1-bath apartments plus an attached 4-bedroom/1.5-bath house.; - Tenant-Paid Utilities: Minimizes owner expenses.
    (812) 322-6256
    Request Owner's contact information
    1122 N Madison St Bloomington, IN 47404
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    Bloomington, IN 47404
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1122 N Madison St Bloomington, IN 47404
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