Indianapolis, IN Apartment Buildings for Sale

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Updated: Dec 16, 2025

Historic Woodruff Place Multifamily Investment

725 Woodruff Place Middle Drive, Indianapolis, IN 46201

$750,000

7,162 sqft

Immediate income and stable cash flow from 7 currently leased units.
Rare opportunity to invest in Indianapolis' desirable historic Woodruff Place.
Value‑add potential with recent improvements: new sewer, new roof, 3 renovated units, remodeled bathroom, new water heater.
Opportunity to purchase individually or as part of a larger portfolio of 4 additional nearby buildings.
Prime location minutes from downtown Indianapolis with strong rental demand.

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This listing looks promising.

Here's a quick look at some key insights for

725 Woodruff Place Middle Drive, Indianapolis, IN 46201

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Est. Cap Rate

8.8%
Above avg (5.9%)
Est. NOI

$66K
Annual
Price @ 7% Cap

$939K
Above asking
Property Type

Row House
Built 1910

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Updated: Apr 10

Multifamily Apartment Building with Parking

1627 N Talbott Street, Indianapolis, IN 46202

$250,000

0.19 AC lot

Year built: 1867
Located within the Herron‑Morton Place Historic District
Multifamily property with a surface parking lot
Distressed condition and will require a full renovation; limited property information—buyer to conduct due diligence

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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 Dr, 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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Mixed-Use Investment Building

536 E MARKET ST, Indianapolis, IN 46202

$3,900,000

20,952 sqft

Well-maintained mixed-use property with elevator, dry sprinkler system, LED lighting, and parking, zoned CBD-2 for retail, office, or multifamily.

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Twelve-Unit Brick Multifamily Property

1635 Central Ave, 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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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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Fletcher Place Multifamily Investment Opportunity

550 Fletcher Avenue, Indianapolis, IN 46203

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22-unit multifamily property in Indianapolis's Fletcher Place neighborhood.

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20-Unit Portfolio Near UIndy Campus

Multiple Addresses in Larger Portfolio, Indianapolis, IN

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20,585 sqft

20-unit portfolio with 47 bedrooms near University of Indianapolis.

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Based on your search, we've compiled 80 Potential Opportunities for your consideration. Besides 10 Active listings in Indianapolis, IN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 62 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Fourplex with Rear 3BR Unit

714 W Cross Street, Anderson, IN 46011

$375,000

0.41 AC lot

Fully occupied five-unit rental setup with four 2-bedroom units plus a separate 3-bedroom, 2-bath rear unit.

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All-Brick Two-Story 8-Unit Apartment

1120 E 30th Street, Anderson, IN 46016

$339,000

7,344 sqft

Value-add 8-unit building with all-brick construction, street-to-street lot, and separately metered electricity and gas.

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Five-Unit Mixed-Use Building

28 N Washington Street, Knightstown, IN 47362

$325,000

7,872 sqft 0.10 AC lot

Five-unit property with fully renovated residential units and updated bathrooms, with utilities separately metered for tenants.

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Five-Unit Mixed-Use Building

28 N Washington Street, Knightstown, IN 46148

$325,000

0.10 AC lot

Updated five-unit building with individually metered gas and electric, plus owner-paid water.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Asheville Development Opportunity: 5.94 Acres

215 N Bear Creek Road, Asheville, NC 28806

$2,500,000

5.94 AC lot

5.94-acre parcel zoned RM6, ideal for multi-family development.

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Greenville Development Opportunity: 1.33 Acres

71 Salters Road, Greenville, SC 29607

$699,900

1.33 AC lot

1.33 acre parcel suitable for multi-family development near downtown.

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Prime Development Land, Springfield MO

N West Bypass, Springfield, MO 65802

$2,850,000

29.20 AC lot

29.2 acres of retail-zoned land for mixed-use development.

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Land Near Shepherd University

8285 MARTINSBURG Pike, Shepherdstown, WV 25443

$650,000

3.70 AC lot

Prime land near Shepherd University with development potential.

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Off-Market Properties in Indianapolis, IN

Consider similar Off-Market properties in Indianapolis, IN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.