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2536 Indianapolis Ave
Indianapolis, IN 46208 Near NW Riverside

$280,000 USD

Apartments For Sale  •  3,176 SF

Property Details

  • Property Type Apartments
  • Total Building Size 3,176 SF
  • Lot Size 0.1 AC
  • Building Class C
  • Year Built 1920
  • Cap Rate 16.71 %
  • Zoning D5
44 Transit Score
63 Walk Score

Highlights

Turnkey 46208 quadplex with 7-bed rent-by-room setup, partial occupancy, and $4,900+/mo full RbR potential near Butler University and IU Health.
D5 zoning supports RbR, sober-living, subsidy programs, or Airbnb—unlocking $5,600–$12,600/mo income paths with zero rehab needed.
$350–400K ARV range with strong comps; add sub-meters and fill 3 vacancies to boost NOI and push DSCR into the 1.6–1.8+ range.

Property Flyers

Cap Rate: 16.71 %

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Cable Ready
  • Controlled Access
  • Security System
  • Storage Space
  • Heating
  • Kitchen
  • Tub/Shower
  • Yard
  • Basement
  • Family Room
  • Smoke Free
  • Vinyl Flooring
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
Indianapolis (Cardinal - Amtrak) 8 min - 3.3 mi
AirportDriveWalkDistance
Indianapolis International 30 min - 15.9 mi
Jamie Franklin 317-597-0457 Acquire JDF
Jamie Franklin 317-597-0457 Acquire JDF