Multi-Family Investment

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30757198
Status: Pending/Contingent
Number of Units: 36 Units
Building Size (RSF): 29,160 SF
Gross Land Area: 1.59 Acres
Sale Price: $3,000,000
Unit Price: $83,333.33 Per Unit
Property Use Type: Investment
Building Name: The Red Brick Apartments
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 95
Last Updated: 9/14/2021

Overview / Comments

The Red Brick Apartments are three seperate buildlings located on two parcels next to each other. There are a total of 36 units between both properties; 4-1BR/1BA at 550 SF each and 32- 2BR/1BA at 650 SF each. two of the three buildings have a shared laundry room. Built in 1968, each building dons a classic red brickexterior. This property as excellent visibility on busy W. 3rd St. with an easy commute to I-69/HWY-37. Travel east on 3rd St. for easy access to downtownBloomington.

Additional Details

Nearest MSA: Bloomington
County: Monroe
Tax ID/APN: 53-05-31-301-023.000-005
Zoning: MIXED-USE CORRIDOR
Property Located Between: S. Kimble Dr. and W. Johnson Ave.
Highway Access: Less than one mile from I-69/HWY-37.
Total Number of Buildings: 3
Property Condition: Average
Number of Stories: 3
Year Built: 1968
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Private, paved lot.
Total Parking Spaces: 80
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Air Conditioning: Engineered System
Zoning Description: Mixed-Use Corridor
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 013-53050-00 MAPLE GROVE BABY FARMS; PT LOTS 4-6; (4 F) 013-53080-01 MAPLE GROVE BABY FARMS PT LOT 5; 0.488 A; ( L5C)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,755 72,291 115,287
Median Age: 30.84 28.45 31.11
Households: 4,498 27,443 45,570

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