Apartment Building Near IU
For Sale
Under Contract
$1,890,000
418 E 17th Street, Bloomington, IN 47408
INVESTMENT, Two Story, Bloomington, IN
Property Size7,680 SF
Lot Size0.31 Acres
Price / SF$246.09
Days on Market57
Property Features for 418 E 17th Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
16
Bathrooms
16
Full bathrooms
16
Rooms
Bedroom 4, Bathroom 7, Bathroom 6, Bedroom 9, Bedroom 11, Bedroom 8, Bedroom 10, Bedroom 3, Bathroom 15, Bathroom 8, Bedroom 2, Bedroom 6, Bedroom 7, Bathroom 16, Bathroom 2, Bathroom 13, Bedroom 13, Bedroom 1, Bedroom 12, Bathroom 3, Bathroom 10, Bedroom 5, Bathroom 1, Bathroom 11, Bedroom 15, Bathroom 9, Bathroom 4, Bathroom 14, Bedroom 16, Bathroom 5, Bedroom 14, Bathroom 12
Parking
20
Lot features
0-2.9999
Elementary school
University
Middle school
Tri-North
High school
Bloomington North
Elementary school district
Monroe County Community School C
Middle school district
Monroe County Community School C
High school district
Monroe County Community School C
Directions
GPS-friendly. On the corner of 17th & Dunn, across from Memorial Stadium.
Subdivision
Monroe County
Standard status
Active Under Contract
APN
53-05-33-201-033.000-005
Size
7,680 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
013-32530-00 Northview Part Lots 33 & 34
Legal Description
013-32530-00 Northview Part Lots 33 & 34
Building Details
Year built
1967
Floors in Building
2
Number of units
16
Flooring type
Mixed, Carpet
Architectural style
Other
Listing Agency:
Brawley Real Estate
(844) 254-7368
Listed By:
Kendall Elliott
(812) 698-9247
Added: Sep 9
Changed: Oct 26
Last Checked: Nov 4 at 2:06AM
MLS# 202637181
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.
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Investment Insights
Based on property information with market context.
This 7,680-square-foot apartment building contains 16 one-bedroom, one-bathroom units and provides 20 on-site parking spaces. Built in 1967, the property includes carpet and mixed flooring throughout the residential improvements.
The building sits directly across from IU's Memorial Stadium and Assembly Hall at 418 E 17th Street in Bloomington. All units are leased for the 2026-2027 academic year, creating an established occupancy profile for the current leasing cycle. The property may be acquired individually or together with the adjacent property at 416 E. 17th Street, allowing for a combined acquisition of both sites.
The building sits directly across from IU's Memorial Stadium and Assembly Hall at 418 E 17th Street in Bloomington. All units are leased for the 2026-2027 academic year, creating an established occupancy profile for the current leasing cycle. The property may be acquired individually or together with the adjacent property at 416 E. 17th Street, allowing for a combined acquisition of both sites.
Key Highlights
- 16 one‑bedroom, one‑bathroom apartments
- 20 on‑site parking spaces
- 7,680 square feet on 0.31 acres
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.
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Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
854
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Sixteen one-bedroom apartments with on-site parking and academic-year leasing support.
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; 20 on‑site parking spaces; 7,680 square feet on 0.31 acres
