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.

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.