Multifamily Apartment
703 N Walnut Street Bloomington, IN 47404
For Sale
$2,250,000
MULTI_FAMILY - Loft - Bloomington, IN
Property Size10,344 SF
Lot Size0.18 Acres
Price / SF$217.52
Days on Market93
Property Features for 703 N Walnut Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
19
Bathrooms
19
Rooms
Bedroom 15, Bathroom 8, Bedroom 17, Bathroom 11, Bathroom 10, Bathroom 1, Bedroom 19, Bathroom 19, Bathroom 18, Bedroom 10, Bedroom 13, Bedroom 16, Bathroom 14, Bedroom 3, Bedroom 6, Bathroom 3, Bathroom 13, Bedroom 14, Bathroom 15, Bathroom 5, Bedroom 7, Bathroom 16, Bedroom 1, Bedroom 4, Bathroom 12, Bedroom 9, Bedroom 8, Bedroom 12, Bathroom 6, Bedroom 2, Bedroom 18, Bathroom 4, Bathroom 7, Bathroom 9, Bedroom 11, Bathroom 2, Bedroom 5, Bathroom 17
Parking
8
Basement
Concrete
Standard status
Active
APN
53-05-33-204-037.000-005
Size
10,344 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
49
Tax Description
013-19620-00 KENWOOD LOT 9.
Tax Annual Amount
5100
Utilities
Cooling system
Central Air
Building Details
Year built
2013
Floors in Building
3
Number of units
11
Flooring type
Carpet, Laminate, Wood, Concrete
Roof type
Rubber
Architectural style
Loft
Listing Agency:
Jason Millican Group
(317) 372-9999
Listed By:
Jason Millican · License #RB14027891
(317) 372-9999
Added: Apr 27
Changed: Jul 6
Last Checked: Jul 28 at 11:06PM
MLS# 202615116
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 11-unit apartment complex was built in 2013 and contains a unit mix of eight 2-bedroom, 2-bath apartments, two 1-bedroom, 1-bath apartments, and one studio, 1-bath unit. Each unit is offered with appliances, including in-unit washer and dryer. Parking is located in the back of the building, providing a dedicated off-street area for residents.
The property is located at 703 N Walnut Street in Bloomington, Indiana, near Indiana University’s campus. The public remarks also note that the complex is within walking distance to downtown and to the stadium.
For operating structure, tenants pay for internet and electric, while the owner is responsible for water/sewer, trash, and maintenance. For the 2026/27 school year, the listing states annual income of $144,900 with a 40% expense ratio of $57,960, resulting in reported NOI of $86,940. The configuration and included in-unit laundry can support a tenant-oriented setup for residential income buyers seeking an established, centrally situated multifamily asset.
The property is located at 703 N Walnut Street in Bloomington, Indiana, near Indiana University’s campus. The public remarks also note that the complex is within walking distance to downtown and to the stadium.
For operating structure, tenants pay for internet and electric, while the owner is responsible for water/sewer, trash, and maintenance. For the 2026/27 school year, the listing states annual income of $144,900 with a 40% expense ratio of $57,960, resulting in reported NOI of $86,940. The configuration and included in-unit laundry can support a tenant-oriented setup for residential income buyers seeking an established, centrally situated multifamily asset.
Key Highlights
- 11‑unit apartment complex built in 2013, close to IU campus
- Unit mix: 8 x 2BR/2BA, 2 x 1BR/1BA, and 1 studio/1BA
- Each unit includes all appliances, including washer/dryer
Financial Insights For Apartment 5plus
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 | $162.6k | $15.72 |
| − Vacancy | −$9.1k | −$0.88 |
| EGI | $153.5k | $14.84 |
| − OpEx | −$69.1k | −$6.68 |
| NOI | $84.4k | $8.16 |
10,344 SF · lease $15.72/SF/yr · vacancy 5.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,426 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,512 @ 7.0% cap · market cap 6.29%
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?
Apartment building - Well-kept 11-unit complex built in 2013 with in-unit appliances and shared back-of-building parking.
Where is this apartment building located?
The property is located at 703 N Walnut Street Bloomington, IN.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 11‑unit apartment complex built in 2013, close to IU campus; Unit mix: 8 x 2BR/2BA, 2 x 1BR/1BA, and 1 studio/1BA; Each unit includes all appliances, including washer/dryer
