Elkhart, IN Multifamily Properties for Sale

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Updated: Jun 14

Mixed-Use Building with Retail and Apartments

209 S 2nd Street, Elkhart, IN 46516

$399,900

4,252 sqft 0.17 AC lot

Mixed‑use downtown Elkhart building with main‑level commercial storefront plus two upper‑level residential apartments
Two residential units, each 1 bedroom and 1 bathroom, with 10‑foot ceilings, hardwood floors, granite counters, and large windows
Main‑level commercial layout includes an open secretary room, 5 office rooms, plus 2 bathrooms, a kitchen, and a storage room
Central air cooling and off‑street parking available
Fireplace included; building was built in 1915

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This listing looks promising.

Here's a quick look at some key insights for

209 S 2nd Street, Elkhart, IN 46516

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Est. Cap Rate

8.8%
Above avg (5.9%)
Est. NOI

$35K
Annual
Price @ 7% Cap

$505K
Above asking
Last Sold

Jul 2017
$32K
Property Type

Commercial (General)
Built 1915

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Updated: Jun 24

Updated 2-Unit Duplex

400 Jefferson Street, Elkhart, IN 46516

$144,900

2,500 sqft 0.21 AC lot

2‑unit home at 400 Jefferson Street with separate dwellings: 2BR/1BA main floor and 3BR/1BA second‑story unit
Updates include newer roof, newer windows and siding, updated bathrooms, newer furnaces, and a newer water heater
Off‑street parking available in the rear of the building
Flooring includes carpet and laminate
Year built: 1900

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Duplex with Detached Parking

412 W Beardsley Avenue, Elkhart, IN 46514

$179,900

1,912 sqft 0.34 AC lot

Duplex includes a 3-bed unit with finished basement and a separate 1-bed suite, with attached and detached garages.

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Renovated Three-Unit Rental

616 N Michigan Street, Elkhart, IN 46514

$209,900

1,502 sqft 0.20 AC lot

Three-unit residential property in Elkhart with recent renovations and a newly installed furnace.

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Updated Duplex Income Property

23724/23726 Springriver Drive, Elkhart, IN 46516

$324,900

1,311 sqft 0.46 AC lot

Well maintained duplex with recent roof, water heater, and HVAC updates for long-term rental ownership.

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Residential Income Retreat with 3BR/2BA

57507 Red Bud Lane, Elkhart, IN 46517

$535,900

1,054 sqft 8.01 AC lot

Built in 2025 and currently operated as an Airbnb on private acreage near Notre Dame.

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Updated Duplex Income Property

23663/23665 Springriver Drive, Elkhart, IN 46516

$324,900

1,383 sqft 0.46 AC lot

Well maintained duplex offers a straightforward owner-occupied or investment rental setup with confirmed tenant-respect walkthrough procedures.

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Four-Unit Residential Income Property

415 N 2nd Street, Elkhart, IN 46516

$179,900

2,182 sqft 0.16 AC lot

Four-unit residential income property with multiple recent updates including a 2024 roof and 2023 window replacements.

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Twelve-Unit Multifamily Property

701 W Beardsley Avenue, Elkhart, IN 46514

$499,000

10,290 sqft 0.32 AC lot

12-unit multifamily with nine leased units, two vacant units, and an outbuilding on a 0.32-acre lot.

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Mixed-Use Main Street Building

121 & 123 S Main Street, Elkhart, IN 46516

$795,000

0.18 AC lot

Two storefront spaces with six apartments above, plus new 2024 roof, supporting office or retail use with income potential.

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Multifamily Rental Property

301 W Jackson Boulevard, Elkhart, IN 46516

$130,000

2,502 sqft 0.08 AC lot

Well-maintained rental property for sale, offering flexibility for continued use or reconfiguration for future operating plans.

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Updated Duplex with New Roof

23692/23694 Springriver Drive, Elkhart, IN 46516

$324,900

1,435 sqft 0.46 AC lot

Well maintained updated duplex near Concord Schools, with a new roof and updated water heaters.

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Twelve-Unit Apartment Building

701 W Beardsley Avenue, Elkhart, IN 46514

$499,000

0.33 AC lot

Twelve-unit multifamily asset with multiple vacancies and recent electrical improvements for future utility separation.

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Based on your search, we've compiled 67 Potential Opportunities for your consideration. Besides 13 Active listings in Elkhart, IN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 46 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Turnkey Duplex Income Property

122 Crescent Street, Goshen, IN 46528

$185,000

2,382 sqft 0.50 AC lot

Duplex with separate utility metering and a barn for additional rental income on a corner lot.

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Residential Triplex with 2-Car Garage

412 East 4th Street, Mishawaka, IN 46544

$249,900

1,534 sqft

Three currently rented units on one lot, including a 2-car garage with the rear duplex layout.

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Brick Duplex with Covered Porch

323 South 6th Street, Goshen, IN 46528

$309,000

2,868 sqft

Brick duplex with two separate units, hardwood floors, and washer/dryer amenities suited for rental or owner-occupancy.

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Mixed-Use Property in Downtown Mishawaka

608 N Main Street, Mishawaka, IN 46545

$1,350,000

Investment opportunity near Mishawaka Riverwalk with retail and apartments.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Wooded Homesite in Wheatfield, Indiana

4418 Oakland Court, Wheatfield, IN 46392

Contact for pricing

0.57 AC lot

Spacious, wooded 0.57-acre lot in established neighborhood.

