Listed with Laura Stevens, The Indiana Team LLC, Offc: 812-961-8000

Price $155,000
Status Active
Beds 0
Baths 0 Bath
Home size n/a
Lot Size 29,621 sqft
Days on Market 1
Development-ready 0.68-acre RM-zoned multifamily site supporting 12-15 two- and three-bedroom apartments or condominiums. Located in a Qualified Opportunity Zone steps from Bloomington's premier 65-acre Switchyard Park and the B-Line Trail in one of the city's fastest-growing residential corridors. Significant pre-development work complete: soil samples on file and site plans for multi-unit development previously prepared. Buyer saves months of planning and thousands in due diligence costs. Bloomington's UDO supports medium-scale multifamily development in the RM district with building heights up to 3 stories. A completed 12-15 unit project at this location could generate $172,000-$270,000 in annual gross rental income, or $2.4M-$4.1M in total condo sales revenue. Bloomington's rental market, driven by Indiana University, maintains among the lowest vacancy rates in the state. Opportunity Zone investors can defer existing capital gains, receive a basis step-up on deferred gains, and pay zero capital gains tax on project appreciation when held for 10+ years. Seller financing available to qualified buyers. Ideal for developers and OZ investors seeking an entitled, de-risked site in a proven rental market. Adjacent 5.5-acre property is also separately available, creating a potential 6+ acre combined development site for 60+ units. Site plans for the combined parcels have been previously prepared.
Property Type(s): Lot/Land/Acreage
Last Updated 7/13/2026 Tract None
Year Built 0 County Monroe

SCHOOLS

School District Monroe County Community School C
Elementary School Templeton
Jr. High School Batchelor
High School Bloomington South

Price History

Prior to Jul 13, '26 $235,000
Jul 13, '26 - Today $155,000

Additional Details

LOT 0.68 acre(s)
LOT DESCRIPTION Cul-De-Sac
LOT DIMENSIONS 158' x 175'
SEWER Public Sewer
SUBDIVISION None
TAXES 1605
UTILITIES Electricity Available
WATER Public
Listed with Laura Stevens, The Indiana Team LLC, Offc: 812-961-8000
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Indiana Regional MLS®. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
Copyright© 2026 IRMLS. All rights reserved.
Last Updated On: 7/14/26 3:13 AM PDT
Walk Score provided by walkscore.com

This IDX solution is (c) Diverse Solutions 2026.

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