5128 Washington St Indianapolis, IN 46219

This exceptional 16-unit apartment building, located at 5128/5140 E Washington St in Indianapolis, Indiana's historic Irvington neighborhood, presents a compelling value-add investment opportunity. Priced at $1,260,000, the property comprises two, two-story buildings totaling 9,771 square feet on a 0.15-acre lot. Built in 1930 and renovated in 2024, the property is currently vacant and zoned ZO01. The building's design is well-suited for group home operations, assisted living, or other residential care services. Each of the 16 units offers a functional and comfortable layout, promising strong rental demand and long-term stability. Irvington's vibrant community, convenient amenities, and proximity to public transportation further enhance the property's appeal and potential for high returns. This property offers investors a chance to capitalize on a sought-after location and strong rental market within a well-established neighborhood with growth potential. The property's current vacancy allows for immediate implementation of a new rental strategy. This is a rare opportunity to acquire a substantial multifamily asset in a desirable Indianapolis neighborhood.