2008 E Washington ST, Indianapolis, IN 46201
2008 E Washington ST, Indianapolis, IN 46201
2008 E Washington ST, Indianapolis, IN 46201
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Listed by Max Moore • @properties
$949,500
Est. payment /mo
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5,227 Sqft Lot
New

2008 E Washington ST Indianapolis, IN 46201

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Audri McGrane

Audri McGrane

+1(317) 509-9729

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision State Plaza

MLS Listing ID 22119985

Year Built 1910

Tax Year 2025

Lot Size 5,227 Sqft

Acres 0.12

Property Sub-Type Quadruplex

Property Description

Eight units, all one bed one bath, on one of the most active corridors in Indianapolis. Six are leased today and bringing in $6,740 a month. The other two are vacant and turn-ready, no renovation required. Lease them at the $1,175 the building next door already gets and this property runs $9,400 a month, or $112,800 a year. That is the entire value-add, and it costs nothing but a lease-up. Every unit was renovated under current ownership. New flooring, fresh paint, updated fixtures, modern kitchens and bathrooms. Electronic locks on every door, so a turnover is not a rekey project. Seventeen months of seller actuals put operating expenses near $27,300 a year including taxes, insurance, maintenance, trash, pest and internet. Filled up, that is a net operating income around $79,900 before debt. Shared rear parking gives every tenant a space. Roof, electrical, plumbing and HVAC were all inspected at acquisition and the reports are available. East Washington is drawing real neighborhood investment right now, with quick access to downtown, Fountain Square and Irvington. You are buying into the path of growth, not chasing it. The identical eight-unit next door at 2012 E Washington is also for sale, and the two can be bought together as a 16-unit package. Rent roll, profit and loss, and the full deal package are ready for qualified buyers. Sold as-is.

Location

State IN

County Marion

Zoning CMF

Interior

Fireplace N

Building

Story Two

New Construction false

Schools

School District Indianapolis Public Schools

MIBOR MLS
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Audri McGrane

Audri McGrane

Director of Operations | RBRB18002064

+1(317) 509-9729

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2008 E Washington ST

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