717 & 801 College, Bloomington, IN 47404 - Myers Trust

717 & 801 College, Bloomington, IN 47404

Overview

MLS ID: #202210025
Price: $ 2,550,000
Sq Ft: 7,249
Finished Sq Ft: 7,249
Lot Size: 0.69 Acres
Year Built: 1840
Bedrooms: 10
Full Bathrooms: 9
Half Bathrooms: 3
Taxes: $ 3,200
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Remarkable investment opportunity close to IU Campus and Bloomington’s Downtown on highly visible College Avenue. Both properties sit side by side facing College Avenue with an empty lot in the center that is part of the 801 plat. Property is developable, see separate docs from Monroe County Planning attached and visit the planning department for further information. 801 N College was the former Scholars Inn Bed & Breakfast and offers 5 bedrooms and study with each room boasting an en suite (6 total full baths). The property has parking and a beautiful back yard with mature trees. This is currently rented to students and has leases in place thru August 2023. 717 N College was the former Scholars Inn Gourmet Cafe and Wine Bar. It was completely remodeled in 2020 and has been operating as a Vacation Rental since July 2020. Each level is rented separately or the entire house can be rented together with 2 separate listings on vacation rental sites. 717 would be sold turn key and buyers may take over VRBO and Air B&B listings with bookings through the fall and Graduation 2023. This property has 3 bedrooms and 2 full plus 2 half baths downstairs and an additional full bath and two bedrooms upstairs with a kitchenette. Each level has an expansive deck and the back of this property has 16 parking spots which generate income from Flexepark. Both houses were built before 1900 and exude all the charm you’d expect to find in homes of this era. See document attached for details of each property.

MLS ID: 202210025

Details

# of Units 2
Price Per Unit 1,275,000
Above Grade Finished SF 7,249
Above Grade Unfinished SF 6
Combined Finished SF 7,249
Below Grade Finished SF 1,170
Below Grade Unfinished SF 1,170
Total Below Grade SF 1,170
Total Sq Ft 8,419
Lot Dimensions Unknown
Approx Lot Size SqFt 30,056
Approx Lot Size Acres 0.690
Garage SF 800
Garage # of Cars 5
Outbuildings 64
Water Front No
Style Two Story
New Construction No
Elementary School Fairview
Middle School Tri-North
Senior Bloomington North
District Monroe County Community School C
# Bedrooms 10
# of Full Baths 9
# of Half Baths 3
# Above Grade Bedrooms 9
Rec Room 3 x 2
Bedroom 5 5 x 2
Loft 2 x 2
Extra Room 2 x 2
Laundry Room 24 x
Other Room 3 5 x
Annual Gross Rent Income $164,800.00
Annual Sewer Expense $800.00
Annual Fuel Expense $1,202.49
Annual Electric Expense $4,091.70
Annual Trash Expense $1,093.00
Annual Property Tax $19,221.92

Listing Office: FC Tucker/Bloomington REALTORS

Listing Agent: Kerry Feigenbaum

Disclaimer:

Property information is provided by the Indiana Regional MLS. The IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the IRMLS. Featured Properties may have updated information provided by Myers Trust.