Renovated 8-Unit Apartment
2442 N Illinois Street, Indianapolis, IN 46208
For Sale
$975,000
Seven apartments are leased, while the remaining unit can operate as an Airbnb.
Property Size2,880 SF
Price / SF$338.54
Days on Market81
Property Features for 2442 N Illinois Street
General Information
Standard status
Size
Property subtype
Zoning
Net Operating Income
Site & Location
Neighborhood
Additional Details
Cap Rate
Multifamily Units
Tenant in Place
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Units
Listing Agency:
@properties
(317) 489-3441
Listed By:
Kristin Glassburn
(317) 513-4251
Source:
Battsrealestategroup
Added: Aug 21
Changed: Nov 7
Last Checked: Nov 8 at 1:23PM
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 @properties
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Investment Insights
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This 2,880-square-foot apartment property contains eight units and was built in 1910. Renovations completed in 2021 covered plumbing, electrical systems, kitchens, bathrooms, and the roof. Seven units are leased, with the eighth used flexibly as an Airbnb; reported occupancy exceeds 90%. The property has a 6.61% cap rate based on trailing-twelve-month results.
At 2442 N Illinois Street in Indianapolis, the building is 1 mile from IU Health’s downtown hospital campus. Its zoning designation is D8.
At 2442 N Illinois Street in Indianapolis, the building is 1 mile from IU Health’s downtown hospital campus. Its zoning designation is D8.
Key Highlights
- Eight‑unit apartment building totaling 2,880 square feet
- 2021 work included plumbing, electrical, kitchens, bathrooms, and roofing
- Seven units leased; one unit used as an Airbnb
Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
722
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Business Placement
Demographics for 46208, IN
23,996
Population
11,619
Households
2.1
Avg Household Size
31
Median Age
40%
College-Educated
93%
High-School Grad
6.9 sq mi
ZIP Area
3,478
Density / Sq Mi
$55,435
Median Household Income
$34,125
Median Earnings
$1,075
Median Rent
$206,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Indianapolis, IN
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Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Seven apartments are leased, while the remaining unit can operate as an Airbnb.
Where is this apartment building located?
The property is located at 2442 N Illinois Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Eight‑unit apartment building totaling 2,880 square feet; 2021 work included plumbing, electrical, kitchens, bathrooms, and roofing; Seven units leased; one unit used as an Airbnb
