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Marcus & Millichap Facilitates $4.3M Sale of River Shore Apartments in South Bend
Marcus & Millichap has successfully brokered the sale of River Shore Apartments, a 48-unit multifamily community located in South Bend, Indiana, for $4.3 million.
“River Shore Apartments is a beautiful property with views overlooking the Saint Joseph River, located just one mile from Indiana University South Bend and Bethel College,” said Jack Friskney, Director of Investments at Marcus & Millichap. “With 5.3% rent growth over the past year and minimal new construction, we anticipate the South Bend market will continue to outperform national averages.”
The Indianapolis-based investment sales team—consisting of Friskney, Aaron Kuroiwa, and Austin Meeker—held the exclusive listing and successfully represented the South Bend-based seller while securing a buyer from Detroit.
Located at 3530 Northside Blvd., River Shore Apartments features a mix of four one-bedroom and 44 two-bedroom units. The property, built in 1969 on 2.12 acres, offers 41,900 square feet of rentable space. Notably, 39 of the 48 units have undergone recent renovations.
This transaction continues to highlight strong investor demand in secondary markets, including South Bend, where limited new development and consistent rent growth present appealing opportunities for multifamily investment.
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