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1635 Central Avenue Indianapolis, IN $ 525,000
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$ 525,000 Get more info
1635 Central Avenue
$ 525,000
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1635 Central Avenue

Indianapolis, IN, 46202
$ 525,000
Bedrooms-- Baths0.0

Monthly Estimate*

$ 3,626

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Multi-Family Home for sale in Indianapolis, IN

for $525,000. This home was built in 1930 on a lot size of 0.12.

**Multiple offers received, highest and best was due 7/6. Pending home sale contingency** Located at the intersection of the highly desirable Herron Morton and Old Northside neighborhoods, AND in a designated Opportunity Zone, this property offers a prime opportunity for experienced landlords, or investors entering the multifamily market. The FULL complex consists of three all brick buildings, four units each. THIS LISTING is for ONE of the buildings (4 units). Buildings can be purchased together as a 12 unit complex, or split into four plexes. Each building already has its own parcel number and legal description. (See BLC#22103331 for commercial listing which includes ALL 12 UNITS.) Each unit features a spacious two bedroom, one bath layout with lots of natural light. Units are currently leased for $895-$995 per month. All leases will renew at $995. With a fantastic 95% occupancy rate maintained over the past several years, this proven income-producing asset delivers consistent cash flow, long term stability, and strong investment potential. Inquire for rent roll, expenses, and utilities. Residents pay their own electric; all units are individually metered. No gas. Owner pays water, sewer, & common area electric bills, and residents pay $50/month for utilities on top of rents listed above. Residents with pets pay additional $25/month. Each unit has its own furnace, central air, and water heater. Refrigerators and ovens in each unit. Coin operated laundry units and more storage in the basements of each building. Water heaters are located in basements. All units share one large trash dumpster in the alley. Current lease rates and dates by request. One unit is recently vacant and available for showings. (Other units can be accessed upon accepted offer.) Current property management company is willing to continue management.

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Multi-Family Pending

Price

$ 525,000

Property Type

Multi-Family

Taxes

$ 9,036

Style

Apartment Building

Lot Size

0.12

Year Built

1930

Town/City

Indianapolis

County/Region

Marion

MLS | Web ID

22105508
Features
General
Heating Electric Forced Air
Cooling Central Air
Possession Closing Negotiable Subject To Tenant Rights Other
Zoning ZO01
Security Features Smoke Detector(s)
Construction Materials Brick
Year Built 1930
Tenant Pays Electricity Other
Township Center
Levels Two
Property Subtype Quadruplex
Tax Year 2024
Current Use Apt<20
Additional Parcels Description Lots 1 2 & 3
County Marion
Net Operating Income 95000
New Construction N
Property Type Residential Income
Subdivision Name Ritters Sub Johnson
Possible Use Apt<20 Residential
Status Pending
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 5032
Property Attached Y/N Y
Current Financing Exchange - 1031 Conventional SeeRemarks Other
Additional Parcels Y/N Y
Virtual Tour https://view.lloydfpmedia.com/1635_central_ave-7473?branding=false https://view.lloydfpmedia.com/1635_central_ave-7473
Structure Type Apartment Building
Standard Status Pending
Tax Lot 2
Legal Description Ritters Sub Johnson Heirs Add 68.6Ft Nl 68Ft Sl Of74.3Ft S End L2 (Bldg C)
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Interior
Basement Daylight Storage Space Unfinished
Basement (Y/N) Y
Laundry Features In Basement
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Exterior
Lot Features Sidewalks Street Lights Mature Trees Trees-Small (Under 20 Ft)
Lot Size Acres 0.12
Road Surface Type Asphalt
Waterfront Y/N N
Road Frontage Type City Street
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* Excluded Features
List By
Keller Williams Indy Metro Partners

Broker

emilyhuskey@kw.com

Email

Affordability Calculator

$4,379
Per Month
83%
17%
0%
Monthly Principal & Interest
$3,626
Monthly Property Taxes
$753
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.
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Nearby
4044905 Elementary School
4044909 Middle School
Unknown High School High School
See complete school information
Pricing History
Date Price Price Change Description
6/30/2026 $525,000 -4.55% Price Down
6/2/2026 $550,000 Listed Price

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1635 Central Avenue, Indianapolis, IN, 46202 is a Multi-Family Home for sale at $525,000 with a lot size of 0.12. 1635 Central Avenue has 0.0 baths and was built in 1930. The property's zip code is 46202 which is in Indianapolis, IN

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