USAINIndianapolisRitters Sub Johnson1635 Central Ave
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1635 Central Ave, Indianapolis, IN

House

For Sale

Listed price in listed location currency (USD).
$550,000

000

MLS® 22105508

  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size -
Garage 
Taxes 
Days Active 0
Lot Size 
Approx. Age 1930
MLS® Number 22105508

Property Address: 1635 Central Ave, Indianapolis, IN, 46202-1621

Average square foot calculated using Size range provided by listing agent.

Description

Over 6% cap rate! Located at the intersection of the highly desirable Herron Morton and Old Northside neighborhoods, this 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. Buildings can be purchased together as a 12 unit complex, or split into four plexes. Each building already has its own parcel number and legal description. (See BLC#22103331 for commercial 12 unit listing.) Each unit features a spacious two bedroom, one bath layout with lots of natural light. Units are 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.
MLS® Number22105508
Laundry LevelLower
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1930
BasementDaylight, Storage Space, Unfinished
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jun 2, 2026List Date
$550,000List Price
Feb 15, 2024End Date
$1,200,000Sold Price

Sold

May 6, 2026List Date
$1,400,000List Price
  • Commute

Commute

Starting Address
Destination Address
1635 Central Ave, Indianapolis, IN

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