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    617 W Franklin St Shelbyville, IN 46176

    Sponsored
    For Sale
    $324,900

    Colonial,Traditional, Quadruplex - Shelbyville, IN

    Type:Quadruplex
    Lot size:
    0.19 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 10 at 1:06 pm

    Property Features for 617 W Franklin St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Standard status
    Active
    Zoning
    COMMERCIAL APTS
    Rooms
    Basement
    APN
    731106100207000002
    Basement Y/N
    1
    Lot size
    0.19 Acres

    Building Details

    Year built
    1876
    Number of units
    5
    Building materials
    Vinyl Siding
    Architectural style
    Colonial

    Mackenzie Allen, Polston & Associates (317) 364-1106 [email protected]

    Listing agent Justin Polston (317) 372-9784 License #RB14043542

    Listing date Jan 6, 2026

    MLS# 22078666 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

    Shelbyville Investment Property: Five Units

    Located in the booming Shelbyville community, this five-unit property presents an investment opportunity in the historic West Side. The property features architectural details and is situated on a corner lot with alley access, providing convenient parking for tenants. The unit mix comprises four one-bedroom apartments and one studio apartment. The landlord covers all utilities, with tenants reimbursing for these costs. The property generates almost $50,000 in annual rental revenue. The property is zoned for commercial apartments.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelbyville
    County
    Shelby
    State
    Indiana
    Longitude
    -85.789328
    Latitude
    39.523599

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    FAQs

    What type of property is this?
    Apartment building - Five-unit investment property in Shelbyville's historic West Side neighborhood.
    Where is this apartment building located?
    The property is located at 617 W Franklin St Shelbyville, IN.
    What is the asking price?
    The asking price for this property is $324,900.
    What are key features of this property?
    This property features: - High income potential: Generates almost $50,000 in annual rent revenues.; - Multi-unit investment: Features five units (four 1-bedroom and one studio) in one property.; - Infrastructural improvements have already been completed.
    (317) 372-9784
    Request Owner's contact information
    617 W Franklin St Shelbyville, IN 46176
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    Shelbyville, IN 46176
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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
    617 W Franklin St Shelbyville, IN 46176
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