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Leased Quadplex with Updated Furnaces

939 N Sherman Drive, Indianapolis, IN 46201

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For Sale

$199,000

MULTI_FAMILY - Other - Indianapolis, IN

Lot size:

0.12 Acres

HighLights

Quad plex with current leases totaling $950/month per unit
Month‑to‑month leases; each tenant has been in place for over a year
Newer furnaces installed in 2021
LVP flooring throughout
Each unit side has its own utilities
Basement includes washer and dryer (tenant‑owned); property sold AS IS

We can help!

Listing Contact

Kristin Tomyn

For Sale

$199,000

MULTI_FAMILY - Other - Indianapolis, IN

Lot size:

0.12 Acres

Added:: Apr 20, 2026
Days on Market:: 56
Last Refresh:: Jun 14 at 2:06 am

Property Features for 939 N Sherman Drive

General Information

Property type: Residential Multi Family
Property subtype: Other
Rooms: Basement
Parking features: Alley
Basement: Unfinished
Standard status: Active
APN: 491004141082000101
Lot size: 0.12 Acres

Taxes and HOA fees

Tax Year: 2024
Tax Description: Shannon Park L34

Utilities

Heating system: Forced Air
Cooling system: Wall Unit(s)

Building Details

Year built: 1920
Floors in Building: 2
Number of units: 4
Building materials: Vinyl Siding
Architectural style: Other

We can help!

Listing Contact

Kristin Tomyn

Listing agent Kristin Tomyn License #RB14048731

Listing office United Real Estate Indpls E 86th St Ste 200 1425, Indianapolis, IN

Listing date Apr 20, 2026

MLS# 22095620 Listing URL

HighLights

Quad plex with current leases totaling $950/month per unit
Month‑to‑month leases; each tenant has been in place for over a year
Newer furnaces installed in 2021
LVP flooring throughout
Each unit side has its own utilities
Basement includes washer and dryer (tenant‑owned); property sold AS IS

Overview

This leased quadplex is configured as four separate units. The property has LVP flooring throughout, and the furnaces are described as newer from 2021. Each side has its own utilities. One unit (941) has a washer and dryer located in the basement, and the equipment is tenant-owned. The sale is being offered AS IS, with documentation provided via attachments including a T12 and a rent roll.

The quadplex is located at 939 N Sherman Drive in Indianapolis, Indiana. All units are currently leased on month-to-month terms, and the remarks state that each tenant has been in place for over a year.

For investors or owner-operators seeking an income-producing multifamily asset, the existing occupancy and unit-by-unit utility separation may support easier day-to-day management. With leases already in place and key mechanical and finishes noted as updated, the property may be a practical fit for buyers comfortable with an AS IS sale and relying on the provided rent documentation for underwriting.

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

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Local Demand

City: Indianapolis
County: Hamilton
State: Indiana
Longitude: -86.102172
Latitude: 39.780295

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For sale
Quadplexes
IN
Indianapolis
46201
939 N Sherman Drive

What type of property is this?

Quadplex - Four-unit quadplex with newer furnaces and each unit having separate utilities for straightforward tenant management.

Where is this quadplex located?

The property is located at 939 N Sherman Drive Indianapolis, IN.

What is the asking price?

The asking price for this property is $199,000.

What are key features of this property?

This property features: Quad plex with current leases totaling $950/month per unit; Month‑to‑month leases; each tenant has been in place for over a year; Newer furnaces installed in 2021

939 N Sherman Drive, Indianapolis, IN 46201

MULTI_FAMILY - Other - Indianapolis, IN

Property Features for 939 N Sherman Drive

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Restaurant/QSR With Drive-Thru Potential

Value-Add Commercial Opportunity in Indianapolis

Hard-Corner Retail/Office Building

Freestanding Office Building on Shadeland

Freestanding Office Building on Shadeland

Flexible Office Building with Detached Garage

Renovated Office Flex Complex

Heavy Industrial Dock-High Warehouse

Corner Two-Tenant Retail and Auto Site

Multi-Office Building with Private Parking

Auto Shop with Paint Booth

Keystone Avenue Redevelopment Opportunity

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