2407 N Capitol Avenue
Indianapolis, IN, 46208 $ 649,900
Bedrooms-- Baths0.0 Monthly Estimate*
$ 4,489
for $649,900. This home was built in 1914 on a lot size of 0.12.
Step into a rare investment opportunity where style, flexibility, and income potential converge. This beautifully updated quadplex offers four fully furnished units, thoughtfully designed to maximize both comfort and revenue. Ideally located just moments from downtown nightlife, dining, and entertainment, the property benefits from consistently high occupancy driven by its prime location and boutique-style finishes. Current ownership has successfully operated the units as short-term rentals, demonstrating strong income performance with additional upside through a mix of short-term (STR) and mid-term rentals (MTR). The building features three well-appointed one-bedroom, one-bathroom single-level units, each recently upgraded with modern improvements. The fourth unit is a spacious two-bedroom, two-bathroom, two-level residence, complete with a large walk-in closet. Each bedroom in unit 4 includes a versatile spaces-perfect for additional seating, an office, cozy play area, reading nooks and or additional storage or whatever you decide! All four units can be sold fully furnished, offering a seamless, turnkey investment and or unfurnished. The property also includes two garages with capacity for at least three vehicles total, adding convenience and value for guests or tenants. Outdoors, a thoughtfully designed backyard patio provides multiple seating areas, creating a relaxing retreat ideal for entertaining or unwinding after a night in the city or a long day of work. With multiple exit strategies-including continued STR/MTR operation, conversion to long-term rentals, or redevelopment into townhomes or condos-this property also offers additional upside through the potential development of the included green space. Whether you're expanding your portfolio or seeking a versatile, income-producing asset, this property delivers on location, lifestyle, and long-term potential.
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FeaturesGeneralHeating Forced Air
Cooling Window Unit(s)
Possession Closing
Roof Shingle
Garage Spaces 3
Security Features Smoke Detector(s)
Construction Materials Brick
Year Built 1914
Tenant Pays Electricity Gas Insurance Water
Township Center
Levels Three Or More
Property Subtype Quadruplex
Tax Year 2024
Current Use Residential
County Marion
Net Operating Income 42055
Insurance Expense 4660
New Construction N
Property Type Residential Income
Subdivision Name J W Becks Sub Rhodes
Status Active
Directions GPS Friendly
City Indianapolis
High School District Indianapolis Public Schools
Number Of Units Total 4
MLS Area 4910 - Marion - Center
Lot Size Square Feet 5280
Property Condition Updated/Remodeled
Structure Type Quadruplex
Standard Status Active
Tax Lot L17
Legal Description Joseph W Becks Sub Add L17
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ExteriorExterior Amenities Fire Pit Balcony
Fencing Front Yard
Parking Features Detached
Foundation Details Concrete Perimeter
Lot Size Acres 0.12
Waterfront Y/N N
Other Equipment Smoke Alarm Varies by Unit
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InteriorBasement (Y/N) Y
Laundry Features Laundry Closet
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* Excluded FeaturesList ByJIM@THEGILDAYGROUP.COMEmail
Affordability Calculator
- Monthly Principal & Interest
- $4,489
- Monthly Property Taxes
- $715
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Indianapolis, IN
Average List Price $351,341
Percent of Sale Price 46%
About Indianapolis, IN 843,184 Population
8% Since 2002
$ 43,160 Median Income
35.24 Median Age
29% Households with Children
Trends Information provided by ATTOM Data Solutions.
4044905 Elementary School
4044909 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 8/21/2026 | $649,900 | -1.53% | Price Down |
| 6/9/2026 | $659,999 | -2.21% | Price Down |
| 5/12/2026 | $674,900 | -3.59% | Price Down |
| 4/18/2026 | $699,999 | -3.44% | Price Down |
| 4/8/2026 | $724,900 | -3.35% | Price Down |
| 3/21/2026 | $750,000 | | Listed Price |