Fletcher Place Multifamily Investment
For Sale
Contact for pricing
550 Fletcher Ave, Indianapolis, IN 46203
22-unit multifamily property in Indianapolis's Fletcher Place neighborhood.
Property SizeContact for details
Days on Market124
Property Features for 550 Fletcher Ave
General Information
Standard status
Active
Property subtype
Multifamily
Listing Agency:
Indianapolis Office
(317) 218-5330
Listed By:
Aaron Kuroiwa · License #License(s): IN: RB17000780
(317) 218-5330
Source:
Marcusmillichap
Added: Apr 3
Changed: Jul 10
Last Checked: Aug 2 at 3:08AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 46203, IN
38,224
Population
18,057
Households
2.1
Avg Household Size
34
Median Age
26%
College-Educated
79%
High-School Grad
13.9 sq mi
ZIP Area
2,750
Density / Sq Mi
$55,375
Median Household Income
$40,620
Median Earnings
$1,022
Median Rent
$155,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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 Ave 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.
