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624 Woodruff Place Middle Drive

Indianapolis, IN 46201

ActiveListed Mar 16, 2026 · 135 days on market

Key facts

Living area
8,617 sqft
Lot
0.31 acres
Year built
1900
Type
Commercial Sale · Multi Family
Stories
Two
MLS #
22088937
County
Marion
Total building area
8,617 sqft

About this home

Investor opportunity in the beautiful historic Woodruff Place! This 9-unit multifamily property is being offered for sale individually or as part of a rare portfolio opportunity that includes four additional nearby buildings, all in Woodruff. This allows investors the chance to acquire multiple assets within one of Indianapolis' most desirable historic neighborhoods. All units are currently leased, providing immediate income and stable cash flow. The property has seen several recent improvements, including new sewer, new boiler, new water heater, updates to bathrooms in 616, new interior paint in 4 units offering a mix of updated living spaces and value-add potential. Located just minutes from downtown Indianapolis, this property benefits from the charm, walkability, and strong rental demand that Woodruff Place is known for. Whether purchased individually or as part of the larger portfolio, this is a rare opportunity to invest in a historic neighborhood with consistent rental demand and long-term upside.

Description provided by the listing brokerage.

Interior

Laundry
Common Laundry

Exterior

Construction
Wood Brick

Systems

Heating
Hot Water
Cooling
Window Unit(s)
Utilities
Cable ConnectedElectricity ConnectedNatural Gas ConnectedWater Connected

Lot and HOA

Lot features
AccessCurbsSidewalksStreet LightsMature Trees
Zoning
D5

Schools

High school
Arsenal Technical High School
School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$18,616 / yearTwice the semi-annual installment the listing reports.
Tax year
2024

Estimate your monthly payment

$6,942per month, estimated
Principal and interest $5,041Property tax $1,551Insurance $350
20% · $200,000
6.47%
Loan type
Loan term

Estimates only. This calculator does not give 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.

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Listed at$1,000,000
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