1106 S 20TH ST, South Bend, IN 46615
Multifamily student housing with 66 units and 133 beds, supported by extensive recent capital improvements and upgrades.
- Added:
- Jun 10, 2026
- Days on Market:
- 15
- Last Refresh:
- Jun 20 at 6:49 am
Property Features for 1106 S 20TH ST
General Information
- Standard status
- Active
- Size
- 58,544 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1961
Listing agent Carter Piper License #RB24000949
Listing office XMARK Midwest
Listing date Jun 10, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of XMARK Midwest
HighLights
- 66‑unit multifamily student housing with 133 beds (property originally constructed in 1957 and 1961)
- Unit mix: (14) 1 bed/1 bath (632 SF), (37) 2 bed/2 bath (868 SF), and (15) 3 bed/2 bath (1,172 SF)
- Recent capital improvements include elevator replacements and HVAC/mechanical replacements
- Fire system upgrades and replacements, plus roof replacements and window replacements
- Security and access upgrades include new security system/cameras and keyless entry
- On‑site upgrades include washer/dryer replacements and interior/exterior painting
Overview
The property is located at 1106 S 20TH ST in South Bend, Indiana, and is described as being positioned for demand tied to Indiana University South Bend.
This asset is best suited to operators seeking a purpose-built student housing platform with a unit mix spanning one- through three-bedroom layouts. The scale of the bed count, combined with the documented building and systems updates, supports straightforward residential management and tenant experience for a student-oriented tenant base.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $948.4k | $16.20 |
| − Vacancy | −$71.1k | −$1.22 |
| EGI | $877.3k | $14.99 |
| − OpEx | −$394.8k | −$6.74 |
| NOI | $482.5k | $8.24 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- South Bend
- County
- St. Joseph
- State
- Indiana
- Longitude
- -86.217366
- Latitude
- 41.663164
