10-Unit SRO Apartment
For Sale
$795,000
3712 E Washington Street, Indianapolis, IN 46201
Two-level layout pairs private bathrooms with shared kitchens, living areas, and laundry facilities.
Property Size5,376 SF
Price / SF$147.88
Days on Market343
Property Features for 3712 E Washington Street
General Information
Standard status
Active
Size
5,376 SF
Property subtype
Commercial
Zoning
D8
Site & Location
Neighborhood
Christian Park
Additional Details
Multifamily Units
10
Amenities
shared kitchens
shared living rooms
laundry facilities
Building Details
Building Size
5,376 SF
Units
10
Listing Agency:
Kaiser Real Estate Corp.
(317) 843-8446
Listed By:
Joshua Hoeft · License #RB23002184
(317) 771-5494
Source:
Battsrealestategroup
Added: Nov 21, 2025
Changed: Oct 29
Last Checked: Oct 29 at 6:43PM
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 Kaiser Real Estate Corp.
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Investment Insights
Based on property information with market context.
This 10-unit single-room-occupancy apartment property contains 5 units on each of its two levels, totaling 5,376 square feet. Every unit has a private bathroom. Each level also includes shared kitchen, living, and laundry areas, providing common facilities alongside the private accommodations.
The property is zoned D8 and is located at 3712 E Washington Street in Indianapolis. The adjoining lots may be acquired separately alongside the building.
The property is zoned D8 and is located at 3712 E Washington Street in Indianapolis. The adjoining lots may be acquired separately alongside the building.
Key Highlights
- 10 SRO units across two levels, with 5 units on each floor
- 5,376 square feet of building area
- A private bathroom in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,337
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,740
$986.7K
Cap Rate 7%
$704,814
$704.8K
Cap Rate 9%
$548,189
$548.2K
Market Conditions
NOI Build-Up for 5,376 SF
Gross rent
$96.8K $18.00/SF
− Vacancy
−$7.1K −$1.31/SF
EGI
$89.7K $16.69/SF
− OpEx
−$40.4K −$7.51/SF
NOI
$49.3K $9.18/SF
Area
Indianapolis, IN
Vacancy
7.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,740
Cap Rate 7%
$704,814
Cap Rate 9%
$548,189
Alternative Uses
Best Use
Apartment 5plus
$704.8K
$616.7K – $822.3K
NOI $49,337 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,671 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
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Business Placement
Demographics for 46201, IN
31,408
Population
17,145
Households
1.8
Avg Household Size
34
Median Age
26%
College-Educated
78%
High-School Grad
5.6 sq mi
ZIP Area
5,609
Density / Sq Mi
$43,183
Median Household Income
$36,951
Median Earnings
$929
Median Rent
$150,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-level layout pairs private bathrooms with shared kitchens, living areas, and laundry facilities.
Where is this apartment building located?
The property is located at 3712 E Washington Street Indianapolis, IN.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 10 SRO units across two levels, with 5 units on each floor; 5,376 square feet of building area; A private bathroom in every unit
