406 E Hillside Drive

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Address: 406 E Hillside Drive, Bloomington, Indiana, US
Created date: April 10, 2024
Date last updated: April 15, 2024

Property Description

Superior condition apartment building, The Elmer on Hillside (named after original owner, Elmer Smallwood). This 4 unit building was completely rebuilt from the ground up in 2012, including the original front facade restored. From new foundation to the solar panels on the roof and everything in between, you'll love this ultra low maintenance investment opportunity (no grass to mow!). Each unit has the same layout (see floorplan in photos) and higher end finishes. One bedroom, one bath, washer/dryer in unit and plenty of closet space. The units are heated with two mini split systems each. Each unit has its own secure storage space in the walkout basement. Landlord pays water/sewer/trash (Approximately $1500/year) and internet ($2062/year). Sprinkler/fire alarm system is managed by Koorsen ($1200/year). Electric for the basement heat/AC/electric is covered by the solar panels. Each tenant pays their own electric. The owner is in the process of updating rents to $1200/month. Leases for 2024-2025 have been signed for Apartments 3 and 4 ($1150 and $1200). Active leasing is underway for Apartments 1 and 2. Owner manages property. Walk through video available on YouTube.

Key Property Information

Listing Status: Pending Sale
Listing Type: Call for offers
Multifamily type: 2-4 Units | Apartments
Price: $675,000
No. of Units: 4
Lot Size: 2,880.00 Sq ft
Opportunity Zone: No
Price per unit: $168,750
Property Website Click Here
Number of Bedrooms: 4
Number of Bathrooms: 4
Address: 406 E Hillside Drive, Bloomington, IN 47401, USA
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