8-Bedroom IU Campus-Area Investment Property | 401 S Highland Ave

AUCTION – Exceptional investment opportunity at the corner of Atwater Avenue and S. Highland Avenue, just steps from Indiana University.

Located at 401 S Highland Avenue in Bloomington, Indiana, this substantial brick property offers an outstanding combination of size, visibility and an irreplaceable campus-area location. Situated at the corner of Atwater Avenue and S. Highland Avenue, the property is positioned within the highly desirable area surrounding Indiana University and offers convenient access to campus, downtown Bloomington and the many businesses and destinations serving the IU community.

According to county property records, the two-story property was constructed in 1970 and offers approximately 2,444 square feet of finished space, including approximately 728 square feet of finished basement area. The records identify 8 bedrooms, 2 full bathrooms and 12 total finished rooms, providing significant space and flexibility for its current income-producing use. County records classify the property as a two-family dwelling on a platted lot.

Additional features include brick and masonry construction, central warm-air heating, central air conditioning, a full basement and an enclosed masonry porch. The property sits on approximately 0.08 acres with paved street frontage and sidewalks. The property is also located within the Elm Heights Historic District, according to Monroe County GIS records. Buyers should independently investigate any applicable historic district guidelines, zoning requirements and permitted uses.

Currently utilized as an income-producing property, 401 S Highland Avenue presents a compelling opportunity for investors seeking a larger-capacity rental asset in the immediate Indiana University campus area. With eight bedrooms, a corner location and an established multi-unit classification, this property stands out within the overall portfolio as an opportunity for continued investment use and long-term ownership in one of Bloomington's most sought-after locations.

The property is conveniently located near Indiana University, the Jacobs School of Music, IU academic and medical facilities, restaurants, dining, entertainment and downtown Bloomington. Its location along Atwater Avenue provides connectivity to both the university and the broader Bloomington community while placing residents within the energy and activity surrounding campus.

401 S Highland Avenue is one of seven investment properties at the edge of Indiana University being offered as part of a generational real estate portfolio auction. Buyers have the opportunity to pursue this property individually or consider the strategic possibilities of acquiring multiple properties being offered during the same auction event.

Online Bidding Opens: August 20, 2026
Live/Simulcast Auction: Thursday, August 27, 2026 at 1:00 PM ET
Live Auction Location: Bloomington Convention Center, Bloomington, Indiana

Eight bedrooms. A prominent corner location. Steps from the Indiana University campus community. This is an opportunity to add a substantial Bloomington property to your investment portfolio in a location that cannot be recreated.