2101 N Pennsylvania Street Indianapolis, IN 46202
Multi-Family 5+ - Indianapolis, IN
Property size:
13,524 SFLot size:
0.14 AcresPrice / SF:
$114/SF- Added:
- Oct 10, 2025
- Days on Market:
- 208
- Last Refresh:
- May 5 at 1:06 pm
Property Features for 2101 N Pennsylvania Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Apartments General
- Standard status
- Active
- APN
- 490636176184000101
- Size
- 13,524 SF
- Lot size
- 0.14 Acres
Building Details
- Number of units
- 6
- Architectural style
- Other
Listing agent Charlene Gaard License #RB14033327 (317) 440-2149
Listing office No Limit Real Estate, LLC E. Carmel Dr. Suite 500, Carmel, IN (317) 440-2149
Listing date Oct 10, 2025
MLS# 22067612
Listing URL
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.
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
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.155764
- Latitude
- 39.795105
Nearby Similar for Sale
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 Street 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.
