Multifamily Land Opportunity, Indianapolis

2902 N Capitol Avenue Indianapolis, IN 46208

For Sale

$499,900

LAND - Indianapolis, IN

Lot size:

0.41 Acres

For Sale

$499,900

LAND - Indianapolis, IN

Lot size:

0.41 Acres

Added:: May 16, 2024
Days on Market:: 788
Last Refresh:: Jul 12 at 6:06 pm

Property Features for 2902 N Capitol Avenue

General Information

Property type: Land
Property subtype: Other
Zoning: D8
Standard status: Active
APN: 490626190076000101
Lot size: 0.41 Acres

Taxes and HOA fees

Tax Year: 2023
Tax Description: Burton & Campbells Park Pl L28

Listing agent Charlene Gaard License #RB14033327

Listing office No Limit Real Estate, LLC East Carmel Drive Suite F400 301, Carmel, IN

Listing date May 16, 2024

MLS# 21979922 Listing URL

Investment Insights

Based on property information with market context.

This 0.41-acre lot presents a shovel-ready multifamily opportunity on Indianapolis' North Side. Located at 3902 N Capitol Ave, the 18,000 sq ft lot is zoned D8 and fully approved for a 9-unit luxury condo project. The approved plans include eight 2-bed, 2-bath units, plus a 3-bed, 3-bath penthouse. The property is positioned as ideal for developers seeking a high-margin infill project with design and zoning hurdles already cleared. Utilities are available at the site, and construction estimates are ready for qualified buyers. The location provides easy access to downtown, Fall Creek, and major transit. It is walkable to Tarkington Park, Ivy Tech, and the Butler-Tarkington area. The approved plans are included in the price. Construction is not included.

Key Highlights

Shovel‑ready: Fully approved plans for a 9‑unit luxury condo project.
Zoned D8 for multifamily use on an 18,000 sq ft lot.
Includes plans for a premium 3‑bed, 3‑bath penthouse unit.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Residential land & home ...

Suggested Use

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For sale
Land
IN
Indianapolis
46208
2902 N Capitol Avenue

What type of property is this?

Land - Shovel-ready 0.41-acre lot with approved plans for 9 units.

Where is this land located?

The property is located at 2902 N Capitol Avenue Indianapolis, IN.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Shovel‑ready: **Fully approved plans for a 9‑unit luxury condo project.**; Zoned D8 for multifamily use on an 18,000 sq ft lot.; Includes plans for a **premium 3‑bed, 3‑bath penthouse unit.**

2902 N Capitol Avenue Indianapolis, IN 46208

LAND - Indianapolis, IN

Property Features for 2902 N Capitol Avenue

General Information

Taxes and HOA fees

Investment Insights

Key Highlights

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Office Building with Monument Sign

Restaurant/QSR With Drive-Thru Potential

Hard-Corner Retail/Office Building

Elevator-Served Mixed-Use Building

Flexible Office Building with Detached Garage

Renovated Office Flex Complex

Industrial Flex with Multiple Overhead Doors

Corner Two-Tenant Retail and Auto Site

Multi-Office Building with Private Parking

Two-Level Office Building with Conference Rooms

Auto Shop with Paint Booth

Four-Unit Retail Value-Add Property

FAQs