Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of River Shore Apartments, a 48-unit multifamily property in South Bend, Indiana.
“River Shore Apartments is a beautiful property with views overlooking the Saint Joseph River, located just one mile from IU South Bend and Bethel College,” said Jack Friskney, director investments. “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.”
Friskney, Aaron Kuroiwa and Austin Meeker, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the South Bend-based seller, and procured the Detroit-based buyer.
River Shore Apartments, located at 3530 Northside Boulevard, comprises 4 one-bedroom and 44 two-bedroom units, with select apartments offering views of the Saint Joseph River. Built in 1969 on 2.12 acres, the property includes 41,900 rentable square feet, and 39
of the 48 units have been renovated. There are numerous amenities, including a dog park, car ports, and small storage compartments for tenants. The property is near Indiana University South Bend, Bethel College and the University of Notre Dame.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
