IU Campus-Area Investment Property | 409 S Swain Avenue

AUCTION – Established income-producing investment property in a prime location at the edge of Indiana University.

Located at 409 S Swain Avenue in Bloomington, Indiana, this spacious campus-area property offers a compelling combination of bedroom capacity, finished living space, parking and proximity to Indiana University. Just off Atwater Avenue, the property is positioned for convenient access to campus and the many academic, dining, entertainment and employment destinations that make this area one of Bloomington's most active investment markets.

According to county property records, the one-story property was originally constructed in 1948 and offers approximately 2,478 square feet of finished space, including approximately 1,113 square feet of finished basement area. County records identify 8 bedrooms and 4 full bathrooms, along with two kitchen sinks and two water heaters. The property is classified by the county as Other Commercial Housing.

The main level provides approximately 1,365 square feet of finished space, while the finished basement significantly expands the property's usable footprint. Additional features include central warm-air heating, central air conditioning, a masonry stoop with roof canopy and an approximately 525-square-foot concrete patio.

A particularly valuable feature for a campus-area property is the property's substantial paved area. County records identify approximately 2,500 square feet of asphalt paving, providing valuable space for off-street parking. The property sits on approximately 0.18 acres, making it one of the larger lots within this portfolio.

Currently utilized as an income-producing property, 409 S Swain Avenue offers investors an opportunity to acquire an established rental asset with significant bedroom and bathroom capacity near Indiana University. Its combination of eight bedrooms, four full bathrooms, finished space on two levels and off-street parking makes this property particularly well suited for continued investment use.

Located just off Atwater Avenue, the property provides convenient access to Indiana University, the Jacobs School of Music, IU academic and medical facilities, restaurants, dining, entertainment and downtown Bloomington. In an investment market driven heavily by location and accessibility, 409 S Swain Avenue puts residents close to the activity and opportunities surrounding the university.

409 S Swain Avenue is one of seven investment properties at the edge of Indiana University being offered as part of a generational real estate portfolio auction. Buyers may pursue this property individually or explore the opportunity to acquire multiple properties being offered through the same auction event.

Online Bidding Opens: August 27, 2026
Live/Simulcast Auction: Thursday, September 3, 2026 at 1:00 PM ET
Live Auction Location: Bloomington Convention Center, Bloomington, Indiana

Eight bedrooms. Four full bathrooms. Off-street parking. An established investment property in an irreplaceable Indiana University campus-area location.

AUCTION LINKS: 

• Bidder information packet
  
  
• Click here for interactive map

• Terms and conditions

• Bid Certification

• Preliminary Title Commitment

Property details are based in part on county and MLS records and are deemed reliable but not guaranteed. Buyers should independently verify square footage, bedroom and bathroom counts, acreage, unit configuration, parking, occupancy, rental information, zoning, permitted uses and all other material information.