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Listed by Kyle Hoffman • @properties
$ 509,800
Est. payment | /mo
2,613 Sqft Lot
$ 509,800
Est. payment | /mo
2,613 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Fountain Square
MLS Listing ID 22106437
Year Built 1920
Tax Year 2025
Lot Size 2,613 Sqft
Acres 0.06
Property Sub-Type Duplex
Property Description
Rare opportunity to purchase two furnished, income-producing mid-term rental properties preferably sold as a pair in one of Indy's most convenient near-downtown locations. Located at 1119 and 1123 S Randolph St, these two neighboring homes share a backyard and have been successfully utilized as furnished rent-by-the-room stays, primarily serving healthcare professionals and traveling tenants looking for flexible housing near downtown Indianapolis, Fountain Square, local hospitals, and major employment hubs. The properties offer a strong current income, operational flexibility, and long-term upside. Each home is already furnished and currently operating as a room-by-room rental, creating a turnkey opportunity for an investor looking to step into an existing mid-term rental model rather than build one from scratch. Income for 1119 S Randolph St generated $36,157.17 in total gross income, while 1123 S Randolph St generated $32,215.26 in total gross income. Together, the two properties produced $68,372.43 in total gross income during that period. Whether continuing the current furnished rent-by-the-room strategy, transitioning to traditional mid-term rentals, or exploring another furnished housing model, this package gives investors multiple paths to operate and optimize. With proximity to downtown Indy, Fountain Square, local hospitals, major interstates, restaurants, nightlife, and employment centers, these homes are well-positioned for continued tenant demand from traveling healthcare workers, professionals, and renters seeking flexible furnished housing.
Location
State IN
County Marion
Interior
Fireplace N
Building
New Construction false
Schools
School District Indianapolis Public Schools
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