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522-526 W Colfax Ave
South Bend, IN 46601 West Washington

$2,100,000 USD

Apartments For Sale  •  16,962 SF

Property Details

  • Property Type Apartments
  • Total Building Size 16,962 SF
  • Lot Size 0.42 AC
  • Building Class C
  • Year Built 1966
  • Cap Rate 8.62 %
  • Zoning UF
30 Transit Score
60 Walk Score

Highlights

Current rents below market with projected rental upside
Prime walkable location steps from downtown South Bend and over $300M in recent and planned development
Strong renter demand supported by proximity to University of Notre Dame, Beacon Health System, and downtown employers
Located in a supply-constrained market with ~28,000-unit housing deficit and 6.5% vacancy
Optional portfolio expansion opportunity with additional 25 units available across the street
ay-one 8.62% cap rate with upside to 9.87% through rent growth and light renovations
Cap Rate: 8.62 %

Amenities

  • Air Conditioning
  • Laundry Facilities
  • Heating
  • Kitchen
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Community-Wide WiFi

Public Transportation

Commuter RailDriveWalkDistance
5 min - 1.7 mi
South Bend Airport Station (South Shore Line - Northern Indiana Commuter Transportation District (South Shore Line)) 10 min - 3.5 mi
AirportDriveWalkDistance
South Bend International 19 min - 5.7 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 34
Type: Surface
Included in Rent: Yes
Quentin Benedetto 312-624-7007 Marcus & Millichap
Quentin Benedetto 312-624-7007 Marcus & Millichap