605 Fess Ave Bloomington, IN 47401
- Commercial real estate
- 0.23 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 605 Fess Ave
- Year built
- 1920
- Lot size
- 0.23 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a 15-unit apartment building ideally situated in Bloomington, Indiana, at 605 S Fess Avenue. The property boasts high demand due to its close proximity to Indiana University, ensuring consistent occupancy rates. The sale includes not only the existing 15-unit apartment complex but also two adjacent parcels totaling 0.23 acres. These additional lots offer significant future development potential. Importantly, building permits have already been secured for the construction of two new single-family homes on these vacant lots, streamlining the development process for the buyer. This presents a unique chance to expand the existing rental portfolio or develop additional income-generating properties. The existing apartment building is ready for immediate acquisition, offering a strong foundation for a substantial return on investment. The combined potential of the existing rental income and the future development possibilities makes this a truly compelling investment opportunity in a thriving college town. Parcel numbers for the included land are 53-08-04-112-046.000-009 and 53-08-04-112-028.000-009. The asking price for this entire package is $1,850,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bloomington
- County
- Monroe
- State
- Indiana
- Longitude
- -86.52557
- Latitude
- 39.16116
