521 S Grant St, Bloomington, IN 47401

Description

RARE INVESTMENT OPPORTUNITY JUST 1.5 BLOCKS FROM INDIANA UNIVERSITY! This Grant Street property offers exceptional flexibility with 6-person occupancy approval and approval for use as a duplex-giving the next owner multiple options: rent it as one large 6-bedroom home, operate it as two rental units, or make it your own residence. And the location is hard to beat. You're approximately 1.5 blocks from IU's campus and just 3 blocks from restaurants, bars, shopping and Bloomington nightlife, making this an incredibly convenient location for students and tenants. The property also offers private off-street parking plus street parking. Under the current ownership, the home has been consistently rented as one large residence to six students. The main level features 3 bedrooms, a kitchen, full bath, huge great room, additional living room and enclosed porch, along with hardwood floors, built-in bookshelves and plenty of character. Upstairs you'll find 3 additional bedrooms, a second kitchen and bathroom, hardwood floors and spacious closets. Shared laundry and abundant storage are located in the basement. Central air is on both floors and new in 2026 for the upstairs. Furnace is 4 and a half yrs old and water heater is new 2025. With its proximity to IU, established rental history, 6-person occupancy approval and duplex-use flexibility, properties with this combination of location and versatility are hard to find. Explore long-term rental, potential short-term rental where permitted, owner occupancy, or other possibilities allowed by applicable regulations. Students can walk to class, dining and nightlife-and investors get a property with multiple ways to make the numbers work. All room dimensions are approximate and should be independently verified by buyer. Buyer to verify occupancy permits, rental status, zoning, allowable uses and any short-term rental requirements.