All-Brick Fourplex with 2BR
For Sale
$525,000
1635 Central Avenue, Indianapolis, IN 46202
MULTI_FAMILY - Indianapolis, IN
Lot Size0.12 Acres
Days on Market61
Property Features for 1635 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
ZO01
Rooms
Basement
Basement
Daylight, Storage Space, Unfinished
Subdivision
Ritters Sub Johnson
Lot features
Sidewalks, Street Lights, Mature Trees, Trees- Small ( Under 20 Ft)
Elementary school district
Indianapolis Public Schools
Middle school district
Indianapolis Public Schools
High school district
Indianapolis Public Schools
Directions
GPS Friendly
Standard status
Active
APN
490636145012000101
Lot size
0.12 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)
Utilities
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1930
Floors in Building
2
Number of units
4
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: Jun 1
Changed: Jul 28
Last Checked: Jul 31 at 4:06AM
MLS# 22105508
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 listing offers one all-brick four-unit building within a larger 12-unit complex. Each unit features a two-bedroom, one-bath layout with abundant natural light. Units are separately equipped with their own furnace, central air, and water heater, and include appliances such as a refrigerator and oven. Coin-operated laundry is available, with additional basement storage in each building, and the water heaters are located in the basements. Residents share a single large trash dumpster in the alley. Electric is individually metered for each unit, while there is no gas service.
The property is located at 1635 Central Avenue at the intersection of the Herron Morton and Old Northside neighborhoods and is in a designated Opportunity Zone. The building has its own parcel number and legal description. The owner currently covers water, sewer, and common area electric, while residents pay their own electric and an additional $50 per month for utilities; pet-eligible residents pay an extra $25 per month. The current property management company is willing to continue.
For investors or experienced landlords seeking a small-bay multifamily holding, this four-unit building provides a consistent unit mix of two-bedroom, one-bath apartments and a history of high occupancy, with 95% occupancy maintained over the past several years. One unit is currently recently vacant and available for showings, with access to the remaining units available after an accepted offer. Leases are in place at $895–$995 per month, and lease renewals will be at $995. Current rent roll, expenses, and utilities are available upon request. Zoning is ZO01.
The property is located at 1635 Central Avenue at the intersection of the Herron Morton and Old Northside neighborhoods and is in a designated Opportunity Zone. The building has its own parcel number and legal description. The owner currently covers water, sewer, and common area electric, while residents pay their own electric and an additional $50 per month for utilities; pet-eligible residents pay an extra $25 per month. The current property management company is willing to continue.
For investors or experienced landlords seeking a small-bay multifamily holding, this four-unit building provides a consistent unit mix of two-bedroom, one-bath apartments and a history of high occupancy, with 95% occupancy maintained over the past several years. One unit is currently recently vacant and available for showings, with access to the remaining units available after an accepted offer. Leases are in place at $895–$995 per month, and lease renewals will be at $995. Current rent roll, expenses, and utilities are available upon request. Zoning is ZO01.
Key Highlights
- 1930 brick apartment building with central air and forced‑air electric heat
- 4‑unit building; each unit has 2 bedrooms and 1 bathroom with lots of natural light
- Current rents are $895–$995 per month, with all leases renewing at $995
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
95%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
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?
Quadplex - One of three all-brick four-unit buildings with spacious two-bedroom layouts, individual electric metering, and on-site coin laundry.
Where is this quadplex located?
The property is located at 1635 Central Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1930 brick apartment building with central air and forced‑air electric heat; 4‑unit building; each unit has 2 bedrooms and 1 bathroom with lots of natural light; Current rents are $895–$995 per month, with all leases renewing at $995
