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  • Price cut: $25K (6/30)
    $525,000

    1635 Central Ave, Indianapolis, IN 46202

    2beds
    1baths
    --sqft
    : 
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    Multi Family, Quadruplex, Apartment
    Built in 1930
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Central airAll brick buildingsCoin operated laundry unitsLots of natural light
    **Multiple offers received, highest and best was due 7/6. Pending home sale contingency** Located at the intersection of the highly desirable Herron Morton and Old Northside neighborhoods, AND in a designated Opportunity Zone, this property offers a prime opportunity for experienced landlords, or investors entering the multifamily market. The FULL complex consists of three all brick buildings, four units each. THIS LISTING is for ONE of the buildings (4 units). Buildings can be purchased together as a 12 unit complex, or split into four plexes. Each building already has its own parcel number and legal description. (See BLC#22103331 for commercial listing which includes ALL 12 UNITS.) Each unit features a spacious two bedroom, one bath layout with lots of natural light. Units are currently leased for $895-$995 per month. All leases will renew at $995. With a fantastic 95% occupancy rate maintained over the past several years, this proven income-producing asset delivers consistent cash flow, long term stability, and strong investment potential. Inquire for rent roll, expenses, and utilities. Residents pay their own electric; all units are individually metered. No gas. Owner pays water, sewer, & common area electric bills, and residents pay $50/month for utilities on top of rents listed above. Residents with pets pay additional $25/month. Each unit has its own furnace, central air, and water heater. Refrigerators and ovens in each unit. Coin operated laundry units and more storage in the basements of each building. Water heaters are located in basements. All units share one large trash dumpster in the alley. Current lease rates and dates by request. One unit is recently vacant and available for showings. (Other units can be accessed upon accepted offer.) Current property management company is willing to continue management.
    42 days
    |
    653
    |
    46
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Emily Huskey 573-465-1108,

    Keller Williams Indy Metro Partners

    Source: MIBOR as distributed by MLS GRID,MLS#: 22105508MLS Logo

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 1
      • Main level bathrooms: 8
      Heating
      • Electric, Forced Air
      Cooling
      • Central Air
      Appliances
      • Laundry: In Basement
      Features
      • Basement: Daylight,Storage Space,Unfinished

      Property

      Parking
      • Details: Unit Parking(On Street)
      Features
      • Levels: Two
      • Stories: 2
      Lot
      • Size: 5,227 Square Feet
      • Features: Sidewalks, Street Lights, Mature Trees, Trees-Small (Under 20 Ft)
      Details
      • Additional parcels included: Lots 1, 2, & 3
      • Parcel number: 490636145012000101
      • Zoning: ZO01

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Multi Family, Quadruplex, Apartment
      • Attached to another structure: Yes
      Materials
      • Brick
      Condition
      • New construction: No
      • Year built: 1930

      Community & HOA

      Community
      • Security: Smoke Detector(s)
      • Subdivision: Ritters Sub Johnson
      Location
      • Region: Indianapolis

      Financial & listing details

      • Tax assessed value: $381,000
      • Annual tax amount: $9,036
      • Date on market: 6/2/2026
      • Cumulative days on market: 44 days
      • Tenant pays: Electricity, Other
      • Road surface type: Asphalt

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        6/30/2026Price change$525,000-4.5%
        Source: MIBOR as distributed by MLS GRID #22105508 Report a problem
        6/2/2026Listed for sale$550,000-54.2%
        Source: MIBOR as distributed by MLS GRID #22105508 Report a problem
        4/23/2024Listing removed--
        Source: Zillow Rentals Report a problem
        4/16/2024Listed for rent$895+15.5%
        Source: Zillow Rentals Report a problem
        3/28/2024Sold$1,200,000-14.3%
        Source: MIBOR as distributed by MLS GRID #21962939 Report a problem
        2/15/2024Pending sale$1,400,000
        Source: MIBOR as distributed by MLS GRID #21962939 Report a problem
        2/8/2024Listed for sale$1,400,000+5987%
        Source: MIBOR as distributed by MLS GRID #21962939 Report a problem
        3/28/2023Listing removed--
        Source: Zillow Rentals Report a problem
        2/13/2023Listed for rent$775-2.5%
        Source: Zillow Rentals Report a problem
        1/12/2021Listing removed--
        Source: MIBOR as distributed by MLS GRID Report a problem
        11/17/2020Listed for rent$795
        Source: Alpine Leasing #21752711 Report a problem
        6/29/2009Sold$23,000
        Source: MIBOR as distributed by MLS GRID #2904422 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$9,036 +71.8%$381,000 +0.1%
        2024$5,259 +10.6%$380,800 +71.8%
        2023$4,753 +9.9%$221,700 +10.1%
        2022$4,323 -0.4%$201,300 +7.4%
        2021$4,340 -7.6%$187,400
        2020$4,698 -0.9%$187,400 -5.8%
        2019$4,741 +15.8%$199,000
        2018$4,094 +5.7%$199,000 +3.2%
        2017$3,874 +124.1%$192,800 +5%
        2016$1,729 +146.8%$183,700 +467%
        2014$701 -17.4%$32,400 -0.3%
        2013$848 $32,500 -47.8%
        2012$848 $62,300 +107.7%
        2011-- $30,000 -52.4%
        2010$1,496 -0.3%$63,000
        2009$1,500 $63,000
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: Near Northside

        Getting around

        81 / 100
        Very Walkable
        49 / 100
        Some Transit
        71 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating

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