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    19-21 Hendricks Pl Indianapolis, IN 46201

    Sponsored
    For Sale
    $425,000

    Eight-unit renovated income property. High cash flow potential.

    Property size:
    2,314 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional multi-family investment opportunity in Indianapolis, Indiana, presents a compelling chance to acquire a lucrative, cash-flowing property. Located at 19-21 Hendricks Place, this property encompasses a substantial 2,314 square feet on a 0.1-acre lot. The building comprises eight studio/efficiency units, meticulously renovated and ready for immediate occupancy or rental. Five units are located at 19 Hendricks Place, and three at 21 Hendricks Place. Each unit boasts a complete kitchen, bedroom, closet, and bathroom, ensuring comfortable living spaces for tenants. The property currently generates a substantial monthly rental income with the potential to reach $7,600. A significant advantage is the owner's responsibility for all utilities (gas, water, and electric), minimizing operational burdens for the new owner. Furthermore, the property features a large, currently unused attic space, presenting a remarkable opportunity for expansion and the potential creation of two additional rental units, significantly increasing the property's value and income stream. Parking is conveniently available both in the rear of the property and on the street. The property is zoned D8 and is subject to tenant rights. A 48-hour notice is required for all showings. The property boasts a strong 10.64% capitalization rate, making it an attractive investment with significant return potential.

    Property Features for 19-21 Hendricks Pl

    General Information

    Property type
    Residential income properties
    Square Feet
    2,314 SF
    Lot Size
    4,356 SF

    Building Details

    Year Built
    1890
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    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
    Indianapolis
    County
    Marion
    State
    Indiana
    Longitude
    -86.1263
    Latitude
    39.76816

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    FAQs

    What type of property is this?
    Residential income property - Eight-unit renovated income property. High cash flow potential.
    Where is this residential income property located?
    The property is located at 19-21 Hendricks Pl Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $425,000.
    (317) 705-2500
    Request Owner's contact information
    19-21 Hendricks Pl Indianapolis, IN 46201
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    Indianapolis, IN 46201
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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
    19-21 Hendricks Pl Indianapolis, IN 46201
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