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Fletcher Place Multifamily Investment Opportunity

550 Fletcher Avenue, Indianapolis, IN 46203

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22-unit multifamily property in Indianapolis's Fletcher Place neighborhood.

Type:Multifamily

HighLights

Value‑add opportunity with potential for $400+ per unit rent increase.
Prime location in the desirable Fletcher Place neighborhood of Downtown Indianapolis.
Walking distance to major employment, entertainment, and lifestyle amenities including Lucas Oil Stadium.
Diverse unit mix featuring one, two, and three‑bedroom apartments.
Strong renter demand due to proximity to healthcare, logistics, and professional services.
Situated in a fast‑growing and landlord‑friendly metropolitan area.

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Listing Contact

Aaron Kuroiwa

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For Sale

Contact for pricing

22-unit multifamily property in Indianapolis's Fletcher Place neighborhood.

Type:Multifamily

Added:: Apr 3, 2026
Days on Market:: 67
Last Refresh:: Apr 3 at 4:54 am

Property Features for 550 Fletcher Avenue

General Information

Standard status: Active
Property subtype: Multifamily

We can help!

Listing Contact

Aaron Kuroiwa

Listing agent Aaron Kuroiwa License #IN: RB17000780

Listing office Indianapolis Office

Listing date Apr 3, 2026

Source Marcusmillichap

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 Indianapolis Office

HighLights

Value‑add opportunity with potential for $400+ per unit rent increase.
Prime location in the desirable Fletcher Place neighborhood of Downtown Indianapolis.
Walking distance to major employment, entertainment, and lifestyle amenities including Lucas Oil Stadium.
Diverse unit mix featuring one, two, and three‑bedroom apartments.
Strong renter demand due to proximity to healthcare, logistics, and professional services.
Situated in a fast‑growing and landlord‑friendly metropolitan area.

Overview

Briggs Flats is a 22-unit multifamily property situated in the Fletcher Place neighborhood of Downtown Indianapolis. Constructed in 1920, the asset comprises two buildings with a mix of one-, two-, and three-bedroom apartments, averaging approximately 711 square feet per unit. The property benefits from its location near the Central Business District, Lucas Oil Stadium, the Indiana Convention Center, and the Wholesale District, providing residents with convenient access to employment, entertainment, and lifestyle amenities. The property's proximity to downtown Indianapolis supports consistent renter demand driven by healthcare, logistics, professional services, and institutional employment. This offering presents investors with a value-add opportunity through the capture of in-place to market rent spreads. Current average rents trail market by approximately $400+ per unit, with comparable properties in the Fletcher Place submarket achieving materially higher rent levels. Through continued operational stabilization and interior improvements, ownership can drive NOI growth while maintaining exposure to one of the Midwest’s fastest-growing and most landlord-friendly metropolitan areas.

Location Intelligence

Current Use by Public Records

Briggs Flats Llc Apartments

Suggested Use

Location Insight

Map
Local Demand

City: Indianapolis
County: Hamilton
State: Indiana
Longitude: -86.1477316
Latitude: 39.7614528

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For sale
Apartment buildings
IN
Indianapolis
46203
550 Fletcher Avenue

What type of property is this?

Apartment building - 22-unit multifamily property in Indianapolis's Fletcher Place neighborhood.

Where is this apartment building located?

The property is located at 550 Fletcher Avenue Indianapolis, IN.

What are key features of this property?

This property features: Value‑add opportunity with potential for $400+ per unit rent increase.; Prime location in the desirable Fletcher Place neighborhood of Downtown Indianapolis.; Walking distance to major employment, entertainment, and lifestyle amenities including Lucas Oil Stadium.

550 Fletcher Avenue, Indianapolis, IN 46203

22-unit multifamily property in Indianapolis's Fletcher Place neighborhood.

Property Features for 550 Fletcher Avenue

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Flexible Office Building with Garage

Restaurant Ready Space on Keystone

Versatile Mixed-Use Property, Indianapolis

Indianapolis Mixed-Use Opportunity

Freestanding Office Building on Shadeland

Indianapolis Retail Corner Location

East 10th Street Redevelopment Opportunity

Fountain Square Redevelopment Opportunity

Professional Office Building Opportunity

Value-Add Commercial Opportunity in Indianapolis

Established Auto Shop For Sale

High-Visibility Commercial Site on Madison

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