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Riverwalk Commons 1106 20th St 66 Unit Apartment Building For Sale South Bend, IN 46615
INVESTMENT HIGHLIGHTS
- Extensive Capital Improvements Throughout Entire Property
- Steps Away From Local Parks, Trails, and Commercial Designations
- High Occupancy and Growing Student Populous
- Direct Proximity to IU South Bend’s Campus
- Robust Assortment of Amenities
EXECUTIVE SUMMARY
XMark Midwest is pleased to bring to market the opportunity to acquire Riverwalk
Commons, situated just steps away from IU South Bend’s campus.
Originally constructed in 1957 & 1961, this 66-unit, 133-bed student property has received
significant capital improvements, allowing current ownership to take advantage of the
growing student population at Indiana University South Bend. Riverwalk Commons
features 14 one bed/one bath (632 sf), 37 two bed/two bath (868sf), and 15 three bed/
two bath (1,172sf) units.
Over the past 3 years, ownership has completed extensive capital improvements to the
property including: elevator replacements, fire system upgrades and replacements,
interior and exterior painting, interior unit and CAM flooring replacements, HVAC and
mechanical replacements, roof replacements, asphalt, sealcoat, stripe, and dumpster
corrals, security system and camera implementation, window replacements, washers,
dryers, and keyless entry.
Riverwalk Commons boasts a robust assortment of amenities. Situated on 1.18ac,
Residents can enjoy the on-site parking, leasing office, outdoor patio, fitness center,
theater room, and game room. Moreover, tenants are only steps away from the
northside trail of the St. Joseph River, Potawatomi Park, and Mishawaka Ave’s
commercial corridor just north of campus.
Commons, situated just steps away from IU South Bend’s campus.
Originally constructed in 1957 & 1961, this 66-unit, 133-bed student property has received
significant capital improvements, allowing current ownership to take advantage of the
growing student population at Indiana University South Bend. Riverwalk Commons
features 14 one bed/one bath (632 sf), 37 two bed/two bath (868sf), and 15 three bed/
two bath (1,172sf) units.
Over the past 3 years, ownership has completed extensive capital improvements to the
property including: elevator replacements, fire system upgrades and replacements,
interior and exterior painting, interior unit and CAM flooring replacements, HVAC and
mechanical replacements, roof replacements, asphalt, sealcoat, stripe, and dumpster
corrals, security system and camera implementation, window replacements, washers,
dryers, and keyless entry.
Riverwalk Commons boasts a robust assortment of amenities. Situated on 1.18ac,
Residents can enjoy the on-site parking, leasing office, outdoor patio, fitness center,
theater room, and game room. Moreover, tenants are only steps away from the
northside trail of the St. Joseph River, Potawatomi Park, and Mishawaka Ave’s
commercial corridor just north of campus.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.84 AC |
| No. Units | 66 | Building Size | 85,986 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1960/2024 |
| Building Class | B | Parking Ratio | 0.98/1,000 SF |
| Zoning | C - Commercial | ||
| Sale Type | Investment |
| No. Units | 66 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.84 AC |
| Building Size | 85,986 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built/Renovated | 1960/2024 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | C - Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Window Coverings
SITE AMENITIES
- Business Center
- Controlled Access
- Clubhouse
- Fitness Center
- Property Manager on Site
- Storage Space
- Elevator
- Lounge
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | $1,100 | 425 - 709 |
| 2+2 | 37 | $1,385 | 675 - 1,000 |
| 3+2 | 15 | $1,750 | 625 - 1,252 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $5,146,800 | |
| Land Assessment | $33,600 | Total Assessment | $5,180,400 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$33,600
Improvements Assessment
$5,146,800
Total Assessment
$5,180,400
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Riverwalk Commons | 1106 20th St
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