12-Unit Studio Apartment
For Sale
$1,125,000
2325 Shelby Street, Indianapolis, IN 46203
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 Market245
Property Features for 2325 Shelby Street
General Information
Standard status
Active
Size
9,720 SF
Total Parking Spaces
8
Property subtype
Commercial Sale / Multi-Family 5+
Additional Details
Business Included
Yes
Multifamily Units
12
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
My Agent
(317) 979-4663
Listed By:
Tammy Douthitt · License #RB21001916
(317) 979-4663
Source:
Compass
Added: Dec 2, 2025
Changed: Jul 21
Last Checked: Aug 3 at 1:06PM
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)
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 authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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)
