18088-18140 Legacy Village Ct - Apartments FOR SALE


South Bend, IN 46637- North Side
$19,750,000 USD
574-360-6881
18088-18140 Legacy Village Ct, South Bend, IN for Sale
$19,750,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

18088-18140 Legacy Village Ct
South Bend, IN 46637
North Side


HIGHLIGHTS

  • One-of-a-kind off-campus Notre Dame University student housing investment
  • Highly desired by Notre Dame students
  • Has been the residence to various prominent alumni families
  • 100% occupancy since being built in 2009
  • Approved for expansion of 84 students to 98 students for the 2026-2027 school year
  • Incredibly well maintained with over $750,000 in improvements over the past 5 years

OVERVIEW

A one-of-a-kind investment opportunity in one of the most desirable and reputable student housing off-campus developments offered near the University of Notre Dame (the 12th ranked University in the country by College Consensus and America's Best Large Employer by Forbes). Boasting some of the strongest favorability amongst Notre Dame students with its secluded community atmosphere while also enjoying incredible proximity to campus. Many prominent Notre Dame staff and alumni have resided here including generations of alumni families. Legacy Village has a strong track record of 100% occupancy every year since 2009 and exceptional pre-leasing success for incoming years. Averaging around 5.8% base rent growth from 2020-2027 and a current 6.58% CAP Rate, Legacy Village has recently been approved for the ability to expand from 84 to 98 students starting the 2026-2027 school year. The development in entirety includes 14 well-built brick townhomes consisting of 6 bedrooms and 4 bathrooms each spread across 3,200 SF. The townhomes come fully furnished with large bedrooms and multiple common areas. The development also includes an abundant amount of surface parking, a pickleball court for students, private yard areas for each townhome, and a storage shed for maintenance. The current owners have done a superb job of maintaining the townhomes, spending over $750,000 in upgrades over the past 5 years that include new flooring, appliances, painting, furniture, water heaters, HVAC systems, shed, and pickleball court. A complete breakdown of financials and townhome details are available upon the signing of a Confidentiality Non-Disclosure Agreement.

FOR SALE DETAILS

PRICE

$19,750,000 USD

PRICE/SF

$244 USD /SF

# OF UNITS

14

PRICE/UNIT

$1,410,714

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Legacy Village Graduate Housing at Notre Dame

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2009

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.6 AC

LAND SF

113,256 SF

ZONING

PUD

APN/PARCEL ID

71-04-31-228-014.000-003,71-04-31-228-031.000-003

ASK ABOUT THIS PROPERTY

John PiracciniColdwell Banker CommercialMore Info
574-360-6881

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John PiracciniColdwell Banker CommercialMore Info
574-360-6881

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.