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Property profile

609 Woodruff Place Middle Dr Indianapolis, IN 46201

FOR SALE
Apartment buildings
Property ID
US31-0383581
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609 Woodruff Place Middle Dr, Indianapolis, IN 46201 For Sale
$775,000
609 Woodruff Place Middle Dr, Indianapolis, IN 46201
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Property summary

AI-generated overview

Investor opportunity in the beautiful historic Woodruff Place! This 5-unit multifamily property is being offered for sale individually or as part of a rare 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. All units are currently leased, providing immediate income and stable cash flow. The property has seen several recent improvements, including a new boiler installed at the end of 2025, new water heaters installed in 2025, and two units that have been fully renovated, offering a mix of updated living spaces and value-add potential. Located just minutes from downtown Indianapolis, this property benefits from the charm, walkability, and strong rental demand that Woodruff Place is known for. Whether purchased individually or as part of the larger portfolio, this is a rare opportunity to invest in a historic neighborhood with consistent rental demand and long-term upside.

Property profile

Verified
Property type Apartment buildings
UPID US31-0383581

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

609 Woodruff Place Middle Dr Indianapolis, IN 46201
Indianapolis metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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