Property Sub TypeApartment Building
Cedar Grove is a 29 bed portfolio property that consists of one 5 bedroom house which is zoned commercial with the ability to convert to commercial for next rental cycle, four 3 bedroom townhouse, and six 2 bedroom townhouse units. The current gross monthly rent is $11,335 Located at 716-736 W. 17th this property has had several major upgrades completed over the last several years including new roof, HVAC, carpet, flooring and paint. Just off the 17th St. corridor, which is a city of Bloomington Phase II project that will link 17th st. to downtown in terms of walkability, this property has been meticulously maintained over the last nine years of our clients' ownership. The area around Cedar Grove continues to be positively impacted by the multi million dollar Certified Technology Park that will encompass 65 acres and many new buildings to house technology offices as well as residential units, commercial spaces, structured parking decks and significant street/infrastructure improvements. Capital expenditures in 2013-2017 highlight new roof installations on the two buildings and the house as well as painting and flooring upgrades. Updated P&L, rent roll and capital expenditure financial sheet for quantification and evaluation will be sent with a signed NDA.