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Listed by Tyler Lingle • @properties
$ 1,599,900
Est. payment /mo
New
1340 N Park AVE Indianapolis, IN 46202
2,613 Sqft Lot
UPDATED:
Key Details
Property Type Other Types
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 22133059
Year Built 1890
Tax Year 2025
Lot Size 2,613 Sqft
Acres 0.06
Property Sub-Type Multi Family
Property Description
FIVE UNIT INVESTMENT BRINGING IN $13,100/MONTH - ALMOST FULLY LEASED, TURNKEY, AND POSITIONED FOR LONG-TERM APPRECIATION.$1340 North Park Avenue is a heavily updated five-unit building in the heart of the Old Northside, one of Indianapolis' most historic, walkable, & consistently appreciating neighborhoods. Producing $13,100 in monthly income, ($157,200 annually), this stabilized asset delivers immediate cash flow with strong tenant demand & minimal operation lift. Each spacious residence offers two bedrooms & two bathrooms with updated kitchens, refreshed bathrooms, modern layouts, & in-unit laundry hookups. The penthouse stands out with a private rooftop deck & downtown views, while all residents benefit from assigned off-street parking - amenities that continue to support premium rents & retention. This is not a "chase yield" property - it is a wealth preservation & appreciation play. Assets like this are typically acquired by investors who prioritize location, tenant quality, & long-term equity growth over short-term returns. The building is four-fifths occupied, creating dependable income from day one, with additional upside through future rent growth & expense optimization. Situated just minutes from the Bottleworks District, tenants enjoy some of the city's best dining, entertainment, & boutique retail, reinforcing the area's desirability & 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 North Park Avenue represents a rare opportunity to acquire a clean, high-performing property in a premiere 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
View Y/N true
View City, Neighborhood
Roof Type Asphalt,Flat
Building
Story Three Or More
Architectural Style Victorian
Structure Type Brick
New Construction false
Schools
School District Indianapolis Public Schools
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