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    3614 E Washington St Indianapolis, IN 46201

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    For Sale
    $315,000

    Six-unit property with strong rents and cash flow potential.

    Lot size:
    0.28 Acres

    Property Features for 3614 E Washington St

    General Information

    Lot size
    0.28 Acres

    Building Details

    Year built
    1925

    Source: Hanza Realty Agent LLC

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Multifamily Investment Opportunity

    This is a six-unit multifamily property featuring studio-style units. The property is well-maintained and offers strong in-place rents with solid tenants. The current monthly gross rent is $4,207, totaling $50,484 annually. The owner is responsible for all utilities, including gas, electric, water, sewer, and trash. Average monthly expenses are $588, with annual expenses estimated at $7,056. The financials reflect a projected NOI of $43,428. The property features off-street parking and is located in a growth area, within walking distance to stores and public transportation. This cash-flowing asset offers upside potential.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Indianapolis
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.104257
    Latitude
    39.769475

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    FAQs

    What type of property is this?
    Apartment building - Six-unit property with strong rents and cash flow potential.
    Where is this apartment building located?
    The property is located at 3614 E Washington St Indianapolis, IN.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: - High 12.77% Cap Rate at $340,000 Price Point; - Projected 30.37% Cash-on-Cash Return with 20% Down; - Turnkey 6-Unit Multifamily Property with Strong In-Place Rents
    Request Owner's contact information
    3614 E Washington St Indianapolis, IN 46201
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    Indianapolis, IN 46201
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3614 E Washington St Indianapolis, IN 46201
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