Historic Woodruff Place Multifamily
For Sale
$750,000
725 Woodruff Place Middle Drive, Indianapolis, IN 46201
Seven-unit property in historic Woodruff Place, Indianapolis. Leased and renovated.
Property Size7,162 SF
Price / SF$104.72
Days on Market231
Property Features for 725 Woodruff Place Middle Drive
General Information
Standard status
Active
Size
7,162 SF
Property subtype
Commercial Sale / Multi-Family 5+
Building Details
Year Built
1910
Listing Agency:
F.C. Tucker Company
(317) 686-0612
Listed By:
Sarah Fishburn · License #RB19001567
(317) 686-0612
Source:
Compass
Added: Dec 16, 2025
Changed: Jul 10
Last Checked: Aug 3 at 12:24PM
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 F.C. Tucker Company
Investment Insights
Based on property information with market context.
This 7-unit multifamily property presents an investor opportunity in the historic Woodruff Place neighborhood. The property is currently fully leased, providing immediate income. Recent improvements include a new sewer, new roof, renovation of 3 units, remodel of 1 bathroom in a unit, and a new water heater. The property offers value-add potential. Located minutes from downtown Indianapolis, the property benefits from the neighborhood's charm and walkability. The building has a property size of 7162 square feet. This property is being offered for sale individually or as part of a portfolio opportunity that includes four additional nearby buildings, all in Woodruff. This allows investors the chance to acquire multiple assets within one of Indianapolis' most desirable historic neighborhoods.
Key Highlights
- Immediate income and stable cash flow from 7 currently leased units.
- Rare opportunity to invest in Indianapolis' desirable historic Woodruff Place.
- Value‑add potential with recent improvements: new sewer, new roof, 3 renovated units, remodeled bathroom, new water heater.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.9k | $18.00 |
| − Vacancy | −$9.4k | −$1.31 |
| EGI | $119.5k | $16.69 |
| − OpEx | −$53.8k | −$7.51 |
| NOI | $65.7k | $9.18 |
7,162 SF · lease $18.00/SF/yr · vacancy 7.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$939.0K
$821.6K – $1.10M
NOI $65,728 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,791 @ 7.0% cap · market cap 16.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 46201, IN
31,408
Population
17,145
Households
1.8
Avg Household Size
34
Median Age
26%
College-Educated
78%
High-School Grad
5.6 sq mi
ZIP Area
5,609
Density / Sq Mi
$43,183
Median Household Income
$36,951
Median Earnings
$929
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit property in historic Woodruff Place, Indianapolis. Leased and renovated.
Where is this apartment building located?
The property is located at 725 Woodruff Place Middle Drive Indianapolis, IN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Immediate income and stable cash flow from 7 currently leased units.; Rare opportunity to invest in Indianapolis' desirable historic Woodruff Place.; Value‑add potential with recent improvements: new sewer, new roof, 3 renovated units, remodeled bathroom, new water heater.
