About 1122 N Madison Street
Prime Investment Opportunity! Don’t miss this rare chance to own a well-located multi-unit property at the corner of Madison and 16th Street. Zoned RM - Residential Multi Family. The property includes six 1-bedroom/1-bath apartments plus an attached 4-bedroom/1.5-bath house. Income Potential: Fully rented, the property generates approximately $6,350 per month. Tenant-Paid Utilities: Tenants are responsible for their own utilities, minimizing owner expenses. Appliances Included: Each apartment is equipped with a refrigerator and range; the house includes a refrigerator, range, washer, and dryer. Permits & Compliance: Occupancy permit for 35 in place and valid through 2/1/2028. Zoned RM. Showing Availability: Two apartments are currently vacant and available for immediate showings. Additional unit showings may be arranged for serious buyers. This property combines strong cash flow potential with a highly desirable location—perfect for both seasoned investors and those looking to expand their portfolio. The owner is open to bundling this property with other properties in his portfolio.
Features of 1122 N Madison Street
| MLS® # | 202538505 |
|---|---|
| Price | $650,000 |
| Bedrooms | 9 |
| Bathrooms | 8.00 |
| Full Baths | 7 |
| Half Baths | 1 |
| Square Footage | 4,416 |
| Acres | 0.20 |
| Year Built | 1945 |
| Type | Multifamily |
| Sub-Type | Apartment Building |
| Status | Active |
Community Information
| Address | 1122 N Madison Street |
|---|---|
| Subdivision | None |
| City | Bloomington |
| County | Monroe County |
| State | IN |
| Zip Code | 47404 |
Amenities
| Features | Off Street Parking, Near Walking Trail, Countertops-Laminate |
|---|---|
| Parking Spaces | 8 |
| Parking | Off Street |
| Is Waterfront | No |
| Waterfront | Creek |
| Has Pool | No |
Interior
| Interior | Carpet, Vinyl Tile, Wood |
|---|---|
| Heating | Gas, Forced Air |
| Cooling | Window |
| # of Stories | 2 |
| Stories | Two Story |
| Has Basement | Yes |
| Basement | Crawl, Partial Basement |
Exterior
| Exterior | Brick, Other |
|---|---|
| Lot Description | Corner, 0-2.9999 |
| Construction | No |
| Foundation | Block |
School Information
| District | Monroe County Community School Corp. |
|---|---|
| Elementary | Fairview |
| Middle | Tri-North |
| High | Bloomington North |
Additional Information
| Days on Market | 24 |
|---|---|
| Zoning | RM - Residential Multifamily |
| Foreclosure | No |
| RE / Bank Owned | No |
| HOA Fees Freq. | Not Applicable |
Listing Details
| Agent | Alice Chastain |
|---|---|
| Office | RE/MAX Acclaimed Properties |
| Contact Info | Cell: 812-322-6256 |