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Bloomington Fourplex with Development Potential

1024 N Country Club Drive, Bloomington, IN 47403

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For Sale

$550,000

Fourplex - Bloomington, IN

Property size:

4,750 SF

Lot size:

1.69 Acres

Price / SF:

$115/SF

HighLights

1.69 acres with 4 rental units and 4 separate deeds, offering diverse investment opportunities
Includes two vacant lots zoned R2 for potential development
Existing rental income from multiple units, some with long‑term leases extending to July 2027
Recently remodeled 2‑bedroom apartment with new paint, flooring, and updated dishwasher
Multiple garages and storage sheds, including a 4‑car garage shared by tenants
One home has an unfinished basement

We can help!

Listing Contact

Brandy Holdeman

For Sale

$550,000

Fourplex - Bloomington, IN

Property size:

4,750 SF

Lot size:

1.69 Acres

Price / SF:

$115/SF

Added:: Apr 26, 2026
Days on Market:: 48
Last Refresh:: Jun 12 at 6:06 pm

Property Features for 1024 N Country Club Drive

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 8
Bathrooms: 4
Rooms: Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Laundry
Parking features: Carport, Garage, Garage - Attached, Off Street, Paved or Surfaced
EntryLevel: Main,Upper
Exterior features: Basement, Ceiling Fan, None, 2nd Detached Garage
Basement Y/N: 1
Appliances: Dishwasher, Garbage Disposer, Range, Washer
Standard status: Active
APN: 53-08-08-403-001.000-009
Size: 4,750 SF
Lot size: 1.69 Acres

Utilities

Heating system: Electric (Heating), Forced Air
Cooling system: Central Air

Building Details

Floors in Building: 1
Number of units: 4
Flooring type: Carpet, Laminate, Tile, Wood
Roof type: Metal, Rubber, Shingle
Architectural style: Other
Additional Structures: Garage(s)

We can help!

Listing Contact

Brandy Holdeman

Listing agent Brandy Holdeman License #RB14044117

Listing office Realty Professionals 328 S. Walnut St., Ste. 6, Bloomington, IN

Listing date Apr 26, 2026

MLS# 202615037 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.

HighLights

1.69 acres with 4 rental units and 4 separate deeds, offering diverse investment opportunities
Includes two vacant lots zoned R2 for potential development
Existing rental income from multiple units, some with long‑term leases extending to July 2027
Recently remodeled 2‑bedroom apartment with new paint, flooring, and updated dishwasher
Multiple garages and storage sheds, including a 4‑car garage shared by tenants
One home has an unfinished basement

Overview

This property features 1.69 acres comprising a total of 4 rental units and 4 separate deeds. One deed includes a 1-bedroom, 1-bath home located at 1016 Country Club, leased for $895 per month until July 22, 2027. This home, situated on 0.42 acres, also has an unfinished basement. A second deed covers a 0.5-acre vacant lot zoned R2, while a third deed pertains to a 0.33-acre vacant lot, also zoned R2. The fourth deed encompasses the balance of the property, with 0.44 acres and 3 rental units. Among these is a 2-bedroom, 1-bath unit at 1022A Country Club, complete with a carport, leased for $950 per month until July 22, 2027. Additionally, there is an upstairs 2-bedroom, 1-bath apartment leased for $1250 per month until July 24, 2027, which has been recently remodeled with new paint and flooring, and an updated dishwasher. The apartment shares a large 4-car garage with the tenant in the home. A 4-bedroom, 1-bath home is also present, occupied by a long-term tenant on a month-to-month lease, currently under rented for $910.52 per month. The property also includes a small storage shed and a large 1-car garage/shed with a loft area. The property, with a total size of 4750 square feet, is being sold as-is and presents an opportunity for investment or redevelopment.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $42,688 @ 7.0% cap · market cap 7.76%

Second Best

Apartment 5plus

$553.8K

$484.6K – $646.2K (±1% cap)

NOI $38,769 @ 7.0% cap · market cap 7.05%

Theoretical Best

Office A

$928.3K

$812.3K – $1.08M (±1% cap)

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

Suggested Use

Location Insight

Map
Local Demand

City: Bloomington
County: Monroe
State: Indiana
Longitude: -86.54632621
Latitude: 39.13683335

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For sale
Quadplexes
IN
Bloomington
47403
1024 N Country Club Drive

What type of property is this?

Quadplex - Four rental units and vacant lots on 1.69 acres.

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 acres with 4 rental units and 4 separate deeds, offering diverse investment opportunities; Includes two vacant lots zoned R2 for potential development; Existing rental income from multiple units, some with long‑term leases extending to July 2027

1024 N Country Club Drive, Bloomington, IN 47403

Fourplex - Bloomington, IN

Property Features for 1024 N Country Club Drive

General Information

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Bloomington Restaurant/Bar Opportunity

Multi-Revenue Entertainment Property on 2.82 Acres

Corner Office Building

Historic Schoolhouse with Business Potential

Historic Schoolhouse Near Indiana University

Versatile Warehouse/Office Building in Bloomington

New Duplex Investment Opportunity

Bloomington Sixplex in Opportunity Zone

Bloomington Commercial Land Opportunity

Retail Building with Walkout Basement

Mixed-Use Property Near IU Stadium

Bloomington Apartment Complex Near IU

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