REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Tasheana Hanza • Hanza Realty, LLC
$ 340,000
Est. payment /mo
New
3614 E Washington ST Indianapolis, IN 46201
2,288 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 2,288 sqft
Price per Sqft $148
MLS Listing ID 22042720
Year Built 1925
Tax Year 2024
Lot Size 0.280 Acres
Acres 0.28
Property Sub-Type Multi-Family 5+
Property Description
Turnkey 6-unit multifamily opportunity on Washington Street! This well-maintained property offers six studio-style units with strong in-place rents and solid tenants. Current monthly gross rent is $4,207, with three units rented at $680/mo, one at $340 every two weeks ($737/mo), one at $300 every two weeks ($650/mo), and one at $180/week (~$780/mo), totaling $50,484/year. Owner pays all utilities including gas, electric, water, sewer, and trash. Average monthly expenses are $588, and annual expenses are estimated at $7,056. Financials reflect a projected NOI of $43,428 with a cap rate of 12.77% at the $340,000 price point. Investors can expect an estimated 30.37% cash-on-cash return with 20% down, based on an annual cash flow of $20,651 after debt service. The property includes excellent off-street parking and is ideally located in a prime growth area, walkable to stores and public transportation. A strong, cash-flowing asset with minimal overhead and outstanding upside potential. No showings without an accepted offer. Do not disturb tenants
Location
State IN
County Marion
Zoning commercial
Rooms
Basement Storage Space, Unfinished
Interior
Heating Forced Air
Cooling None
Fireplace N
Exterior
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Building
Story Two
New Construction false
Schools
School District Indianapolis Public Schools
© 2025 Listings courtesy of MIBOR as distributed by MLS GRID. All Rights Reserved.