2726 S Lyons Avenue
Indianapolis, IN, 46241 $ 300,000
Bedrooms-- Baths0.0 Monthly Estimate*
$ 2,072
for $300,000. This home was built in 1935 on a lot size of 0.24.
A rare opportunity offering flexibility, space, and income potential-all in one property. Whether you're looking to expand your investment portfolio, offset your mortgage with rental income, or create a multi-generational living arrangement, this fully renovated tri-plex offers options that are hard to find. The property features three separate living spaces with a total of 7 bedrooms and 3 bathrooms. The main residence offers a spacious 3-bedroom, 1-bath layout, while the in-law quarters provide a private 2-bedroom, 1-bath setup. The third unit adds another 2 bedrooms and 1 bathroom, along with its own dedicated laundry room for added convenience. Previously generating approximately $5,000 per month in total rental income, this property offers compelling income potential for an investor or an owner-occupant looking to live in one unit while renting the others. Extensive renovations have already been completed throughout the property, including new HVAC systems, water heaters, plumbing, electrical, waterproof flooring, fresh interior paint, updated bathrooms, new faucets, appliances, and a new garage door. A 2-car garage provides additional value with space for parking, storage, or hobbies. With three living spaces, extensive updates, and multiple ways to use the property, this is more than just a home-it's an opportunity to create income, flexibility, and long-term value under one roof.
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FeaturesGeneralHeating Baseboard Forced Air
Cooling Central Air Wall Unit(s)
Possession Closing
Roof Asphalt
Garage Spaces 2
Architectural Style Bungalow
Construction Materials Aluminum Siding
Year Built 1935
Township Wayne
Levels One
Property Subtype Triplex
Tax Year 2025
Current Use Residential Vacant
County Marion
New Construction N
Property Type Residential Income
Subdivision Name Mars Hill
Facing Direction East
Status Active
Directions GPS Friendly
City Indianapolis
High School District Indianapolis Public Schools
Number Of Units Total 3
MLS Area 4909 - Marion - Wayne
Lot Size Square Feet 10411
Property Attached Y/N N
Additional Parcels Y/N N
Structure Type Triplex
Standard Status Active
Tax Lot 271 & 272
Legal Description Mars Hill L271 & L272
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ExteriorExterior Amenities Gutter Guards
Parking Features Detached
Lot Features Mature Trees
Foundation Details Block
Lot Size Acres 0.24
Road Surface Type Gravel
Waterfront Y/N N
Road Frontage Type City Street
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* Excluded FeaturesList ByKeller Williams Indy Metro PartnersBroker
denisobrien.kw@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $2,072
- Monthly Property Taxes
- $416
- 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 17%
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 |
|---|
| 10/2/2026 | $300,000 | | Listed Price |