Indianapolis, IN Residential Income Properties for Sale

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Updated: Mar 18

Historic Woodruff Place Multifamily Property

640 Woodruff Place Middle Dr, Indianapolis, IN 46201

$525,000

4,377 sqft

Immediate income and stable cash flow from 100% leased units.
Rare opportunity to acquire property in the desirable historic Woodruff Place neighborhood.
Potential to purchase as part of a portfolio with four additional nearby buildings.
Recent improvements including new sewer, roof (2021), remodeled bathrooms in 3 units, remodeled kitchens in 2 units, and new AC in Unit 3.
Value‑add potential for increased returns.

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Here's a quick look at some key insights for

640 Woodruff Place Middle Dr, Indianapolis, IN 46201

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Est. Cap Rate

8.8%
Above avg (5.9%)
Est. NOI

$46K
Annual
Price @ 7% Cap

$660K
Above asking
Property Type

Vacant Commercial
Built 1910

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Updated: Jul 22

Four-Unit Townhome Package

1101 Sterling Street, Indianapolis, IN 46201

$1,000,000

0.11 AC lot

4‑townhome package built in 1910 with a party wall agreement in place
Each unit offers 3 bedrooms and 1.5 bathrooms
3rd‑floor loft included in the layout
Addresses included: 1101, 1103, 1105, and 1107 Sterling Street
All units are currently occupied with management in place

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All-Brick Fourplex with 2BR Units

1635 Central Avenue, Indianapolis, IN 46202

$525,000

0.12 AC lot

One of three all-brick four-unit buildings with spacious two-bedroom layouts, individual electric metering, and on-site coin laundry.

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Side-by-Side Duplex

23 S Harris Avenue, Indianapolis, IN 46222

$214,900

0.11 AC lot

Two side-by-side duplex units at 23-25 S Harris Ave, each with separate utilities and month-to-month terms.

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Pre-War Brick Multifamily Building

5819 E Washington St, Indianapolis, IN 46219

$950,000

10,000 sqft 0.25 AC lot

Fourteen-unit pre-war property with 13 studios and one one-bedroom unit on a small, well-maintained site.

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Brick Duplex with Detached Garage

1903 Patton Drive, Indianapolis, IN 46224

$300,000

0.28 AC lot

Full brick duplex with gutter guards, plus a detached two-car garage with separate spaces and doors for each unit.

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Tenant-Occupied Quadplex Investment

15 N Riley Avenue, Indianapolis, IN 46201

$240,000

0.37 AC lot

Ranch-style quadplex with all units currently occupied and a recent full rehab to unit four.

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Renovated Triplex-Style Income Property

2018 Prospect Street, Indianapolis, IN 46203

$475,000

0.09 AC lot

Fully renovated income property with two 2-bedroom units plus a separate-entry studio suite for flexible living or leasing.

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Historic Restaurant with Studio Apartments

1144 Kentucky Avenue, Indianapolis, IN 46221

$605,000

4,864 sqft

First-floor restaurant plus eight leased studio apartments above, with parking lot for about 35 vehicles and basement storage.

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Turnkey Duplex with Private Yard

1944 E Epler Avenue, Indianapolis, IN 46227

$240,000

0.43 AC lot

Duplex with one side occupied and one side move-in ready, plus private yard and covered deck.

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Duplex with Covered Porches

833-835 Camp Street, Indianapolis, IN 46202

$410,000

0.09 AC lot

Duplex offering two 2-bedroom units with covered porches, partially fenced yard space, and four alley-accessible off-street parking spots.

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Mixed-Use Building with Vacant Retail

2305 E Michigan St, Indianapolis, IN 46201

$575,000

5,205 sqft

Fully renovated 2025 mixed-use building with one vacant commercial space and three leased residential units.

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Duplex with Two 3BR Units

842-844 N California Street, Indianapolis, IN 46202

$480,000

0.09 AC lot

Well-maintained duplex with two units, each offering 3 bedrooms and 2.5 bathrooms.

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Updated Quadplex with Furnished Units

2407 N Capitol Avenue, Indianapolis, IN 46208

$659,999

0.12 AC lot

Four updated furnished units in a quadplex setup, including 1- and 2-bedroom layouts with garage parking.

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Woodruff Place Multifamily Investment Opportunity

625 Woodruff Place Middle Dr, Indianapolis, IN 46201

$520,000

5,380 sqft

Four-unit multifamily property in historic Woodruff Place, Indianapolis.

