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2407 N Capitol Avenue

Indianapolis, IN 46208

ActiveListed Mar 20, 2026 · 195 days on market

Key facts

Lot
0.12 acres
Year built
1914
Type
Residential Income · Quadruplex
Stories
Three or more
Garage
3 spaces
MLS #
22090562
County
Marion
Subdivision
J W Becks Sub Rhodes

About this home

Step into a rare investment opportunity where style, flexibility, and income potential converge. This beautifully updated quadplex offers four fully furnished units, thoughtfully designed to maximize both comfort and revenue. Ideally located just moments from downtown nightlife, dining, and entertainment, the property benefits from consistently high occupancy driven by its prime location and boutique-style finishes. Current ownership has successfully operated the units as short-term rentals, demonstrating strong income performance with additional upside through a mix of short-term (STR) and mid-term rentals (MTR). The building features three well-appointed one-bedroom, one-bathroom single-level units, each recently upgraded with modern improvements. The fourth unit is a spacious two-bedroom, two-bathroom, two-level residence, complete with a large walk-in closet. Each bedroom in unit 4 includes a versatile spaces-perfect for additional seating, an office, cozy play area, reading nooks and or additional storage or whatever you decide! All four units can be sold fully furnished, offering a seamless, turnkey investment and or unfurnished. The property also includes two garages with capacity for at least three vehicles total, adding convenience and value for guests or tenants. Outdoors, a thoughtfully designed backyard patio provides multiple seating areas, creating a relaxing retreat ideal for entertaining or unwinding after a night in the city or a long day of work. With multiple exit strategies-including continued STR/MTR operation, conversion to long-term rentals, or redevelopment into townhomes or condos-this property also offers additional upside through the potential development of the included green space. Whether you're expanding your portfolio or seeking a versatile, income-producing asset, this property delivers on location, lifestyle, and long-term potential.

Description provided by the listing brokerage.

Interior

Laundry
Laundry Closet
Security
Smoke Detector(s)
Condition
Updated/Remodeled

Exterior

Exterior features
Fire PitBalcony
Roof
Shingle
Construction
Brick
Foundation
Concrete Perimeter
Parking and garage
Detached
Fencing
Front Yard
Other equipment
Smoke AlarmVaries by Unit

Systems

Heating
Forced Air
Cooling
Window Unit(s)

Schools

School district
Indianapolis Public Schools

Taxes

Estimated annual tax
$8,580 / yearTwice the semi-annual installment the listing reports.
Tax year
2024

Estimate your monthly payment

$4,218per month, estimated
Principal and interest $3,276Property tax $715Insurance $227
20% · $129,980
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$649,900
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