19-21 Hendricks Pl Indianapolis, IN 46201
- Multifamily properties
- 2,314 SF
- 0.10 lot acres
Current Use by Public Records
- Multifamily properties
Property Details for 19-21 Hendricks Pl
- Year built
- 1890
- Lot size
- 0.10 lot acres
- Property size
- 2,314 SF
- Property type
- Multifamily properties
Description
This exceptional multi-family investment opportunity in Indianapolis, Indiana, presents a compelling chance to acquire a lucrative, cash-flowing property. Located at 19-21 Hendricks Place, this property encompasses a substantial 2,314 square feet on a 0.1-acre lot. The building comprises eight studio/efficiency units, meticulously renovated and ready for immediate occupancy or rental. Five units are located at 19 Hendricks Place, and three at 21 Hendricks Place. Each unit boasts a complete kitchen, bedroom, closet, and bathroom, ensuring comfortable living spaces for tenants. The property currently generates a substantial monthly rental income with the potential to reach $7,600. A significant advantage is the owner's responsibility for all utilities (gas, water, and electric), minimizing operational burdens for the new owner. Furthermore, the property features a large, currently unused attic space, presenting a remarkable opportunity for expansion and the potential creation of two additional rental units, significantly increasing the property's value and income stream. Parking is conveniently available both in the rear of the property and on the street. The property is zoned D8 and is subject to tenant rights. A 48-hour notice is required for all showings. The property boasts a strong 10.64% capitalization rate, making it an attractive investment with significant return potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Marion
- State
- Indiana
- Longitude
- -86.1263
- Latitude
- 39.7682
