Four-Unit Residential Income
1024 N Country Club Drive Bloomington, IN 47403
For Sale
$550,000
MULTI_FAMILY - Bloomington, IN
Property Size4,750 SF
Lot Size1.69 Acres
Price / SF$115.79
Days on Market95
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 5, Bathroom 3, Basement, Bedroom 2, Bathroom 4, Bathroom 5, Bathroom 1, Bedroom 7, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 9, Bedroom 3, Bedroom 8, Bedroom 6
Parking
8
Parking features
Off Street, Garage
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
Tile, Carpet, Laminate, Wood
Roof type
Rubber, Shingle, Metal
Architectural style
Other
Listing Agency:
Realty Professionals
(812) 650-3600
Listed By:
Brandy Holdeman · License #RB14044117
(812) 325-7685
Added: Apr 26
Changed: Jul 6
Last Checked: Jul 29 at 12:06AM
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 1.69‑acre property with 4 rental units and 4 separate deeds
- 1016 Country Club: 1 bed/1 bath leased for $895/month until July 22, 2027; unfinished basement; on 0.42 acres
- 1022A Country Club: 2 bed/1 bath with carport leased for $950/month until July 22, 2027
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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; 1016 Country Club: 1 bed/1 bath leased for $895/month until July 22, 2027; unfinished basement; on 0.42 acres; 1022A Country Club: 2 bed/1 bath with carport leased for $950/month until July 22, 2027
