Twelve-Unit Brick Multifamily
1635 Central Ave Indianapolis, IN 46202
For Sale
Contact for pricing
Three all-brick buildings with 12 leased two-bedroom units, individually metered electric, and coin laundry for residents.
Property Size17,028 SF
Price / SF$88.09
Days on Market56
Property Features for 1635 Central Ave
General Information
- Standard status
- Active
- Size
- 17,028 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing Agency:
Keller Williams Indy Metro South
Listed By:
Emily Huskey · License #RB17000722
Source:
Crexi
Added: May 30
Changed: Jul 10
Last Checked: Jul 23 at 3:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Indy Metro South
Investment Insights
Based on property information with market context.
This 12-unit multifamily property consists of three all-brick buildings with four units in each structure. The units are configured as two bedrooms and one bathroom, with central air and individual furnaces and water heaters. Each home includes a refrigerator and oven, and residents have access to additional storage in the basements of the buildings. Coin operated laundry is provided, and water heaters are located in the basements. Tenants share one large trash dumpster in the alley.
The property is located at the intersection of the Herron Morton and Old Northside neighborhoods on Central Ave in Indianapolis. Each unit is individually metered for electric, and the building does not include gas service. Over the past several years, the property has maintained approximately 95% occupancy. One unit is recently vacant and available for showings, while other units can be accessed upon an accepted offer.
Rent roll details are available upon request, and current lease rates range from $895 to $995 per month with renewals set to $995. Residents pay their own electric, plus $50 per month for utilities, and pets pay an additional $25 per month. The owner pays water, sewer, and common area electric, and the current management company is willing to continue management. The property is positioned for experienced landlords seeking stable, income-producing operations.
The property is located at the intersection of the Herron Morton and Old Northside neighborhoods on Central Ave in Indianapolis. Each unit is individually metered for electric, and the building does not include gas service. Over the past several years, the property has maintained approximately 95% occupancy. One unit is recently vacant and available for showings, while other units can be accessed upon an accepted offer.
Rent roll details are available upon request, and current lease rates range from $895 to $995 per month with renewals set to $995. Residents pay their own electric, plus $50 per month for utilities, and pets pay an additional $25 per month. The owner pays water, sewer, and common area electric, and the current management company is willing to continue management. The property is positioned for experienced landlords seeking stable, income-producing operations.
Key Highlights
- 12‑unit multifamily with three all‑brick buildings (4 units per building), built in 1930
- All 12 units are 2 bed / 1 bath, with individual electric meters and residents paying electric
- Each unit includes its own furnace, central air, and water heater; no gas
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Three all-brick buildings with 12 leased two-bedroom units, individually metered electric, and coin laundry for residents.
Where is this apartment building located?
The property is located at 1635 Central Ave Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 12‑unit multifamily with three all‑brick buildings (4 units per building), built in 1930; All 12 units are 2 bed / 1 bath, with individual electric meters and residents paying electric; Each unit includes its own furnace, central air, and water heater; no gas
