2457 & 2461 S Shelby Street Indianapolis, IN 46203
INVESTOR ALERT!! MASSIVE PRICE REDUCTION!! Presenting a rare opportunity for savvy real estate investors: a renovated 10-unit apartment building in the highly sought-after Garfield Park neighborhood of Indianapolis with value add potential. This near-turnkey property is poised to deliver robust returns and strong cash flow once the final renovations are completed, making it an ideal addition to any investment portfolio. The property consists of 10 units: 5 units with 2 bedrooms and 1 bathroom, 4 units with 1 bedroom and 1 bathroom, and 1 efficiency unit. Currently, two units are rented at $1300 (2br) and $800 (efficiency) per month, respectively. With full occupancy, the estimated gross rents could reach $10k+ per month, significantly exceeding the 1% rule and underscoring the property's strong financial potential. Comprehensive renovations to the property ensure modern, attractive living spaces that appeal to quality tenants. Most of the heavy lifting has been done, but two units still need to be finished out and there are a few misc cosmetic repairs needed on the exterior. Easy work for instant equity! Tenants are responsible for all utility costs, optimizing your net income. An expansive concrete parking pad at the rear of the building provides dedicated parking for 4+ cars, creating the potential for additional income. Professional property management is already in place, offering a seamless transition and continued high-quality oversight. Positioned on a spacious corner lot directly across from the picturesque Garfield Park, this property offers a prime location that enhances tenant appeal and lifestyle. Additionally, it is just minutes from downtown Indy, providing easy access to dining, entertainment, and employment hubs. This property represents a strategic investment with substantial upside potential in one of the city's revitalizing neighborhoods. Don't miss out on this exceptional opportunity to secure a high-performing asset in a prime location!
- Property TypeCommercial
- NeighborhoodN/A
- CountyMarion
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site28 Days
- MLS StatusActive
- MLS ID Number21981024
- Home Size Source Assessor
- Year Built1920
- Lot Size0.21 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Traditonal American
- Construction Cement SidingVinyl Siding
- Electric 200+ Amp Service
- Basement Unfinished
- Number of Stories 2
- Acreage 0.21
- Attached Garage No
- Utilities Water Connected
- Zoning D8
- Number Of Stories 2
- Parking Alley Access
- Lot Features Sidewalks
Interior Features
- Cooling None
- Heating Baseboard
- Laundry Features No Laundry Facil.
Exterior Features
- Roof Flat
- Waterfront Property No
- Lot Sidewalks
- Construction Details Cement SidingVinyl Siding
Community Features
- Township Center SE
- MLS Area 4913 - Marion - Center Se