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315 N Senate Avenue Indianapolis, IN $ 2,900,000
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$ 2,900,000 Get more info
315 N Senate Avenue
$ 2,900,000
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Share Save

315 N Senate Avenue

Indianapolis, IN, 46204
$ 2,900,000
Bedrooms-- Baths-- Sq 28,756

Monthly Estimate*

$ 20,030

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Commercial Property for sale in Indianapolis, IN

for $2,900,000. This 28,756 square foot building was built in 1898 on a lot size of 0.016.

Originally constructed in 1898 by local businessman Herman E. Martens, the building is a beautifully restored example of Classical Revival architecture, featuring unique pentagonal design elements, limestone detailing, and large bay windows. In the early 1990's the building was completely renovated and legally converted into 19 individual parcels. Martens HPR Unit #1 thru#19. The property was extensively renovated while preserving its historic character, offering residents a blend of vintage charm and modern convenience. The units have a combination of hardwood and vinyl flooring, new gourmet kitchens with stove, frig, microwave, dishwasher, disposal and granite/butcher block counters. Units have their own independent electric heat pumps for heating/cooling, electric water heater and 100-amp electric service. Today the building is operated as a 19-unit apartment house but could easily be converted to accommodate a multitude of investment opportunities. The building has nine-1 bedroom/one bathroom, one-1 bedroom/1.5 bathroom, eight- 2 bedroom/2 bathroom and one-2 bedroom/one bathroom. The buildings brick and limestone exterior, newer windows and updated electrical and plumbing keep maintenance cost low. Over the past few years, a new Firestone rubber membrane roof and two new Velux skylights have been installed. Situated near the intersection of Senate Avenue and Indiana Avenue, The Martens provides easy access to downtown Indianapolis attractions, cultural venues, restaurants, entertainment districts, and major employment centers. The building's central location within the Indianapolis Mile Square offer's easy access to both IU and Purdue's Indianapolis campuses (2 blocks to the west), Kroger's Grocery (1 block to the north), the Capitol Building (1 block to the south) and Lucas Oil Stadium (4 blocks to the south) The Martens offers a unique residential experience for those seeking historic character, a walkable downtown lifestyle in Indianapolis.

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Commercial Active

Price

$ 2,900,000

Property Type

Commercial

Taxes

$ 20,632

Style

Multi Family

Lot Size

0.016

Year Built

1898

Town/City

Indianapolis

County/Region

Marion

MLS | Web ID

22109027
Features
General
Heating Heat Pump
Cooling Central Air
Utilities Electricity Connected Sep Electric Meter Sewer Connected Water Connected
Possession Closing
Roof Rubber
Zoning CBD
Construction Materials Brick
Year Built 1898
Township Center
Levels Three Or More
Property Subtype Multi Family
Tax Year 2024
Current Use Apt<20
Building Name Martens
County Marion
New Construction N
Property Type Commercial Sale
Status Active
Directions GPS Friendly
City Indianapolis
High School District Indianapolis Public Schools
Number Of Units Total 19
MLS Area 4910 - Marion - Center
Lot Size Square Feet 7189
Property Attached Y/N Y
Structure Type Apartment Building
Standard Status Active
Tax Lot 1101737
Legal Description Martens HPR Unit #1 & 5.9% INT COMMON AREA SQ28 thru Martens HPR Unit #19 & 4.1% INT COMMON AREA SQ28
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Interior
Basement Apartment Finished
Basement (Y/N) Y
Laundry Features Laundry Room
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Exterior
Building Area Total 28756
Lot Size Acres 0.016
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* Excluded Features
List By
Kumler Realty

Broker

tkumler@yahoo.com

Email

Affordability Calculator

$21,749
Per Month
92%
8%
0%
Monthly Principal & Interest
$20,030
Monthly Property Taxes
$1,719
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
10/7/2026 $2,900,000 -9.38% Price Down
8/7/2026 $3,200,000 -5.88% Price Down
7/24/2026 $3,400,000 -12.82% Price Down
7/9/2026 $3,900,000 Listed Price

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315 N Senate Avenue, Indianapolis, IN, 46204 is a Commercial Property for sale at $2,900,000 with 28,756 sqft and a lot size of 0.016. 315 N Senate Avenue was built in 1898. The property's zip code is 46204 which is in Indianapolis, IN

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