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3033 S P Street Elwood, IN $ 2,900,000
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3033 S P Street
$ 2,900,000
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3033 S P Street

Elwood, IN, 46036
$ 2,900,000
Bedrooms-- Baths-- Sq 25,768

Monthly Estimate*

$ 17,856

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Commercial Property for sale in Elwood, IN

for $2,900,000. This 25,768 square foot building was built in 1982 on a lot size of 4.55.

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.

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Commercial Active

Price

$ 2,900,000

Property Type

Commercial

Taxes

$ 33,646

Style

Multi-Family 5+

Lot Size

4.55

Year Built

1982

Town/City

Elwood

County/Region

Madison

MLS | Web ID

22092189
Features
General
Utilities Cable Connected Electricity Connected Natural Gas Connected Sewer Connected Water Connected
Possession Closing Negotiable Subject to Tenant Rights
Zoning Residential Multi Family
Year Built 1982
Township Pipe Creek
Levels One
Property Subtype Multi-Family 5+
Tax Year 2024
Current Use Apt>20 Residential
Building Name Pine Grove Apartments
County Madison
New Construction N
Property Type Commercial Sale
Status Active
Directions GPS Friendly
City Elwood
High School District Elwood Community School Corp
Number Of Units Total 42
MLS Area 4804 - Madison - Pipe Creek
Lot Size Square Feet 198024
Elementary School Elwood Elementary School
Additional Parcels Y/N N
Standard Status Active
Tax Lot 48-04-23-200-016.000-027
Legal Description Nw Nw 23-21-6 (4.313Ac)
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Exterior
Building Area Total 25768
Lot Size Acres 4.55
Waterfront Y/N N
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* Excluded Features
List By
Ellsbury Group

Broker

Tariq@ellsburygroup.com

Email

Affordability Calculator

$20,660
Per Month
86%
14%
0%
Monthly Principal & Interest
$17,856
Monthly Property Taxes
$2,804
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4047068 Elementary School
4045167 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
3/30/2026$2,900,000 Listed Price

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3033 S P Street, Elwood, IN, 46036 is a Commercial Property for sale at $2,900,000 with 25,768 sqft and a lot size of 4.55. 3033 S P Street was built in 1982. The property's zip code is 46036 which is in Elwood, IN

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