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Townhome Portfolio with Attached Garages

5500 S Emerson Ave, Indianapolis, IN 46237

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66-unit two-site townhome portfolio with attached one- or two-car garages and in-unit laundry connections.

Type:Multifamily

HighLights

Two‑site, 66‑unit Indianapolis south side townhome portfolio with attached one- or two‑car garages per unit
Coventry Park (30 units) built in 2008 and Mansfield Village (36 individually parceled units) built in 2004
Nearly 50/50 mix of large 2- and 3‑bedroom townhomes with spacious floor plans (1,335 SF 2BR; 1,650 SF 3BR)
Unit features include vaulted living room ceilings, full‑size washer/dryer connections, walk‑in closets, pantries, and private patios/private driveways
Approximately 51% of units renovated (34 units), creating opportunity to renovate remaining 32 units
Renovated units reflect an average $200/month premium across all unit types at the two locations

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Aaron Kuroiwa

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For Sale

Contact for pricing

66-unit two-site townhome portfolio with attached one- or two-car garages and in-unit laundry connections.

Type:Multifamily

Added:: Jun 17, 2026
Days on Market:: 11
Last Refresh:: Jun 20 at 8:25 am

Property Features for 5500 S Emerson Ave

General Information

Standard status: Active
Property subtype: Multifamily

We can help!

Contact an agent

Aaron Kuroiwa

Listing office Indianapolis Office

Listing date Jun 17, 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

Two‑site, 66‑unit Indianapolis south side townhome portfolio with attached one- or two‑car garages per unit
Coventry Park (30 units) built in 2008 and Mansfield Village (36 individually parceled units) built in 2004
Nearly 50/50 mix of large 2- and 3‑bedroom townhomes with spacious floor plans (1,335 SF 2BR; 1,650 SF 3BR)
Unit features include vaulted living room ceilings, full‑size washer/dryer connections, walk‑in closets, pantries, and private patios/private driveways
Approximately 51% of units renovated (34 units), creating opportunity to renovate remaining 32 units
Renovated units reflect an average $200/month premium across all unit types at the two locations

Overview

Coventry Park and Mansfield Village Townhomes offer a 66-unit, two-site residential income portfolio on Indianapolis’ south side. Coventry Park (30 units) was constructed in 2008, and Mansfield Village (36 units, individually parceled) was constructed in 2004. The property features a nearly 50/50 mix of large 2- and 3-bedroom townhomes, each with a spacious layout and attached one- or two-car garages. Unit interiors include vaulted living room ceilings, full-size washer/dryer connections, walk-in closets, pantries, private patios, and private driveways.

Each site is located roughly 15 minutes from the other and provides connectivity via I-65 and I-465 for access to downtown Indianapolis, Greenwood, and the broader metro. The surrounding employment base includes major logistics and distribution operators such as Amazon, FedEx, UPS, and DHL along the I-65 corridor, along with corporate and healthcare employers including Eli Lilly and Company, IU Health, and Salesforce in downtown Indianapolis.

Renovations are already underway across the portfolio, with approximately 51% of units updated (34 units). The seller notes an average $200/month premium across unit types among renovated homes, and highlights an opportunity to complete renovations on the remaining 32 units to align with those improved results.

Location Intelligence

Current Use by Public Records

Coventry Park Village Apartment Building

Suggested Use

Location Insight

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Local Demand

City: Indianapolis
County: Hamilton
State: Indiana
Longitude: -86.082606
Latitude: 39.686781

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For sale
Apartment buildings
IN
Indianapolis
46237
5500 S Emerson Ave

What type of property is this?

Apartment building - 66-unit two-site townhome portfolio with attached one- or two-car garages and in-unit laundry connections.

Where is this apartment building located?

The property is located at 5500 S Emerson Ave Indianapolis, IN.

What are key features of this property?

This property features: Two‑site, 66‑unit Indianapolis south side townhome portfolio with attached one- or two‑car garages per unit; Coventry Park (30 units) built in 2008 and Mansfield Village (36 individually parceled units) built in 2004; Nearly 50/50 mix of large 2- and 3‑bedroom townhomes with spacious floor plans (1,335 SF 2BR; 1,650 SF 3BR)