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Listed by Max Moore • @properties
$ 949,500
Est. payment | /mo
5,227 Sqft Lot
$ 949,500
Est. payment | /mo
5,227 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision State Plaza
MLS Listing ID 22119985
Year Built 1910
Tax Year 2025
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Quadruplex
Property Description
Eight units, all one bed one bath, on one of the most active corridors in Indianapolis. Six are leased today and bringing in $6,740 a month. The other two are vacant and turn-ready, no renovation required. Lease them at the $1,175 the building next door already gets and this property runs $9,400 a month, or $112,800 a year. That is the entire value-add, and it costs nothing but a lease-up. Every unit was renovated under current ownership. New flooring, fresh paint, updated fixtures, modern kitchens and bathrooms. Electronic locks on every door, so a turnover is not a rekey project. Seventeen months of seller actuals put operating expenses near $27,300 a year including taxes, insurance, maintenance, trash, pest and internet. Filled up, that is a net operating income around $79,900 before debt. Shared rear parking gives every tenant a space. Roof, electrical, plumbing and HVAC were all inspected at acquisition and the reports are available. East Washington is drawing real neighborhood investment right now, with quick access to downtown, Fountain Square and Irvington. You are buying into the path of growth, not chasing it. The identical eight-unit next door at 2012 E Washington is also for sale, and the two can be bought together as a 16-unit package. Rent roll, profit and loss, and the full deal package are ready for qualified buyers. Sold as-is.
Location
State IN
County Marion
Zoning CMF
Interior
Fireplace N
Building
Story Two
New Construction false
Schools
School District Indianapolis Public Schools
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