12-Unit Brick Apartment
For Sale
$1,500,000
Pending
1635 Central Avenue, Indianapolis, IN 46202
Commercial Sale, Indianapolis, IN
Property SizeContact for details
Lot Size0.36 Acres
Days on Market100
Property Features for 1635 Central Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
zo01
Rooms
Basement
Lot features
Access, Busline, Curbs, Sidewalks
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Subdivision
4910 - Marion - Center
Standard status
Pending
APN
490636145012000101
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Ritters Sub Johnson Heirs Add 68.6Ft Nl 68Ft Sl Of74.3Ft S End L2 (Bldg C)
Legal Description
Ritters Sub Johnson Heirs Add 68.6Ft Nl 68Ft Sl Of74.3Ft S End L2 (Bldg C)
Amenities
coin operated laundry
storage in basements
Building Details
Year built
1930
Number of units
12
Building materials
Brick
Listing Agency:
Keller Williams Indy Metro Partners · Keller Williams Realty
(317) 271-5959
Listed By:
Emily Huskey · License #RB17000722
(317) 271-5959
Added: May 23
Changed: Aug 26
Last Checked: Aug 30 at 9:06AM
MLS# 22103331
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.
Investment Insights
Based on property information with market context.
This multifamily property contains 12 two-bedroom, one-bath apartments distributed across three all-brick buildings, with four units in each building. Built in 1930, the 0.36-acre property includes individually metered electric service, separate furnaces, central air, water heaters, refrigerators, and ovens for every unit. Basement areas provide coin-operated laundry equipment and additional storage.
The property is positioned at Central Avenue in Indianapolis, near the Herron Morton and Old Northside neighborhoods, and is located within a designated Opportunity Zone. Historical occupancy has been 95% over the past several years. One apartment is currently vacant for showings, while other units are available for access after an accepted offer. The three buildings occupy separate parcels and may be sold individually, although the seller prefers a sale of the entire property. The current management company is willing to continue managing the asset.
The property is positioned at Central Avenue in Indianapolis, near the Herron Morton and Old Northside neighborhoods, and is located within a designated Opportunity Zone. Historical occupancy has been 95% over the past several years. One apartment is currently vacant for showings, while other units are available for access after an accepted offer. The three buildings occupy separate parcels and may be sold individually, although the seller prefers a sale of the entire property. The current management company is willing to continue managing the asset.
Key Highlights
- 12 apartments in three all‑brick buildings, with 4 units per building
- Each apartment offers 2 bedrooms and 1 bath
- 0.36‑acre property built in 1930
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
95%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,367
Businesses Nearby
Explore this area
Business Placement
Demographics for 46202, IN
22,217
Population
12,297
Households
1.8
Avg Household Size
29
Median Age
62%
College-Educated
91%
High-School Grad
5.5 sq mi
ZIP Area
4,039
Density / Sq Mi
$61,082
Median Household Income
$40,499
Median Earnings
$1,258
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily property with individually metered apartments and on-site laundry facilities.
Where is this apartment building located?
The property is located at 1635 Central Avenue 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 apartments in three all‑brick buildings, with 4 units per building; Each apartment offers 2 bedrooms and 1 bath; 0.36‑acre property built in 1930
