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Listed by Tariq Suboh • Ellsbury Group
$ 2,900,000
Est. payment | /mo
25,768 SqFt
$ 2,900,000
Est. payment | /mo
25,768 SqFt
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 25,768 sqft
Price per Sqft $112
MLS Listing ID 22092189
Year Built 1982
Tax Year 2024
Lot Size 4.550 Acres
Acres 4.55
Property Sub-Type Multi-Family 5+
Property Description
Pine Grove Apartments is a 42-unit community located in Elwood, IN, with a desirable mix of 8 two-bed/one-bath, 27 one-bed/one-bath, and 7 studios. The property spans seven single-story buildings totaling 25,768 sq. ft. on a large 4.45-acre lot. Built in 1982, the community is stable with consistent occupancy and tenant-paid electric utilities. With modest updates and rent growth, Pine Grove offers plenty of upside potential alongside reliable day-one income.
Location
State IN
County Madison
Zoning Residential Multi Family
Interior
Fireplace N
Exterior
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building
Story One
New Construction false
Schools
Elementary Schools Elwood Elementary School
School District Elwood Community School Corp
© 2026 All listing information is courtesy of MIBOR Broker Listing Cooperative(R) as distributed by MLS Grid. All rights reserved.
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