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5824 E Washington St
Indianapolis, IN 46219 Eastside

$3,980,000 USD

Apartments For Sale  •  39,528 SF

Property Details

  • Property Type Apartments
  • Total Building Size 44,550 SF
  • Lot Size 1.73 AC
  • Building Class C
  • Year Built 1963
  • Zoning MF
30 Transit Score
50 Walk Score

Highlights

Incomes +22% Above the County - Irvington households earn a median of $81K a year, about 22% more than Marion County's $66K.
Clear Lease-Up Upside - Currently 79% occupied, straightforward lease-up expands the cap rate into the high 8% to 9% range.
Priced Below Replacement - At roughly $63K per unit and near $100 per square foot, the basis sits well under new construction.
Scale in a Growth Path - Two communities a mile apart, offered together at a contingent discount, next to an incoming $2 billion data center.

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Laundry Facilities
  • Tenant Controlled HVAC
  • Heating
  • Recycling
  • Trash Pickup - Curbside
  • Tile Floors
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Carpet

Public Transportation

Commuter RailDriveWalkDistance
14 min - 7.1 mi
AirportDriveWalkDistance
Indianapolis International 37 min - 20.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 35
Type: Surface
Included in Rent: Yes
Aaron Kuroiwa 317-728-8854 Marcus & Millichap
Aaron Kuroiwa 317-728-8854 Marcus & Millichap