Multi-Unit Property with Commercial
425 North Walnut Street Bloomington, IN 47404
For Sale
$1,099,000
Four-unit rental property plus bonus commercial space, fully leased through July 2026 with income terms through July 2026.
Property Size3,614 SF
Price / SF$304.10
Days on Market743
Property Features for 425 North Walnut Street
General Information
- Standard status
- Active
- Size
- 3,614 SF
- Property subtype
- Multi Family / Other
Building Details
- Year Built
- 1969
Listing Agency:
Brawley Real Estate
(812) 327-5331
Listed By:
Jeff Brawley · License #RB14041028
Source:
Compass
Added: Jul 11, 2024
Changed: Jul 23
Last Checked: Jul 23 at 9:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brawley Real Estate
Investment Insights
Based on property information with market context.
425 N Walnut Street in Bloomington, Indiana offers a four-unit residential property with a bonus commercial space. The 4-unit setup includes a total of 7 bedrooms and 4 bathrooms across the residential units.
The property is fully leased through July 2026. Current rental income is reported at $8,500 per month through July 2025, increasing to $8,900 per month for the following lease term (August 2025 through July 2026).
The property is described as being located near downtown and Indiana University, supporting consistent demand for rentals in the area. The combination of residential units and an on-site commercial component provides multiple income streams under the current lease coverage.
The property is fully leased through July 2026. Current rental income is reported at $8,500 per month through July 2025, increasing to $8,900 per month for the following lease term (August 2025 through July 2026).
The property is described as being located near downtown and Indiana University, supporting consistent demand for rentals in the area. The combination of residential units and an on-site commercial component provides multiple income streams under the current lease coverage.
Key Highlights
- 4‑unit property at 425 N Walnut St with 7 total bedrooms and 4 total bathrooms
- Bonus commercial space included with the multi‑unit setup
- Fully leased through July 2026 with current rental income of $8,500 per month through July 2025
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 | $49.0k | $13.56 |
| − Vacancy | −$2.6k | −$0.72 |
| EGI | $46.4k | $12.84 |
| − OpEx | −$13.9k | −$3.85 |
| NOI | $32.5k | $8.99 |
3,614 SF · lease $13.56/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$464.0K
$406.0K – $541.3K
NOI $32,479 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$421.4K
$368.7K – $491.6K
NOI $29,497 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$706.3K
$618.0K – $824.0K
NOI $49,442 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit rental property plus bonus commercial space, fully leased through July 2026 with income terms through July 2026.
Where is this quadplex located?
The property is located at 425 North Walnut Street Bloomington, IN.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 4‑unit property at 425 N Walnut St with 7 total bedrooms and 4 total bathrooms; Bonus commercial space included with the multi‑unit setup; Fully leased through July 2026 with current rental income of $8,500 per month through July 2025
