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Institutionally Owned IUB Student Housing 1722 N Walnut St 89 Apartment Units Online Auction Sale Bloomington, IN 47404
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Investment Highlights
- Adjacent to Indiana University, benefitting from one of the Midwest’s largest university markets, with steady enrollment and year-round demand.
- Operational upside via recent capex creates a value-add opportunity through leasing, branding, revenue growth, expense control, and repositioning.
- More than $2.1M has been invested in upgrades, including renovated common areas, amenities, parking, roofing, hallways, landscaping, and units.
- Multiple investment strategies, flexible for MFR, student, workforce, micro-unit, or hybrid housing serving students and young professionals.
- Affordable micro-units - predominantly studio units provide attainable housing, meeting growing demand from students and young professionals.
- With 89 units, Vivo Bloomington delivers rare scale in a high-barrier market, appealing to private investors, syndicators, and institutions.
Executive Summary
Matthews Real Estate Investment Services, in collaboration with Ten-X, is pleased to present the opportunity to acquire Vivo Bloomington, an 89-unit residential community located at 1722 N Walnut Street in Bloomington, Indiana. The property consists of 88 studio units and one one-bedroom unit and is being offered through a lender-directed auction.
Strategically positioned minutes from Indiana University, Vivo Bloomington presents investors with a highly flexible residential investment opportunity in one of Indiana's strongest rental markets. While the property has historically operated as student housing, its studio-dominant unit mix, attainable price point, and strategic location support a variety of investment strategies, including traditional student housing, conventional multifamily, affordable micro-unit housing, workforce housing, or a hybrid leasing model designed to maximize occupancy and revenue.
The asset has benefited from substantial capital investment over multiple ownership periods. Historical ownership completed extensive renovations to common areas, amenity spaces, building systems, parking areas, and select apartment interiors. Since assuming ownership, the lender has continued to invest in the property through additional improvements, including hallway renovations, flooring replacement, interior painting, roof repairs, parking lot maintenance, landscaping, signage, water heater replacement, and upgrades to 10 apartment units.
Vivo Bloomington is being offered free and clear of existing debt through a competitive auction process, providing investors the opportunity to establish market pricing on a well-located institutional-scale asset. In addition to the property's recent capital improvements, investors have the opportunity to implement a range of value-creation strategies through operational repositioning, leasing optimization, or by leveraging the property's location and zoning to evaluate future redevelopment or alternative use potential, subject to municipal approvals.
Property tours are by appointment only. Please contact the listing broker to schedule.
Strategically positioned minutes from Indiana University, Vivo Bloomington presents investors with a highly flexible residential investment opportunity in one of Indiana's strongest rental markets. While the property has historically operated as student housing, its studio-dominant unit mix, attainable price point, and strategic location support a variety of investment strategies, including traditional student housing, conventional multifamily, affordable micro-unit housing, workforce housing, or a hybrid leasing model designed to maximize occupancy and revenue.
The asset has benefited from substantial capital investment over multiple ownership periods. Historical ownership completed extensive renovations to common areas, amenity spaces, building systems, parking areas, and select apartment interiors. Since assuming ownership, the lender has continued to invest in the property through additional improvements, including hallway renovations, flooring replacement, interior painting, roof repairs, parking lot maintenance, landscaping, signage, water heater replacement, and upgrades to 10 apartment units.
Vivo Bloomington is being offered free and clear of existing debt through a competitive auction process, providing investors the opportunity to establish market pricing on a well-located institutional-scale asset. In addition to the property's recent capital improvements, investors have the opportunity to implement a range of value-creation strategies through operational repositioning, leasing optimization, or by leveraging the property's location and zoning to evaluate future redevelopment or alternative use potential, subject to municipal approvals.
Property tours are by appointment only. Please contact the listing broker to schedule.
