Indianapolis, IN Apartment Buildings for Sale

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27 properties

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Updated: Oct 10, 2025

Six-Unit Brick Apartment Building

2101 N Pennsylvania Street, Indianapolis, IN 46202

$1,555,000

0.14 AC lot

Six‑unit all‑brick apartment building with over 13,500 square feet
Each residence has 3 bedrooms and approximately 2,000 square feet
Fully occupied multifamily property
0.14‑acre parcel at 2101 N Pennsylvania Street, Indianapolis, IN 46202
Lower level offers additional space for storage, amenities, or workspace, subject to approvals

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Updated: May 23

12-Unit Brick Apartment Buildings

1635 Central Avenue, Indianapolis, IN 46202

$1,500,000

0.36 AC lot

12 apartments in three all‑brick buildings, with 4 units per building
Each apartment offers 2 bedrooms and 1 bath
0.36‑acre property built in 1930
95% occupancy maintained over the past several years
Individually metered electric service with separate furnace, central air, and water heater in each unit

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Historic-District Apartment Building

1627 N Talbott Street, Indianapolis, IN 46202

$250,000

0.19 AC lot

Full-renovation multifamily asset with a surface parking lot and basement.

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Pre-War Brick Multifamily Building

5819 E Washington St, Indianapolis, IN 46219

$950,000

10,000 sqft 0.25 AC lot

Fourteen-unit pre-war property with 13 studios and one one-bedroom unit on a small, well-maintained site.

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Historic Woodruff Place Multifamily Investment

609 Woodruff Place Middle Drive, Indianapolis, IN 46201

$775,000

5,150 sqft

Nine-unit multifamily property in historic Woodruff Place, Indianapolis.

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Historic Woodruff Place Multifamily Investment

624 Woodruff Place Middle Dr, Indianapolis, IN 46201

$1,000,000

7,150 sqft

Nine-unit multifamily property in historic Woodruff Place, Indianapolis.

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Twelve-Unit Brick Multifamily Property

1635 Central Avenue, Indianapolis, IN 46202

$1,500,000

17,028 sqft

Three all-brick buildings with 12 leased two-bedroom units, individually metered electric, and coin laundry for residents.

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Six-Unit Brick Apartment Building

2101 North Pennsylvania Street, Indianapolis, IN 46202

$1,555,000

13,524 sqft

Fully occupied, all-brick property with common laundry and basement expansion potential.

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Mixed-Use Property with Retail Suites

1024-1032 Shelby Street, Indianapolis, IN 46203

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14,457 sqft

Eleven-unit asset combines six commercial suites with five apartments near coffee shops, restaurants, galleries, and entertainment venues.

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Gutted 6-Unit Multifamily Fixer

2605 Shelby Street, Indianapolis, IN 46203

$280,000

6,582 sqft

Six-unit property with two connected structures and framing underway, requiring full renovation to major systems and interior finishes.

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12-Unit Apartment Building

3825 N Whittier Pl, Indianapolis, IN 46226

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8,604 sqft

Updated interiors and individually metered electric simplify operations across the apartment units.

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Three-Building Multifamily Property

10705 E. US Highway 136, Indianapolis, IN 46234

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12,602 sqft

Windmill Apartments is a 33-unit multifamily property built in 1980 across three buildings.

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Two-Site Townhome Portfolio

412 E County Line Rd, Indianapolis, IN 46227

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98,190 sqft

Two-site, 66-unit townhome portfolio featuring attached garage units and in-unit washer/dryer connections.

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Nine-Story Apartment High-Rise

3470 N Meridian St, Indianapolis, IN 46208

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59,048 sqft 0.74 AC lot

Nine-story, brick high-rise apartment building with rooftop decks and 100 units, including studio and one-bedroom layouts.

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Mixed-Use Property with Retail and Apartments

1030 Shelby St, Indianapolis, IN 46203

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15,425 sqft

Fully occupied center combining storefront space with residential units in Fountain Square.

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Apartment Redevelopment Property

1505 South East Street, Indianapolis, IN 46203

$399,900

9,200 sqft

Corner-lot property with attached garages, dedicated parking, and C-1 zoning near Indianapolis employment and entertainment districts.

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Apartment Building

734 E McCarty Street, Indianapolis, IN 46203

$459,900

Apartment property in Indianapolis with D8 zoning.

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Townhome Portfolio with Attached Garages

5500 S Emerson Ave, Indianapolis, IN 46237

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66-unit two-site townhome portfolio with attached one- or two-car garages and in-unit laundry connections.

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Class A Townhome Apartment Community

6159 Winthrop Ave, Indianapolis, IN 46220

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Twenty-four modern rental residences offer private entries, spacious layouts, premium finishes, and private patios.

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Apartment Building with Value-Add

3720 N Pennsylvania St, Indianapolis, IN 46205

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This apartment building for sale features public-remarked value-add potential based on currently below-market rents.

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Garden-Style Apartment Complex

5915 E 12th St, Indianapolis, IN 46219

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Ten two-story garden-style residential buildings offer 22 one-bedroom and 60 two-bedroom units in pristine condition.

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Fully Renovated 33-Unit Apartment Building

6220 E 11th St, Indianapolis, IN 46219

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Renovated and re-tenanted 33-unit apartment building offered for sale near Irvington, Indianapolis.

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11-Unit Townhome Apartment Building

9475 Timber View Dr, Indianapolis, IN 46250

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Townhome-style multifamily property with private driveway access, landscaping, and snow and trash removal services.

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Four-Parcel Multifamily Development Sites

1315 Standish Ave, Indianapolis, IN 46227

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Four-parcel portfolio zoned D8 (Urban Mixed-Use Residential) for high-density residential development next to the University of Indianapolis.

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Indianapolis, IN Apartment Buildings Market Trends and Statistics

Explore 72 apartment buildings for sale in Indianapolis, IN, showcased through 27 active listings on our real estate platform. These investment opportunities span a total of 643,250 square feet of properties for sale, with an estimated market value of $10,224,800.

Sale prices for two-family homes in Indianapolis, IN start at $250,000, averaging $929,527, and reaching up to $1,555,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Demographics Overview

Population 979K

Population Growth (5Y) +2.8%

Median Household Income $67,417

College Educated 30.4%

High-Yield Neighborhoods for Investment

Identify Indianapolis submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
46203	$379.9K
46201	$887.5K
46219	$950K
46202	$1.3M

Taxes & Financing

Tax Rate (average for all types) 2.46%

Property Tax per SF $41.61 per SF

Tax Rate vs County Average 0.02 pp below county avg

Average Loan-to-Value 65.0%

Property Size Breakdown

The majority of commercial real estate listings in Indianapolis fall within the 100,000+ square foot range.

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Indianapolis, IN Apartment Buildings for Sale

2101 N Pennsylvania Street, Indianapolis, IN 46202

1635 Central Avenue, Indianapolis, IN 46202

1627 N Talbott Street, Indianapolis, IN 46202

5819 E Washington St, Indianapolis, IN 46219

609 Woodruff Place Middle Drive, Indianapolis, IN 46201

624 Woodruff Place Middle Dr, Indianapolis, IN 46201

1635 Central Avenue, Indianapolis, IN 46202

2101 North Pennsylvania Street, Indianapolis, IN 46202

1024-1032 Shelby Street, Indianapolis, IN 46203

2605 Shelby Street, Indianapolis, IN 46203

3825 N Whittier Pl, Indianapolis, IN 46226

10705 E. US Highway 136, Indianapolis, IN 46234

412 E County Line Rd, Indianapolis, IN 46227

3470 N Meridian St, Indianapolis, IN 46208