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Listed by Max Moore • @properties
$ 1,599,999
Est. payment /mo
Pending
1340 N Park AVE Indianapolis, IN 46202
0.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 22075708
Year Built 1890
Tax Year 2024
Lot Size 0.330 Acres
Acres 0.33
Property Sub-Type Multi-Family 5+
Property Description
5 UNIT INVESTMENT BRINGING IN $13,100 A MONTH - FULLY LEASED, TURNKEY, AND POSITIONED FOR LONG-TERM APPRECIATION. 1340 N Park Ave is a heavily updated five-unit building located in the heart of the Old Northside, one of Indianapolis' most historic, walkable, and consistently appreciating neighborhoods. Producing $13,100 in monthly income ($157,200 annually), this stabilized asset delivers immediate cash flow with strong tenant demand and minimal operational lift. Each spacious residence offers two bedrooms and two bathrooms with updated kitchens, refreshed baths, modern layouts, and in-unit laundry hookups. The penthouse stands out with a private rooftop deck and downtown views, while all residents benefit from assigned off-street parking - amenities that continue to support premium rents and retention. This is not a "chase yield" property - it is a wealth preservation and appreciation play. Assets like this are typically acquired by investors who prioritize location, tenant quality, and long-term equity growth over short-term returns. The building is 100% occupied, creating dependable income from day one, with additional upside through future rent growth and expense optimization. Situated just minutes from the Bottleworks District, tenants enjoy some of the city's best dining, entertainment, and boutique retail, reinforcing the area's desirability and long-term value. Ideal for a 1031 exchange buyer, high-income professional, or portfolio investor looking to anchor their holdings with a blue-chip multifamily asset, 1340 N Park Ave represents a rare opportunity to acquire a clean, high-performing property in a premier Indianapolis location.
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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