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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

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    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.
    (317) 440-2149
    Request Owner's contact information
    2101 N Pennsylvania St Indianapolis, IN 46202
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    Indianapolis, IN 46202
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2101 N Pennsylvania St Indianapolis, IN 46202
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