Large IU Campus-Area Investment Property | 1331 E Atwater Avenue

AUCTION – Substantial income-producing investment property prominently
located at the corner of E Atwater Avenue and S Eagleson Avenue near Indiana
University.

Located at 1331 E Atwater Avenue in Bloomington, Indiana, this
expansive brick property combines significant finished space with a highly
visible corner location in the active campus-area market surrounding Indiana
University. With multiple finished levels and an established rental use, this
property presents an opportunity for investors seeking both scale and location
in one Bloomington asset.

The property was originally constructed in 1938 and offers approximately 3,870
square feet of finished living space. The layout includes approximately 1,134
square feet on the main level, 918 square feet on the second floor, 918 square
feet of finished attic area and approximately 900 square feet of finished
basement space.

The current MLS information identifies the property as having 10
bedrooms and 2 full bathrooms, while county records also indicate a half
bathroom and classify the property as a two-family dwelling on a platted lot.
The property record further notes two kitchen sinks, providing additional
functionality for its established investment use.

Additional features include brick construction, central warm-air
heating, central air conditioning, a fireplace, an open masonry porch and a
full basement. The property sits on approximately 0.10 acres with
paved street frontage, sidewalks and public utilities available.

One of this property’s greatest advantages is its prominent position at
the corner of E Atwater Avenue and S Eagleson Avenue. This location
provides convenient access to Indiana University and places the property near
the Jacobs School of Music, IU academic and medical facilities, Mother Bear’s
Pizza, dining, entertainment and the broader Bloomington campus community.

Currently utilized as an income-producing property, 1331 E Atwater Avenue
offers an opportunity to acquire a substantial campus-area asset with
significant finished space across multiple levels. Its county classification as
a two-family dwelling, established rental use and corner location create a
compelling opportunity for investors looking to add to or expand their
Bloomington portfolio.

This property is one of seven investment properties at the edge of
Indiana University being offered as part of a generational real estate
portfolio auction. Buyers may pursue 1331 E Atwater Avenue individually or
explore the strategic opportunity of acquiring multiple properties offered
through the same auction event.

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

Nearly 3,900 finished square feet. A prominent Atwater and Eagleson
corner location. An established investment property 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, unit configuration, acreage, occupancy,
rental information, zoning, permitted uses and all other material information.