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University Park Developable Land

976 Mesa Court, University Park, IL 60484

Contact for pricing

3.20 AC lot

3.2 acres with 24 concrete housing pads in University Park.

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Expansive Land with Development Potential

VL N Fleming Road, Fowlerville, MI 48836

$6,900,000

354.27 AC lot

350+ acres of prime land with two scenic lakes.

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Land For Sale, Lakemoor, IL

27 Oyster Bay, Lakemoor, IL 60051

Contact for pricing

0.12 AC lot

Commercial land available in Lakemoor, Illinois.

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Off-Market Properties in Elkhart, IN

Consider similar Off-Market properties in Elkhart, IN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

CAMPGROUND, RV PARK

3075 Belvedere Rd, Elkhart, IN 46514-5544

Value Estimation by Request

1,824 sqft 5.17 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

208 State St, Elkhart, IN 46516-0012

Value Estimation by Request

8,204 sqft 0.39 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

1624 Windsong Dr, Elkhart, IN 46514-4190

Unit 27

Value Estimation by Request

4,512 sqft 1.03 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

1626 Windsong Dr, Elkhart, IN 46514-4192

Value Estimation by Request

4,512 sqft 0.31 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

100 Michigan St, Elkhart, IN 46514-2567

Value Estimation by Request

5,970 sqft 0.24 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

465 Simpson Ave, Elkhart, IN 46516-4754

Value Estimation by Request

3,827 sqft 0.27 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

465 Simpson Ave, Elkhart, IN 46516-4754

Value Estimation by Request

4,070 sqft 0.23 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

465 Simpson Ave, Elkhart, IN 46516-4754

Value Estimation by Request

4,070 sqft 0.32 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

214 Main St, Elkhart, IN 46516-3172

Value Estimation by Request

11,325 sqft 0.09 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

30082 Tower Rd, Elkhart, IN 46516-7006

Value Estimation by Request

2,400 sqft 0.29 AC lot

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APARTMENT HOUSE (UNDER 5 UNITS)

3803 Main St, Elkhart, IN 46517-3510

Value Estimation by Request

4,048 sqft 1.23 AC lot

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Elkhart, IN Multifamily Properties Market Trends and Statistics

Explore 59 multifamily properties for sale in Elkhart, IN, showcased through 13 active listings on our real estate platform. These investment opportunities span a total of 30,323 square feet of properties for sale, with an estimated market value of $3,254,100.

Sale prices for multifamily properties in Elkhart, IN start at $130,000, averaging $295,827, and reaching up to $535,900 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 99K

Population Growth (5Y) -0.8%

Median Household Income $57,378

College Educated 17.6%

High-Yield Neighborhoods for Investment

Identify Elkhart submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
46516	$307K
46514	$499K

Taxes & Financing

Tax Rate (average for all types) 2.57%

Property Tax per SF $42.55 per SF

Tax Rate vs County Average 0.11 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Elkhart County

New Delisted

Property Size Breakdown

The majority of commercial real estate listings in Elkhart fall within the 100,000+ square foot range.

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Elkhart, IN Multifamily Properties for Sale

209 S 2nd Street, Elkhart, IN 46516

400 Jefferson Street, Elkhart, IN 46516

412 W Beardsley Avenue, Elkhart, IN 46514

616 N Michigan Street, Elkhart, IN 46514

23724/23726 Springriver Drive, Elkhart, IN 46516

57507 Red Bud Lane, Elkhart, IN 46517

23663/23665 Springriver Drive, Elkhart, IN 46516

415 N 2nd Street, Elkhart, IN 46516

701 W Beardsley Avenue, Elkhart, IN 46514

121 & 123 S Main Street, Elkhart, IN 46516

301 W Jackson Boulevard, Elkhart, IN 46516

23692/23694 Springriver Drive, Elkhart, IN 46516

701 W Beardsley Avenue, Elkhart, IN 46514

Opportunities in Nearby Cities

122 Crescent Street, Goshen, IN 46528

412 East 4th Street, Mishawaka, IN 46544

323 South 6th Street, Goshen, IN 46528

608 N Main Street, Mishawaka, IN 46545

Potential Development Sites for Consideration

4418 Oakland Court, Wheatfield, IN 46392

976 Mesa Court, University Park, IL 60484

VL N Fleming Road, Fowlerville, MI 48836

27 Oyster Bay, Lakemoor, IL 60051

Off-Market Properties in Elkhart, IN

3075 Belvedere Rd, Elkhart, IN 46514-5544

208 State St, Elkhart, IN 46516-0012

1624 Windsong Dr, Elkhart, IN 46514-4190

1626 Windsong Dr, Elkhart, IN 46514-4192

100 Michigan St, Elkhart, IN 46514-2567

465 Simpson Ave, Elkhart, IN 46516-4754

465 Simpson Ave, Elkhart, IN 46516-4754

465 Simpson Ave, Elkhart, IN 46516-4754

214 Main St, Elkhart, IN 46516-3172

30082 Tower Rd, Elkhart, IN 46516-7006

3803 Main St, Elkhart, IN 46517-3510

Elkhart, IN Multifamily Properties Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Property Size Breakdown

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