Fourplex with Unfinished
1721 Woodruff Place Cross Drive Indianapolis, IN 46201
New
1721 Woodruff Place Cross Drive, Indianapolis, IN, 46201
$899,000
For Sale
$899,000
MULTI_FAMILY - Ranch - Indianapolis, IN
Property Size3,600 SF
Lot Size0.37 Acres
Price / SF$249.72
Days on Market2
Property Features for 1721 Woodruff Place Cross Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Exterior features
- Storage Shed
- Standard status
- Active
- APN
- 491006168033000101
- Lot size
- 0.37 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- WOODRUFF PL L30
Utilities
- Cooling system
- Separate Meters
Building Details
- Year built
- 1950
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Brick
- Architectural style
- Ranch
- Additional Structures
- Storage
Listing agency
United Real Estate Indpls
(317) 216-8800
Listed by
Benjamin Claghorn · License #RB14045889
(317) 255-7285
Added: Jul 22 Checked: Jul 23 at 3:06AM
MLS# 22115720
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1721-1727 Woodruff Place Cross Drive is a fourplex configured as four units in a row. The main level of each unit offers approximately 900 square feet with two bedrooms and one full bath, plus an additional 900 square feet of unfinished basement space that may be used as additional living area. The units have been updated over the years, and the property includes outdoor space on the site.
According to the listing, there is currently no HOA or party wall agreement. The property is located in Indianapolis, Indiana (Marion County), on a 0.37-acre lot.
According to the listing, there is currently no HOA or party wall agreement. The property is located in Indianapolis, Indiana (Marion County), on a 0.37-acre lot.
Key Highlights
- 1950 ranch‑style brick 4‑plex with separate meters for cooling
- 4 units in a row; each unit is 2 bed / 1 full bath
- Each unit offers 900 SF on the main level plus an additional 900 SF unfinished basement
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.3k | $16.20 |
| − Vacancy | −$4.0k | −$1.12 |
| EGI | $54.3k | $15.08 |
| − OpEx | −$16.3k | −$4.52 |
| NOI | $38.0k | $10.55 |
3,600 SF · lease $16.20/SF/yr · vacancy 6.93% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$542.8K
$474.9K – $633.3K
NOI $37,995 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$472.0K
$413.0K – $550.6K
NOI $33,038 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$896.1K
$784.1K – $1.05M
NOI $62,726 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four units in a row, each with updated interiors and 900-sf basements for additional living space.
Where is this quadplex located?
The property is located at 1721 Woodruff Place Cross Drive Indianapolis, IN.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 1950 ranch‑style brick 4‑plex with separate meters for cooling; 4 units in a row; each unit is 2 bed / 1 full bath; Each unit offers 900 SF on the main level plus an additional 900 SF unfinished basement
