Indianapolis Multi-Family Investment
3712 E Washington Street, Indianapolis, IN 46201
Multi-Family 5+ - Indianapolis, IN
Property size:
5,376 SFLot size:
0.14 AcresPrice / SF:
$160/SF- Added:
- Nov 21, 2025
- Days on Market:
- 193
- Last Refresh:
- Jun 2 at 4:06 am
Property Features for 3712 E Washington Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Property condition
- New Construction
- Zoning
- D8
- Rooms
- Basement
- Basement Y/N
- 1
- Standard status
- Active
- APN
- 491005208026000101
- Size
- 5,376 SF
- Lot size
- 0.14 Acres
Building Details
- Number of units
- 10
- Architectural style
- Other
- BuilderName
- Landmark Development
Listing agent Joshua Hoeft License #RB23002184 (317) 771-5494
Listing office Kaiser Real Estate Corp. Old Meridian Street, Carmel, IN (317) 843-8446
Listing date Nov 21, 2025
MLS# 22073725
Listing URL
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Strong income potential from 10‑unit SRO property.
- Each unit has a private bathroom.
- Shared kitchens, living rooms, and laundry facilities on both levels.
- Opportunity to purchase adjoining lots for further development.
- Functional layout with five units on each level.
- New Construction.
Overview
This 10-unit Single Room Occupancy (SRO) property in Indianapolis, IN, presents a strong income potential. The 5,376 square feet building, situated on a 0.14-acre lot, is zoned D8. It features five units on the upper level and five on the lower level, each equipped with a private bathroom. Shared kitchens, living rooms, and laundry facilities are located on both sides, creating a balanced and functional layout for tenants. This property offers an excellent opportunity for an investor seeking steady cash flow. There is potential to continue developing on the adjoining lots which can be purchased alongside the building at a separate offering.
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 | $96.8k | $18.00 |
| − Vacancy | −$7.1k | −$1.31 |
| EGI | $89.7k | $16.69 |
| − OpEx | −$40.4k | −$7.51 |
| NOI | $49.3k | $9.18 |
5,376 SF · lease $18.00/SF/yr · vacancy 7.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$704.8K
$616.7K – $822.3K
NOI $49,337 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,671 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.103291
- Latitude
- 39.769323
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 10-unit SRO property with income potential in Indianapolis, IN.
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 $865,000.
What are key features of this property?
This property features: Strong income potential from 10‑unit SRO property.; Each unit has a **private bathroom**.; Shared kitchens, living rooms, and laundry facilities on both levels.
