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1635 Central Ave

Indianapolis IN 46202

17028 sq. ft.
5032 sq. ft.
Multi-Family
Currently for sale - view listing

Overview

**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 12 unit property offers a prime opportunity for experienced landlords, or investors entering the multifamily market. The complex consists of three all brick buildings, four units each. Each unit features a spacious two bedroom, one bath layout with lots of natural light. Each unit is 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. See BLC#22105508 for residential listing- all 3 buildings are separate parcels and could be sold individually, although seller prefers to sell as a whole.

Features

17028 sq. ft. floor area
5032 sq. ft. lot size
Multi-Family

Property history for 1635 Central Ave

2024
Sold
$1,200,000
28 Mar 2024 by Kathryn Teltow, of Highgarden Real Estate
2021
Rented
Undisclosed
26 Mar 2021 by Alpine Leasing
2017
Rented
Undisclosed
12 Apr 2017 by Alpine Realty, LLC

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Local market activity for multi families in Indianapolis

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