Six-Unit Property Near Garfield
2605 Shelby Street, Indianapolis, IN 46203
Multi-Family 5+ - Indianapolis, IN
Property size:
6,582 SFLot size:
0.22 AcresPrice / SF:
$43/SF- Added:
- Apr 2, 2026
- Days on Market:
- 52
- Last Refresh:
- May 23 at 1:06 am
Property Features for 2605 Shelby Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C1- Commercial
- Rooms
- Basement
- Basement Y/N
- 1
- Standard status
- Active
- APN
- 491019117189000101
- Size
- 6,582 SF
- Lot size
- 0.22 Acres
Building Details
- Year built
- 1930
- Number of units
- 6
- Building materials
- Block, Brick, Vinyl Siding
- Roof type
- Asphalt, Flat
- Architectural style
- Other
Listing agent Peter Stewart License #RB15000083 (317) 846-6300
Listing office Keller Williams Indpls Metro N N Meridian St Ste 200, Carmel, IN (317) 846-6300
Listing date Apr 2, 2026
MLS# 22092561
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.
HighLights
- Prime location directly across from Garfield Park in a rapidly revitalizing neighborhood, close to downtown and the Red Line.
- Significant value‑add opportunity to customize layouts and finishes for various rental strategies.
- Six‑unit property with a diverse unit mix (1BR, 2BR, and 3BR units) to cater to a range of tenants.
- Partially framed, down‑to‑the‑studs condition allows for complete customization and modernization of all systems.
- Contractor in place and scope of work available for a more turnkey renovation execution.
- Includes a large front concrete patio and rear parking area.
Overview
Located in the heart of Indianapolis' Garfield Park neighborhood, this six-unit property at 2605 Shelby St presents a development opportunity. Situated directly across from the park, the property is in a rapidly revitalizing area, minutes from downtown and steps from the Red Line. Local amenities such as Parkside Public House, Cafe Babette, Skosh Coffee House, and the Garfield Park Branch Library are within walking distance. The property, with a size of 6582 square feet and a lot size of 0.22 acres, has been fully gutted down to the studs and is partially framed, offering a value-add opportunity. The unit mix includes two 1BR/1BA units (approximately 500 sq ft each), three 2BR/1BA units (two approximately 500 sq ft and one approximately 1,000 sq ft), and one 3BR/2BA unit (approximately 1,150 sq ft). A full renovation is required, including all major systems (plumbing, electrical, HVAC), drywall, and complete interior finishes. The property consists of two connected structures: a two-story building with one unit per level, and a single-story concrete block/brick building housing the remaining units. Investors can tailor layouts and finishes to support long-, mid-, or short-term rental strategies. Additional features include a large front concrete patio and rear parking area off the alley. The property is zoned C1- Commercial.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.139345
- Latitude
- 39.730165
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Development opportunity in revitalizing Garfield Park neighborhood.
Where is this apartment building located?
The property is located at 2605 Shelby Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $287,500.
What are key features of this property?
This property features: Prime location directly across from Garfield Park in a rapidly revitalizing neighborhood, close to downtown and the Red Line.; Significant value‑add opportunity to customize layouts and finishes for various rental strategies.; Six‑unit property with a diverse unit mix (1BR, 2BR, and 3BR units) to cater to a range of tenants.
