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.

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.