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New All-Brick Duplex with Two Garages

752 N Elder Avenue, Indianapolis, IN 46222

$449,999

0.10 AC lot

Tenant-ready duplex with two 2-bed, 2-bath units and dedicated garage bays.

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Turnkey Side-by-Side Duplex

2610 E North Street, Indianapolis, IN 46201

$265,000

0.08 AC lot

Two occupied units with separate utilities, central heat/AC, and updated interiors, plus fenced outdoor space and alley parking.

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Historic Woodruff Place Multifamily Investment

609 Woodruff Place Middle Dr, Indianapolis, IN 46201

$775,000

5,150 sqft

Nine-unit multifamily property in historic Woodruff Place, Indianapolis.

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Remodeled Quadplex

1338 Barth Avenue, Indianapolis, IN 46203

$650,000

0.14 AC lot

Updated quadplex with two 2-bedroom/2-bath and two 1-bedroom/1-bath units, three currently leased.

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Historic Woodruff Place Multifamily Investment

624 Woodruff Place Middle Dr, Indianapolis, IN 46201

$1,000,000

7,150 sqft

Nine-unit multifamily property in historic Woodruff Place, Indianapolis.

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English Tudor Duplex

36 W 56th Street, Indianapolis, IN 46208

$775,000

0.30 AC lot

Brick Tudor duplex with two mirror-image units, screen porches, fireplaces, and a detached two-car garage.

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Mixed-Use Investment Building

536 E MARKET ST, Indianapolis, IN 46202

$3,900,000

20,952 sqft

Well-maintained mixed-use property with elevator, dry sprinkler system, LED lighting, and parking, zoned CBD-2 for retail, office, or multifamily.

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Modern Duplex with Separate Utilities

2030 E Maryland Street, Indianapolis, IN 46201

$400,000

0.28 AC lot

Newly built, already-leased duplex with two 3-bedroom units and separate entrances, meters, and off-street rear parking.

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Updated Quadplex Income Property

1021 N Ewing Street, Indianapolis, IN 46201

$214,900

0.11 AC lot

An updated four-unit quadplex with three rented units and one recently updated, move-in ready vacancy.

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Indianapolis, IN Residential Income Properties Market Trends and Statistics

Explore 153 residential income properties for sale in Indianapolis, IN, showcased through 153 active listings on our real estate platform. These investment opportunities span a total of 265,958 square feet of properties for sale, with an estimated market value of $57,173,377.

Sale prices for residential income properties in Indianapolis, IN start at $50,000, averaging $414,299, and reaching up to $3,900,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 979K

Population Growth (5Y) +2.8%

Median Household Income $67,417

College Educated 30.4%

High-Yield Neighborhoods for Investment

Identify Indianapolis submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
46237	$179K
46227	$209.9K
46222	$266K
46218	$298.3K
46208	$319.9K

Taxes & Financing

Tax Rate (average for all types) 2.46%

Property Tax per SF $41.61 per SF

Tax Rate vs County Average 0.02 pp below county avg

Average Loan-to-Value 65.0%

Property Size Breakdown

The majority of commercial real estate listings in Indianapolis fall within the 100,000+ square foot range.

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Indianapolis, IN Residential Income Properties for Sale

640 Woodruff Place Middle Dr, Indianapolis, IN 46201

1101 Sterling Street, Indianapolis, IN 46201

1635 Central Avenue, Indianapolis, IN 46202

23 S Harris Avenue, Indianapolis, IN 46222

5819 E Washington St, Indianapolis, IN 46219

1903 Patton Drive, Indianapolis, IN 46224

15 N Riley Avenue, Indianapolis, IN 46201

2018 Prospect Street, Indianapolis, IN 46203

1144 Kentucky Avenue, Indianapolis, IN 46221

1944 E Epler Avenue, Indianapolis, IN 46227

833-835 Camp Street, Indianapolis, IN 46202

2305 E Michigan St, Indianapolis, IN 46201

842-844 N California Street, Indianapolis, IN 46202

2407 N Capitol Avenue, Indianapolis, IN 46208

625 Woodruff Place Middle Dr, Indianapolis, IN 46201

752 N Elder Avenue, Indianapolis, IN 46222

2610 E North Street, Indianapolis, IN 46201

609 Woodruff Place Middle Dr, Indianapolis, IN 46201

1338 Barth Avenue, Indianapolis, IN 46203

624 Woodruff Place Middle Dr, Indianapolis, IN 46201