Attractive Basis for 1996–2005 Construction: Dorothy offers investors 1996–2005 vintage construction at a favorable basis compared to newer product and replacement cost, providing an attractive entry point with long-term value potential.

Large Townhome Units with Washer/Dryer Connections: All but one of the property’s units feature spacious 1,330–1,440 SF townhome-style floor plans with washer/dryer connections, creating a highly desirable and differentiated rental offering in the Bloomington market.

Four-Bedroom Conversion Opportunity: Six units feature four-bedroom layouts but are currently marketed as three-bedroom units due to code-compliance requirements. Completing the necessary improvements would allow the units to be legally leased as four-bedroom residences, creating the opportunity to increase rents to approximately $1,800 per month.

Professional Management Upside: The property is currently 68% occupied compared with a 97% market average, creating significant occupancy recovery potential. The community is currently family-owned and operated, offering an opportunity for improved performance through more focused management and leasing efforts.

Proximity to Indiana University: Dorothy benefits from its proximity to Indiana University’s flagship campus, which reached a record enrollment of 48,626 students in fall 2025. Supported by a $4.7 billion operating budget and more than $1 billion in annual research expenditures, IU remains a major driver of housing demand, employment, and market stability.