34-Unit Apartment
New
For Sale
$2,630,000
7155 East 21st St, Indianapolis, IN 46219
Three brick buildings offer an all-two-bedroom unit mix, with HVAC systems and electrical upgrades among the property improvements.
Property SizeContact for details
Lot Size1.55 Acres
Days on Market5
Property Features for 7155 East 21st St
General Information
Standard status
Active
Lot size
1.55 Acres
Property subtype
Multifamily
Occupancy
95%
Site & Location
Neighborhood
East Gate
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
34 x 2BR
Multifamily Units
34
Additional Details
Tenant in Place
Yes
Amenities
Clear Rent Upside: In-Place Rents Average $923 Against a High of $1,015 Potential, a Direct Path to Higher Income Through Renewals and Turns.
Attractive Entry Basis: Offered at $77,647 per Unit, a 7.59 Percent Cap Rate on Current Income and 8.86 Percent on T12 Income.
New HVAC, Water Heaters and Electrical Service, Updated Bathrooms, Plus Recent Masonry, Gutter and Asphalt Work.
Growing Indianapolis Rents: Metro Rents Rose 3.3 Percent Over the Past Year, Ahead of the 2.5 Percent National Pace, per Zillow.
Building Details
Year Built
1962
Buildings
3
Construction
all-brick
Listing Agency:
Indianapolis Office
Listed By:
Aaron Kuroiwa · License #License(s): IN: RB17000780
(317) 218-5330
Source:
Marcusmillichap
Added: Oct 30
Last Checked: Nov 3 at 3:06AM
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
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Investment Insights
Based on property information with market context.
Built in 1962, this 34-unit apartment community occupies 1.55 acres across three brick buildings. Each apartment is a 1,000-square-foot, two-bedroom unit. Property improvements include HVAC systems, electrical service to each building, bathroom updates, lintel work, and tuckpointing. Occupancy is 97 percent.
The property is on East 21st Street in Indianapolis, just off Shadeland Avenue and near I-70. Downtown Indianapolis, Community Hospital East, and the Finish Line headquarters are accessible from the area. Grocery stores, big-box retail, and dining options are located along the Shadeland corridor.
The property is on East 21st Street in Indianapolis, just off Shadeland Avenue and near I-70. Downtown Indianapolis, Community Hospital East, and the Finish Line headquarters are accessible from the area. Grocery stores, big-box retail, and dining options are located along the Shadeland corridor.
Key Highlights
- 34 two‑bedroom apartments, each measuring 1,000 square feet
- Three brick buildings on 1.55 acres; built in 1962
- 97 percent occupied
Property Analytics
Who owns this building?
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Lease Details
34
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
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Business Placement
Demographics for 46219, IN
36,556
Population
17,028
Households
2.1
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
13.0 sq mi
ZIP Area
2,812
Density / Sq Mi
$57,811
Median Household Income
$38,995
Median Earnings
$991
Median Rent
$177,000
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 - Three brick buildings offer an all-two-bedroom unit mix, with HVAC systems and electrical upgrades among the property improvements.
Where is this apartment building located?
The property is located at 7155 East 21st St Indianapolis, IN.
What is the asking price?
The asking price for this property is $2,630,000.
What are key features of this property?
This property features: 34 two‑bedroom apartments, each measuring 1,000 square feet; Three brick buildings on 1.55 acres; built in 1962; 97 percent occupied
