What to know about this one.
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.
Property details
- Property type
- Quadruplex
- Year built
- 1910
- Lot size
- 0.12 ac
- Stories
- Two
- County
- Marion
- MLS #
- MBR22119985
Estimate your monthly payment
- P&I $4,786
- Property tax $371
- Insurance $332
Estimates only, not a quote. Defaults reflect Marion County / Indianapolis averages: property tax from this home's actual county bill, homeowners insurance at 0.42% annually. Conventional: PMI runs 0.55% of the loan annually when your down payment is below 20%, and drops automatically at 22% equity. Your real number depends on credit, taxes assessed for the parcel, escrow, condo insurance, and HOA. Rates as of May 2026 and subject to change.
Talk to a lender we trust2008 E Washington Street
Indianapolis, IN 46201