Marcus & Millichap is excited to present the Historic Nashville Apartments, a prime investment opportunity featuring 5 buildings and 25 units in downtown South Bend, Indiana. Located just 3 blocks from Main Street, on the border of downtown and the West Washington historic district, this property is within close proximity to key development projects totaling about $450 Million. These projects include the South Bend Memorial Hospital expansion (1 mile), the South Bend Cubs Stadium and Diamond View Apartments development (half a mile), the upcoming Madison Lifestyle District (half a mile), and the Notre Dame Tribune Building redevelopment project (quarter mile).
With recent rent increases, modern interior updates, and established operational efficiencies, Historic Nashville offers a remarkable turnkey investment opportunity with further growth potential for the next owner. The portfolio, consisting of homes originally built in the late 1800s and early 1900s, includes 8 studio units, 13 one-bedroom units, 3 two-bedroom/one-bath units, and 1 two-bedroom/two-bath unit.
With exterior renovations to boost curb appeal and ongoing rent growth, a new investor can acquire a cash-flowing asset on nearly an acre of land, offering significant potential for further upside. In addition, there is the opportunity to acquire the Nashville Flats, a 29 Unit apartment complex across the street to create 54 units of scale.