Listing courtesy of St. Joseph Realty Group · Listing agent: Stephen DiJulius
Properties displayed may be listed or sold by various participants in the MLS.
1518 Lincoln Way West
$187,000
South Bend, IN 46628Pleasant Homes
Listed at $199,900 Sold April 3, 2026 Original price $209,000 · Price reduced on April 5, 2026
- Bedrooms
- 4
- Bathrooms
- 4
- Living area
- 4,284 sq ft
- Lot
- 0.1 ac
- Year built
- 1928
- Type
- Fourplex
- Listed
- January 8, 2026
- MLS #
- 202600833
About this home
Investor opportunity! Well-maintained fully occupied 4-plex in Northwest South Bend offering stable in-place income with upside through rent optimization. All units are 1 bed / 1 bath on 1-year leases, making this a clean, scalable portfolio addition. Current gross rents approx. $2,925/month, with below-market rents and a strong rental history showing prior rents as high as $900–$1,100/month, providing clear room for growth. The property has been consistently maintained and does not require major rehab, allowing a new owner to step in without heavy capital expenditures. Located on a high-visibility corridor in a working-class pocket of Northwest South Bend, this asset is well suited for investors focused on cash flow, workforce housing, and portfolio growth. A large off-street parking lot adds meaningful tenant appeal and long-term stability. Seller is completing minor common-area improvements, including a window replacement and fresh paint.
Property details
Interior
- Levels
- Two
- Stories
- 2
- Total area
- 4,284 sq ft
- Finished area above grade
- 4,284 sq ft
- Bedrooms above grade
- 4
- Basement
- Slab
- Flooring
- Carpet, Vinyl, Wood
- Heating
- Forced Air
- Cooling
- Central Air
- Amenities
- Basement, Detector-Smoke, Washer Hook-Up
Exterior & parking
- Construction
- Brick
- Private pool
- No
- New construction
- No
Waterfront & lake
- Waterfront
- No
Lot
- Subdivision
- Pleasant Homes
- Lot features
- Corner Lot, Level, 0-2.9999
- Lot size (acres)
- 0.1 ac
- Lot dimensions
- 40X113
- County
- St. Joseph County
- Township
- Portage
- Platted
- Yes
- Planned unit development
- No
- Directions
- From Wilber St., E on Lincoln Way W., building right.
Schools
- Elementary school
- Madison
- Middle school
- Clay
- High school
- Riley
- School district
- South Bend Community School Corp.
Taxes & terms
- Annual taxes
- $1,954
- Tax year
- 23
- Listing terms
- Cash, Conventional
- Possession
- DOC
- Parcel number
- 71-08-02-308-003.000-026
Included in the sale
- Included in sale
- Building,Land
Utilities
- Water
- City
- Sewer
- Public Sewer
Income & commercial
- Units
- 4
- Annual gross rent
- $28,130
- Net operating income
- $7,218
- Lease term
- 12 Months
- Parking spaces
- 6
- Pets allowed
- Yes
- Tenant pays
- Cable TV, Cooling, Electricity, Heat, Trash Collection, Water
- Insurance (annual)
- $2,211
- Water & sewer (annual)
- $2,640
Location
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