Closed

$187,000

1518 Lincoln Way W, South Bend, IN 46628

4beds

4,284sqft

Quadruplex

Built in 1928

-- sqft lot

$189,500 Zestimate^®

$--/sqft

$1,355 Estimated rent

Home value

$189,500

$171,000 - $210,000

$1,355/mo

Zestimate^® history

Owner options

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$1,355/mo

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$1,355/mo

Rent Zestimate^®

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$1,208/mo

Est. payment

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$1,208/mo

Est. payment

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What's special

Large off-street parking lot

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.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 4
Full bathrooms: 4

Heating

Forced Air

Cooling

Central Air

Appliances

Laundry: Washer Hookup

Features

Flooring: Part Carpet, Vinyl Tile, Wood
Has basement: No

Interior area

Total structure area: 4,284
Total interior livable area: 4,284 sqft
Finished area above ground: 4,284
Finished area below ground: 0

Property

Parking

Total spaces: 6

Features

Levels: Two
Stories: 2

Lot

Size: 4,356 Square Feet
Dimensions: 40X113
Features: Corner Lot, Level, 0-2.9999

Details

Additional structures: None
Parcel number: 710802308003.000026

Construction

Type & style

Home type: MultiFamily
Property subtype: Quadruplex

Materials

Brick
Foundation: Slab, Basement

Condition

New construction: No
Year built: 1928

Utilities & green energy

Sewer: City
Water: City

Community & HOA

Community

Security: Smoke Detector(s)
Subdivision: Pleasant Homes

Location

Region: South Bend

Financial & listing details

Annual tax amount: $1,954
Date on market: 1/8/2026
Listing terms: Cash,Conventional
Inclusions: Building, Land
Lease term: 12 Months
Tenant pays: Cable TV, Cooling, Electricity, Heating, Trash Collection, Water

Price history

Date	Event	Price
4/3/2026	Sold	$187,000-6.5%
Source: IRMLS #202600833 Report a problem
2/20/2026	Pending sale	$199,900
Source: IRMLS #202600833 Report a problem
1/27/2026	Price change	$199,900-4.4%
Source: IRMLS #202600833 Report a problem
1/8/2026	Price change	$209,000+39.4%
Source: IRMLS #202600833 Report a problem
5/17/2021	Pending sale	$149,900+78.5%
Source: IRMLS #202116380 Report a problem
5/23/2019	Listing removed	$84,000$20/sqft
Source: Cressy & Everett - South Bend #201919747 Report a problem
5/18/2019	Listed for sale	$84,000-1.1%$20/sqft
Source: Cressy & Everett - South Bend #201919747 Report a problem
8/7/2017	Listing removed	$475
Source: Zillow Rental Manager Report a problem
7/8/2017	Listed for rent	$475
Source: Zillow Rental Manager Report a problem
3/25/2016	Listing removed	$84,900$20/sqft
Source: Coldwell Banker Roth Wehrly Graber #201548118 Report a problem
3/11/2016	Price change	$84,900-0.1%$20/sqft
Source: Coldwell Banker Roth Wehrly Graber #201548118 Report a problem
10/13/2015	Listed for sale	$85,000-5.5%$20/sqft
Source: Coldwell Banker Roth Wehrly Graber #201548118 Report a problem
7/2/2015	Listing removed	$89,900$21/sqft
Source: RE/MAX 100 Inc #201431758 Report a problem
4/30/2015	Price change	$89,900-4.9%$21/sqft
Source: RE/MAX 100 Inc #201431758 Report a problem
7/26/2014	Listed for sale	$94,500$22/sqft
Source: RE/MAX 100 INC - IN #201431758 Report a problem