16-Unit Apartment
For Sale
$1,890,000
418 E 17th Street, Bloomington, IN 47408
Fully leased for the 2026–2027 academic year with on-site parking.
Property Size7,680 SF
Price / SF$246.09
Days on Market55
Property Features for 418 E 17th Street
General Information
Standard status
Active
Size
7,680 SF
Total Parking Spaces
20
Property subtype
Multi-Family
Units
Unit Mix
16 x 1BR/1BA
Multifamily Units
16
Building Details
Year Built
1967
Listing Agency:
Era First Advantage Realty, Inc
(812) 858-2400
Listed By:
Carson and Lisa Lowry Real Estate
(812) 305-4663
Source:
Carsonlowryrealestate
Added: Sep 11
Changed: Nov 3
Last Checked: Nov 3 at 6:13AM
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 Era First Advantage Realty, Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,680-square-foot apartment building, constructed in 1967, contains 16 one-bedroom, one-bathroom units and 20 on-site parking spaces. The property is fully leased for the 2026–2027 academic year, providing an established occupancy profile for the next academic cycle.
The site is directly across from Indiana University's Memorial Stadium and Assembly Hall. The property may be acquired individually or combined with the adjacent property at 416 E 17th Street, allowing for a larger assembled acquisition. Rent rolls and lease information are available upon request.
The site is directly across from Indiana University's Memorial Stadium and Assembly Hall. The property may be acquired individually or combined with the adjacent property at 416 E 17th Street, allowing for a larger assembled acquisition. Rent rolls and lease information are available upon request.
Key Highlights
- 16 one‑bedroom, one‑bathroom apartments
- Fully leased for the 2026–2027 academic year
- 20 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,683
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,253,660
$1.3M
Cap Rate 7%
$895,471
$895.5K
Cap Rate 9%
$696,478
$696.5K
Market Conditions
NOI Build-Up for 7,680 SF
Gross rent
$120.7K $15.72/SF
− Vacancy
−$6.8K −$0.88/SF
EGI
$114.0K $14.84/SF
− OpEx
−$51.3K −$6.68/SF
NOI
$62.7K $8.16/SF
Area
Monroe County, IN
Vacancy
5.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,253,660
Cap Rate 7%
$895,471
Cap Rate 9%
$696,478
Alternative Uses
Best Use
Apartment 5plus
$895.5K
$783.5K – $1.04M
NOI $62,683 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,067 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
Explore this area
Business Placement
Demographics for 47408, IN
22,917
Population
10,456
Households
2.2
Avg Household Size
28
Median Age
59%
College-Educated
98%
High-School Grad
64.4 sq mi
ZIP Area
356
Density / Sq Mi
$45,584
Median Household Income
$15,819
Median Earnings
$1,177
Median Rent
$304,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased for the 2026–2027 academic year with on-site parking.
Where is this apartment building located?
The property is located at 418 E 17th Street Bloomington, IN.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 16 one‑bedroom, one‑bathroom apartments; Fully leased for the 2026–2027 academic year; 20 on‑site parking spaces
