10-Unit Apartment
3544 Carrollton Avenue Indianapolis, IN 46205
3544 Carrollton Avenue, Indianapolis, IN, 46205
$1,300,000
Pending
For Sale
$1,300,000
Pending
Ten-unit building with six three-bedroom and four two-bedroom apartments.
Property Size10,000 SF
Days on Market64
Property Features for 3544 Carrollton Avenue
General Information
- Standard status
- Pending
- Size
- 10,000 SF
- Property subtype
- Commercial Sale / Multi-Family 5+
Building Details
- Year Built
- 1917
Listing agency
F.C. Tucker Company
(317) 975-1523
Listed by
Chas Schaffernoth · License #RB21001081
(317) 975-1523
Source
Compass
Added: May 20 Updated: Jul 21 at 2:06AM Checked: Jul 21 at 6:57AM
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 F.C. Tucker Company
Investment Insights
Based on property information with market context.
This 10-unit apartment building at 3544 Carrollton Avenue in Indianapolis, IN offers a straightforward unit mix of six three-bedroom units and four two-bedroom units. The property is presented as a value-add opportunity, with pro forma stabilization projecting $22,000 in gross monthly income, including $2,600/month for the three-bedroom units and $1,900/month for the two-bedroom units.
The building is located in the historic Hasselman Place neighborhood, described as being just blocks from major transit corridors and cultural hotspots. The property is currently zoned D-5, which is noted as a planning consideration for a potential zoning variance.
The building is located in the historic Hasselman Place neighborhood, described as being just blocks from major transit corridors and cultural hotspots. The property is currently zoned D-5, which is noted as a planning consideration for a potential zoning variance.
Key Highlights
- 10‑unit apartment building with six 3‑bedroom units and four 2‑bedroom units
- Projected gross monthly income of $22,000 upon stabilization
- Stabilized pro‑forma: 3‑bedroom units projected at $2,600/month and 2‑bedroom units at $1,900/month
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 | $180.0k | $18.00 |
| − Vacancy | −$13.1k | −$1.31 |
| EGI | $166.9k | $16.69 |
| − OpEx | −$75.1k | −$7.51 |
| NOI | $91.8k | $9.18 |
10,000 SF · lease $18.00/SF/yr · vacancy 7.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,773 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,240 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Ten-unit building with six three-bedroom and four two-bedroom apartments.
Where is this apartment building located?
The property is located at 3544 Carrollton Avenue Indianapolis, IN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 10‑unit apartment building with six 3‑bedroom units and four 2‑bedroom units; Projected gross monthly income of $22,000 upon stabilization; Stabilized pro‑forma: 3‑bedroom units projected at $2,600/month and 2‑bedroom units at $1,900/month
