Exceptional investor opportunity with immediate income and significant upside in the heart of Mapleton-Fall Creek! This 1910 side-by-side duplex offers a turnkey, cash-flowing asset priced more than $100K below its recent purchase price for an expedited sale. Each mirrored 3BR/1.5BA unit offers approximately 1,700 sq ft across multiple levels, featuring… Read More spacious open-concept main floors with high ceilings, decorative fireplaces, upper-level laundry, full unfinished basements, third-floor bonus/flex rooms, and a rare attached garage. Cosmetically updated in 2022, including kitchens, baths, flooring, and more, the property is fully occupied with tenant-paid utilities and leases running into mid-to-late 2027. Currently professionally managed by Polaris for a seamless transition, both units rent for $1,095/month-well below market, with Rentometer showing 3BR rents in this pocket can exceed $1,900/month. Additional value-add potential exists by adding central AC to the existing ductwork, which could further boost rent, tenant appeal, and property value. While the roof, furnaces, and water heaters are older, all are functioning properly with no known issues; the 3104 water heater is approximately 5 years old. Positioned in a high-demand D-8 zone between Downtown and Broad Ripple, tenants enjoy convenient access to IU Health, 16 Tech, the Monon Trail, State Fairgrounds, Newfields, Butler & Marian College, the Children's Museum, and more. This is a compelling multifamily asset with strong tenant appeal, immediate cash flow, below-market rents, and long-term upside, making it the perfect portfolio builder. Property is being sold as-is. Read Less
Courtesy of Keller Williams Indpls Metro N, 317-450-9202.
Listing Snapshot
Days Online
24
Last Updated
Property Type
Duplex
Lot Size
0.08 Acres
Year Built
1910
MLS Number
22112664
30 Days Snapshot Of 46205
$376k
0%
(avg) sold price
35
-31%
homes sold
60
-28%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Description: Unfinished
Building
Architecture: Traditional, Construction Materials: Vinyl With Brick, Levels: Three Or More, Year Built: 1910
Cooling
Details: None, Window Unit(s)
Garage
Garage Spaces: 1
Heating
Heating: Forced Air
Laundry
Description: Connections All, Laundry Room, Upper Level
Lot
Acres: 0.08, MLS Acres: <1/4 Acre
Roof
Description: Asphalt
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The data relating to real estate for sale on this website comes courtesy of MIBOR REALTOR® Association as distributed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.”
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