IU Campus-Area Investment Property | 1321 E Atwater Avenue

AUCTION – Campus-area investment property located along E Atwater Avenue
near Indiana University.

Located at 1321 E Atwater Avenue in Bloomington, Indiana, this
established rental property offers an opportunity to acquire a manageable
investment asset in the highly sought-after area immediately surrounding
Indiana University. Positioned along one of the primary corridors bordering
campus, the property combines an established rental use with convenient access
to IU and the surrounding Bloomington community.

Originally constructed in 1946, the one-story home offers
approximately 1,038 square feet of above-grade finished living space,
plus approximately 500 square feet of finished basement area, according
to county records. The property includes 2 bedrooms, 1 full bathroom and 6
total rooms.

Additional features include a full walk-out basement, central warm-air
heating, central air conditioning, fireplace and open frame porch. County
records also indicate a 200-square-foot garage. The property is situated
on approximately 0.08 acres with paved street frontage, sidewalks and
public utilities.

The property is currently classified by county records as rental/other
commercial housing, while the MLS identifies the property as a site-built
residential home. The MLS also identifies the current City of Bloomington
zoning as MM – Mixed-Use Medium-Scale. Buyers should independently
investigate zoning, permitted uses, occupancy requirements and future
redevelopment possibilities as part of their due diligence.

One of this property’s greatest advantages is its E Atwater Avenue
location at the edge of Indiana University. From here, residents and
investors have convenient access to IU facilities, the Jacobs School of Music,
dining, entertainment, downtown Bloomington and the broader campus community.

For investors, the property’s combination of established rental use,
campus-area location and Mixed-Use Medium-Scale zoning makes 1321 E Atwater
Avenue an interesting addition to a Bloomington investment portfolio. Its
smaller footprint also provides a different investment opportunity than some of
the larger properties included in this portfolio.

This property is part of a generational real estate portfolio auction
featuring multiple investment properties at the edge of Indiana University.
Buyers may pursue 1321 E Atwater Avenue individually or explore the strategic
opportunity of acquiring multiple properties offered through the same auction
event.

Property Inspection: Friday, August 14 | 9:00 AM–5:00 PM
Online Bidding Opens: August 27, 2026
Live/Simulcast Auction: Thursday, September 3, 2026 at 1:00 PM ET
Live Auction Location: Bloomington Convention Center, Bloomington,
Indiana

Campus-area location. Established rental use. Mixed-use zoning. An
opportunity to invest at the edge of Indiana University.

AUCTION LINKS: 

• Bidder information packet
• Click here for interactive map
• Terms and conditions
• Bid Certification
• Realtor Client Information 
• Preliminary Title Commitment

Property details are based in part on county and MLS records and are
deemed reliable but not guaranteed. Buyers should independently verify square
footage, bedroom and bathroom counts, finished basement area, acreage,
occupancy, rental information, zoning, permitted uses and all other material
information.