550 Fletcher Avenue Indianapolis, IN 46203
22-unit multifamily property in Indianapolis's Fletcher Place neighborhood.
Type:Multifamily
- Added:
- Apr 3, 2026
- Days on Market:
- 20
- Last Refresh:
- Apr 3 at 4:54 am
Property Features for 550 Fletcher Avenue
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agent Aaron Kuroiwa License #IN: RB17000780 (317) 218-5330
Listing office Indianapolis Office (317) 218-5330
Listing date Apr 3, 2026
Source Marcusmillichap
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Overview
Fletcher Place Multifamily Investment Opportunity
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
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.1477316
- Latitude
- 39.7614528
Nearby Similar for Sale
FAQs
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.
