Townhome Portfolio with Attached
5500 S Emerson Ave Indianapolis, IN 46237
5500 S Emerson Ave, Indianapolis, IN, 46237
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For Sale
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66-unit two-site townhome portfolio with attached one- or two-car garages and in-unit laundry connections.
Days on Market36
Property Features for 5500 S Emerson Ave
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agency
Indianapolis Office
(317) 218-5330
Listed by
Aaron Kuroiwa · License #License(s): IN: RB17000780
(317) 218-5330
Source
Marcusmillichap
Added: Jun 17 Updated: Jul 10 at 2:01PM Checked: Jul 22 at 2:09AM
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Investment Insights
Based on property information with market context.
Coventry Park and Mansfield Village Townhomes offer a 66-unit, two-site residential income portfolio on Indianapolis’ south side. Coventry Park (30 units) was constructed in 2008, and Mansfield Village (36 units, individually parceled) was constructed in 2004. The property features a nearly 50/50 mix of large 2- and 3-bedroom townhomes, each with a spacious layout and attached one- or two-car garages. Unit interiors include vaulted living room ceilings, full-size washer/dryer connections, walk-in closets, pantries, private patios, and private driveways.
Each site is located roughly 15 minutes from the other and provides connectivity via I-65 and I-465 for access to downtown Indianapolis, Greenwood, and the broader metro. The surrounding employment base includes major logistics and distribution operators such as Amazon, FedEx, UPS, and DHL along the I-65 corridor, along with corporate and healthcare employers including Eli Lilly and Company, IU Health, and Salesforce in downtown Indianapolis.
Renovations are already underway across the portfolio, with approximately 51% of units updated (34 units). The seller notes an average $200/month premium across unit types among renovated homes, and highlights an opportunity to complete renovations on the remaining 32 units to align with those improved results.
Each site is located roughly 15 minutes from the other and provides connectivity via I-65 and I-465 for access to downtown Indianapolis, Greenwood, and the broader metro. The surrounding employment base includes major logistics and distribution operators such as Amazon, FedEx, UPS, and DHL along the I-65 corridor, along with corporate and healthcare employers including Eli Lilly and Company, IU Health, and Salesforce in downtown Indianapolis.
Renovations are already underway across the portfolio, with approximately 51% of units updated (34 units). The seller notes an average $200/month premium across unit types among renovated homes, and highlights an opportunity to complete renovations on the remaining 32 units to align with those improved results.
Key Highlights
- Two‑site, 66‑unit Indianapolis south side townhome portfolio with attached one- or two‑car garages per unit
- Coventry Park (30 units) built in 2008 and Mansfield Village (36 individually parceled units) built in 2004
- Nearly 50/50 mix of large 2- and 3‑bedroom townhomes with spacious floor plans (1,335 SF 2BR; 1,650 SF 3BR)
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Coventry Park Village
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 66-unit two-site townhome portfolio with attached one- or two-car garages and in-unit laundry connections.
Where is this apartment building located?
The property is located at 5500 S Emerson Ave Indianapolis, IN.
What are key features of this property?
This property features: Two‑site, 66‑unit Indianapolis south side townhome portfolio with attached one- or two‑car garages per unit; Coventry Park (30 units) built in 2008 and Mansfield Village (36 individually parceled units) built in 2004; Nearly 50/50 mix of large 2- and 3‑bedroom townhomes with spacious floor plans (1,335 SF 2BR; 1,650 SF 3BR)
