5-Unit Apartment
For Sale
$299,999
617 W Franklin Street, Shelbyville, IN 46176
Residential Income, Shelbyville, IN
Property SizeContact for details
Lot Size0.19 Acres
Days on Market291
Property Features for 617 W Franklin Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
COMMERCIAL APTS
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Basement
Subdivision
L M & M Franklin
Elementary school
Thomas A Hendricks Elementary Sch
Middle school
Shelbyville Middle School
High school
Shelbyville Sr High School
Elementary school district
Shelbyville Central Schools
Middle school district
Shelbyville Central Schools
High school district
Shelbyville Central Schools
Directions
From the Circle, head West on Washington until Prospect, turn right onto Prospect, then left onto W Franklin
Standard status
Active
APN
731106100207000002
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
L M & M Franklin Lt15 617 W Franklin St (Apts)
Tax Annual Amount
3644
Legal Description
L M & M Franklin Lt15 617 W Franklin St (Apts)
Building Details
Year built
1876
Floors in Building
2
Number of units
5
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
Mackenzie Allen, Polston & Ass
(317) 372-9784
Listed By:
Justin Polston
(317) 364-1106
Added: Jan 6
Changed: Oct 20
Last Checked: Oct 24 at 12:06PM
MLS# 22078666
Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This Colonial apartment property contains five units: four one-bedroom apartments and one studio. Built in 1876, the building has vinyl siding and sits on a 0.19-acre parcel. The property is zoned COMMERCIAL APTS. Rehabilitations and infrastructure work have been completed over the past several years.
Positioned at an alley corner, the property offers tenant parking access. The owner pays utilities, with tenants reimbursing those costs. The five-unit configuration combines a mix of apartment layouts within a single residential income property.
Positioned at an alley corner, the property offers tenant parking access. The owner pays utilities, with tenants reimbursing those costs. The five-unit configuration combines a mix of apartment layouts within a single residential income property.
Key Highlights
- Five apartments: four one‑bedroom units and one studio
- 0.19‑acre parcel
- Built in 1876 with Colonial architectural style and vinyl siding
Property Analytics
Who owns this building?
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
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Business Placement
Demographics for 46176, IN
28,401
Population
12,724
Households
2.2
Avg Household Size
40
Median Age
19%
College-Educated
90%
High-School Grad
169.5 sq mi
ZIP Area
168
Density / Sq Mi
$66,045
Median Household Income
$40,330
Median Earnings
$962
Median Rent
$172,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes four one-bedroom apartments and a studio, with tenant utility reimbursements to the owner.
Where is this apartment building located?
The property is located at 617 W Franklin Street Shelbyville, IN.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Five apartments: four one‑bedroom units and one studio; 0.19‑acre parcel; Built in 1876 with Colonial architectural style and vinyl siding
