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2101 N Pennsylvania St Indianapolis, IN 46202

For Sale
$1,555,000

Multi-Family 5+ - Indianapolis, IN

Property size:
13,524 SF
Lot size:
0.14 Acres
Days on Market:
34
Last Refresh:
Dec 7 at 2:06 am

Property Features for 2101 N Pennsylvania St

General Information

Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Zoning
Apartments General
APN
490636176184000101
Size
13,524 SF
Lot size
0.14 Acres

Building Details

Number of units
6
Architectural style
Other

NO LIMIT Real Estate, LLC (317) 440-2149 [email protected]

Listing agent Charlene Gaard (317) 440-2149 License #RB14033327

Listing date Nov 4, 2025

MLS# 22067612 Listing URL

Copyright © 2025 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.


Overview

Indianapolis Multifamily Investment Opportunity

This six-unit, full-brick building offers a combination of size and stability. Each unit features a 3-bedroom, 1.5-bath floorplan with approximately 2,000 square feet. The property is currently 100% occupied, producing consistent income. Recent capital improvements ensure smooth operations and low maintenance. The property includes over 4,000 square feet of basement space, presenting the opportunity to add 3-4 additional units or finish the lower level for additional income streams. The property is located in the Herron-Morton neighborhood, near downtown, hospitals, IUPUI, and the 16th Street corridor. The structure's design and footprint also lend themselves to a condo conversion. The lot size is 0.14 acres and the property size is 13,524 square feet.
Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Indianapolis
County
Hamilton
State
Indiana
Longitude
-86.155764
Latitude
39.795105

FAQs

What type of property is this?
Apartment building - Six-unit building in Herron-Morton neighborhood with expansion potential.
Where is this apartment building located?
The property is located at 2101 N Pennsylvania St Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,555,000.
What are key features of this property?
This property features: - Strong Income Potential: Currently 100% occupied with a near 6% cap rate and $95,000 NOI, with potential to exceed $130,000 NOI and 7% cap rate with basement conversion.; - Significant Expansion Opportunity: Over 4,000 sq. ft. of basement space allows for the addition of 3-4 units or other income-generating uses.; - Prime Herron-Morton Location: Highly desirable area minutes from downtown, hospitals, IUPUI, and the 16th Street corridor.
More about this property
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