1201 West Allen Street

Bloomington, IN 47403

$4,300,000
Price
40
Beds
40
Baths
23,310 Sq. Ft.
$184 / Sq. Ft.
23,310
Sq. Ft.
$184
per Sq. Ft.

Description

Welcome to Hilltop Village, a charming 40-unit apartment complex nestled on 2.66 acres in an attractive location! This exceptional property comprises nine separate ranch-style buildings, providing 39 one-bedroom units that have been meticulously remodeled to offer modern comforts and style within the past two years. The remaining unit has two separate entrances and serves as an office on one side, while the other side has been transformed into a common area laundry facility for the tenant's convenience....Welcome to Hilltop Village, a charming 40-unit apartment complex nestled on 2.66 acres in an attractive location! This exceptional property comprises nine separate ranch-style buildings, providing 39 one-bedroom units that have been meticulously remodeled to offer modern comforts and style within the past two years. The remaining unit has two separate entrances and serves as an office on one side, while the other side has been transformed into a common area laundry facility for the tenant's convenience. The office has the potential to be easily converted into an efficiency unit, further expanding the income-generating possibilities for the new owner. See the attached flyer for all renovation and update details! In an area with high rental demand, this complex offers a serene and convenient housing option that has proven itself when it comes to attracting renters. This property is primed for a future of 100% occupancy and consistent rental income. Room to increase rents. Space to add more units. Value add opportunity. Investors seeking a secure and profitable addition to their portfolio need look no further than Hilltop Village!
  1. Listed by Audra Cannon • CRM Properties, Inc

Property Details for 1201 West Allen Street

Style
Other
Subdivision
Southwest Bloomington City
Waterfront
No
Pet Restrictions
Yes

Location

Listing Courtesy of CRM Properties, Inc
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LISTING UPDATED: 02/29/2024 02:56 AM

Property Details for 1201 West Allen Street

StatusActive
MLS #202332690
Days on Market244
Taxes$32,730 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / Apartment Complex
Year Built1985
CountyMonroe County

Location

Listing Courtesy of CRM Properties, Inc
Add your commute

Building Information for 1201 West Allen Street

Building/Complex1201 W Allen StFloor-Stories1Residences40Pet Policy-Year Built1985Building Size-

Payment Calculator

$26,194 per month

30 year fixed, 7.25% Interest

Principal and Interest

$23,467

Property Taxes

$2,728

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1201 West Allen Street

Summary
Location and General Information
  • Area: Monroe County
  • City: Bloomington
  • Zip Code: 47403
  • State: IN
  • Township: Perry
  • Geo Latitude: 39
  • Geo Longitude: -87
  • Fips Code: 18105
  • Directions To Property: 1/10 mile West of the intersection of West Allen Street and South Patterson Drive, on the South side of the street.
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 2023
  • Parcel Number Id: 53-08-05-300-004.000-009
School Information
  • School District: Monroe County Community School Corp.
  • Elementary: Templeton
  • Middle School: Jackson Creek
  • High School: Bloomington South
Parking
  • Number Of Parking Spaces: 40
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Apartment Complex
  • Approx Lot Size Acres: 2.66
  • Lot Dimensions: 460x260
  • Below Grade Unfin Sqft: 0.0
  • Total Square Feet: 23310.0
  • Approx Lot Size Sqft: 115870.0
  • Above Grade Finished Sqft: 23310.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 0.0
  • Total Finished Sqft: 23310.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Rolling
Property and Assessments
  • New Construction: No
  • Year Built: 1985
  • Age: 39
  • Planned Unit Development: No
Utilities
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Open Floor Plan, Water Heater Electric
  • Exterior: Stone
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
Interior Features
  • Number of Dishwashers: 40
  • Number of Disposals: 0
  • Number of Dryers: 3
  • Number of Microwaves: 40
  • Number of Ranges/Ovens: 40
  • Number of Refrigerators: 40
  • Number of W/D Hookups: 3
  • Number of Washers: 3
  • Basement: No
  • Basement/Foundation: Slab
  • Cooling: Wall AC
  • Flooring: Vinyl
  • Heating/Fuel: Electricity, Wall Heater
  • Stories: 1
  • Number of Above Grade Bedrooms: 40
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 40
  • Total Number of Full Baths: 40
  • Total Number of Half Baths: 0
  • Total Baths: 40
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 39
  • Num Of 2 Bedrooms: 0
  • Num Of 3 Bedrooms: 0
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 1
  • Num of Units Rented: 37
  • Number of Units: 40
Income & Expenses Information
  • Annual Electric Expense: $4,800.00
  • Annual Fuel Expense: $587.67
  • Annual Gross Rent $: $406,368
  • Annual Insurance Expense: $18,180
  • Annual Maint. Expense: $18,000
  • Annual Misc: $82,500
  • Annual Net Income: $246,370
  • Annual Property Tax: $32,730
  • Annual Trash Expense: $3,200
  • Annual Water/Sewer Exp: $0
  • Gross Monthly Income: $33,864
  • Gross Monthly Rent: $33,500
Unit Information
Unit 1
  • Unit 1 SqFt: 600
  • Unit 1-Num of Bathrooms: 1
  • Unit 1-Num of Bedrooms: 1
  • Unit 1-Electric: Tenant
  • Unit 1-Gas: None
  • Unit 1-Level: Main
  • Unit 1-Rent Frequency: Monthly
Rental
Rental Information
  • Lease Term: 1 Year
  • Owner Pays: Building Insurance, Lawn Maintenance, Maintenance, Snow Removal, Tax, Trash Collection
  • Tenant Pays: Electric, Sewer, Water

Property History for 1201 West Allen Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1201 West Allen Street

Taxable ValueLand$305,900Additions$1,268,400Total$1,574,300
Tax Record2022$50,639 ($4,220 / month)
Home Facts
Total Finished SqFt2,331 SqFtAbove Grade Finished SqFt2,331 SqFtStories1Lot Size115,870 SqFtStyleMulti-Family Res (5+ Units)Year Built1985CountyMONROEAPN53-08-05-300-004.000-009

Schools near 1201 West Allen Street

This home is within Monroe County Com Sch Corp.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Templeton Elementary School
PublicPK to 6

Jackson Creek Middle School
Public7 to 8

Bloomington High School South
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1201 West Allen Street is a multi-family home for sale in Bloomington, IN 47403. This property was listed for sale on September 8, 2023 by CRM Properties, Inc, it's currently listed at $4,300,000. It has been on the market for a total of 244 days and was last sold on January 6, 2021. This listing's school district is Monroe County Com Sch Corp. Nearby schools include Templeton Elementary School, Jackson Creek Middle School and Bloomington High School South. 1201 West Allen Street is a 40-bed, 40-bath, 23,310 sqft multi-family home built in 1985.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CRM Properties, Inc

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.