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Listed by Max Moore • @properties
$ 1,799,999
Est. payment | /mo
0.33 Acres Lot
$ 1,799,999
Est. payment | /mo
0.33 Acres Lot
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 22075708
Tax Year 2024
Lot Size 0.330 Acres
Acres 0.33
Property Sub-Type Multi-Family 5+
Property Description
1340 N Park Ave is a fully leased, heavily updated five-unit building in the heart of the Old Northside-one of Indianapolis's most historic and walkable neighborhoods. This property delivers strong income, long-term tenants, and a level of stability that is hard to find in today's market. Each residence offers two bedrooms and two bathrooms with updated kitchens, refreshed baths, modern layouts, and in-unit laundry hookups. The penthouse stands out with its private rooftop deck and downtown views, and all tenants benefit from assigned off-street parking. The building is 100% occupied with no leases coming due soon, creating a steady, low-maintenance investment. Current income totals $13,100 per month, or $157,200 annually, supported by high demand for quality rentals in this neighborhood. The location places tenants just minutes from the Bottleworks District, one of Indianapolis's most vibrant destinations for dining, entertainment, and boutique retail. The Old Northside's historic charm and consistent appreciation make it a reliable setting for long-term ownership. 1340 N Park Ave is an ideal opportunity for an investor seeking a clean, updated, and turn-key building with strong rents, reliable tenants, and a location that continues to grow in value.
Location
State IN
County Marion
Zoning D8
Interior
Heating Heat Pump
Cooling Ductless, Heat Pump
Fireplace N
Exterior
Garage Spaces 4.0
Utilities Available Natural Gas Connected, Sewer Connected, Water Connected
Building
Structure Type Brick
New Construction false
Schools
School District Indianapolis Public Schools
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Zach Williams
REALTOR®