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Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Zoning
- Survey
- Title and Insurance
Property Facts
| Sale Type | Investment | Building Class | B |
| Sale Condition | Auction Sale | Lot Size | 2.11 AC |
| Type of Ownership | Fee Simple | Building Size | 47,560 SF |
| No. Units | 89 | Average Occupancy | 58% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2022 |
| Apartment Style | Low-Rise | Parcel Number | 53-05-28-300-143.000-005 |
| Zoning | MC - Mixed-Use Corridor Zoning District | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 89 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.11 AC |
| Building Size | 47,560 SF |
| Average Occupancy | 58% |
| No. Stories | 3 |
| Year Built | 2022 |
| Zoning | MC - Mixed-Use Corridor Zoning District |
| Parcel Number | 53-05-28-300-143.000-005 |
Amenities
Unit Amenities
- Microwave
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Views
Site Amenities
- 24 Hour Access
- Clubhouse
- Fitness Center
- Furnished Units Available
- Study Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 88 | - | 258 - 357 |
| 1+1 | 1 | - | 714 |
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Sale Advisors
Sale Advisors
Robert Anderson, Vice President
Robert brings almost 20 years of experience in the commercial real estate space and, unlike any brokerage firm, aids to accelerate the specialization and disposition of property sales through auction. Leading the auction services line, Robert will collaborate with Matthews agents and clients to identify auction opportunities within our active inventory and client roster. He works as an intermediary between clients and auction platforms. Regarded as one of the industry’s top Auction experts, Robert has been actively involved with over $5 billion in total asset value, including the record-setting sale of Beltway Business Park for $205 million in November of 2021. Robert’s unrelenting work ethic and intuition help him make the most informed decisions that provide the greatest long-term financial success and profitability for clients.
Prior to joining Matthews, Robert was a Vice President of Transaction Services where he grew revenue from $3 million in 2020 to $20 million and tripled the auction asset count. Robert also worked for Ten-X as a member of the team selling over $30 billion of commercial and residential properties and notes (performing and non-performing). From 2014-2018, Robert generated an averaged $1.5 million in revenue per year.
Prior to joining Matthews, Robert was a Vice President of Transaction Services where he grew revenue from $3 million in 2020 to $20 million and tripled the auction asset count. Robert also worked for Ten-X as a member of the team selling over $30 billion of commercial and residential properties and notes (performing and non-performing). From 2014-2018, Robert generated an averaged $1.5 million in revenue per year.
Kyle Matthews, Chief Executive Officer
Kyle Matthews is the Founder, Chairman, and Chief Executive Officer of Matthews Real Estate Investment Services™, a commercial real estate and technology firm with 18 offices and over 600+ personnel nationwide. The firm is a leader in commercial real estate brokerage providing advisory services in transactions, leasing, and debt/capital markets. Since Kyle founded the company in 2015, Matthews™ has become the fastest-growing commercial real estate firm in the country, is the largest privately held brokerage platform in the U.S., and has successfully closed over 14,600+ transactions totaling $41 billion in sales volume.
Kyle has an extensive background in the industry, with an aggregate value of $9 billion in transaction volume. In 2022 alone, Kyle led Matthews™ to complete $14.25 billion in sales, closing over 4,500 transactions, a 56.4 percent increase year-over-year. Prior to starting Matthews™, Kyle served as Vice President of Investments and thereafter as Executive Vice President at two publicly traded commercial real estate brokerage firms. In each of these roles, he was recognized for his client-focused commitment to results and ability to train and mentor teams to execute top sales. As a producer, he was viewed as an authority in the field of private client capital transactions, as well as the top performer industry-wide in both the shopping center and net leased transactions. Kyle has an extensive list of notable clients, including most of the largest global institutional real estate companies, in addition to U.S.-based publicly-traded REITs, private equity funds, development companies, and high net-worth private family offices.
Kyle has an extensive background in the industry, with an aggregate value of $9 billion in transaction volume. In 2022 alone, Kyle led Matthews™ to complete $14.25 billion in sales, closing over 4,500 transactions, a 56.4 percent increase year-over-year. Prior to starting Matthews™, Kyle served as Vice President of Investments and thereafter as Executive Vice President at two publicly traded commercial real estate brokerage firms. In each of these roles, he was recognized for his client-focused commitment to results and ability to train and mentor teams to execute top sales. As a producer, he was viewed as an authority in the field of private client capital transactions, as well as the top performer industry-wide in both the shopping center and net leased transactions. Kyle has an extensive list of notable clients, including most of the largest global institutional real estate companies, in addition to U.S.-based publicly-traded REITs, private equity funds, development companies, and high net-worth private family offices.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Jameson Kuykendall
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr RC51500217 Online Auction
Contacts
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Robert Anderson -
Jared Leikin -
Kyle Matthews -
Matthews Real Estate Investment Services
1 of 30
Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Institutionally Owned IUB Student Housing | 1722 N Walnut St
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Institutionally Owned IUB Student Housing | 1722 N Walnut St
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