12-Unit Studio Apartment
2325 Shelby Street Indianapolis, IN 46203
2325 Shelby Street, Indianapolis, IN, 46203
$1,125,000
For Sale
$1,125,000
12 studio units with month-to-month leases and on-site paved parking for eight vehicles.
Property Size9,720 SF
Price / SF$115.74
Days on Market232
Property Features for 2325 Shelby Street
General Information
- Standard status
- Active
- Size
- 9,720 SF
- Property subtype
- Commercial Sale / Multi-Family 5+
Building Details
- Year Built
- 1940
Listing agency
My Agent
(317) 979-4663
Listed by
Tammy Douthitt · License #RB21001916
(317) 979-4663
Source
Compass
Added: Dec 2, 2025 Updated: Jul 21 at 8:00AM Checked: Jul 21 at 8:00AM
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 My Agent
Investment Insights
Based on property information with market context.
This offering includes a 12-unit studio apartment building with tenants on month-to-month leases. The rent structure includes water and heat.
Adjacent to the building is a paved parking lot that accommodates up to eight vehicles, with additional street parking available.
The owner is selling two parcels together and requests that the listings not be separated (Listing ID’s #22078931 and #22078961).
Adjacent to the building is a paved parking lot that accommodates up to eight vehicles, with additional street parking available.
The owner is selling two parcels together and requests that the listings not be separated (Listing ID’s #22078931 and #22078961).
Key Highlights
- 12 studio apartment units with month‑to‑month leases
- Rent includes water and heat for tenants
- Owner selling two parcels together (Listing ID #22078931 and #22078961)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $175.0k | $18.00 |
| − Vacancy | −$12.8k | −$1.31 |
| EGI | $162.2k | $16.69 |
| − OpEx | −$73.0k | −$7.51 |
| NOI | $89.2k | $9.18 |
9,720 SF · lease $18.00/SF/yr · vacancy 7.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.12M – $1.49M
NOI $89,203 @ 7.0% cap · market cap 7.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,361 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 12 studio units with month-to-month leases and on-site paved parking for eight vehicles.
Where is this apartment building located?
The property is located at 2325 Shelby Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 12 studio apartment units with month‑to‑month leases; Rent includes water and heat for tenants; Owner selling two parcels together (Listing ID #22078931 and #22078961)
