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Listed by Chas Schaffernoth • F.C. Tucker Company
$ 1,300,000
Est. payment | /mo
10,000 SqFt
$ 1,300,000
Est. payment | /mo
10,000 SqFt
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Pending
Purchase Type For Sale
Square Footage 10,000 sqft
Price per Sqft $130
MLS Listing ID 22103297
Year Built 1917
Tax Year 2024
Lot Size 9,583 Sqft
Acres 0.22
Property Sub-Type Multi-Family 5+
Property Description
Capitalize on the incredible momentum and rapid redevelopment in the historic Hasselman Place neighborhood. Located just blocks from major transit corridors and cultural hotspots, this exceptional 10-unit apartment building delivers a highly desirable asset mix built for modern urban living: six expansive 3-bedroom units and four comfortable 2-bedroom units. This value-add property offers immense revenue upside, with a projected gross monthly income of $22,000 upon stabilization. Stabilized pro-forma metrics indicate 3-bedroom units can easily command $2,600/month, while the 2-bedroom units secure $1,900/month. Currently zoned D-5, this property presents a premier play for forward-thinking investors ready to secure a zoning variance and unlock the full operational cash-flow potential of this historic location.
Location
State IN
County Marion
Zoning d5
Interior
Fireplace N
Exterior
Utilities Available Water Connected
View Y/N false
Building
Story Three Or More
Architectural Style Other
Structure Type Vinyl Siding
New Construction false
Schools
School District Indianapolis Public Schools
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