**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.
Pending
Price cut: $25K (6/30)
$525,000
1635 Central Ave, Indianapolis, IN 46202
2beds
1baths
--sqft
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
- 116 days
- 76
- 0
Zillow last checked:
Listing updated:
Listed by:
Emily Huskey emilyhuskey@kw.com,
Keller Williams Indy Metro Partners
Source: MIBOR as distributed by MLS GRID,MLS#: 22105508
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
Video & virtual tour
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: 96 days
- Tenant pays: Electricity, Other
- Road surface type: Asphalt
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/26/2026 | Pending sale | $525,000 |
Source: | ||
| 6/30/2026 | Price change | $525,000-4.5% |
Source: | ||
| 6/2/2026 | Listed for sale | $550,000-54.2% |
Source: | ||
| 4/23/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 4/16/2024 | Listed for rent | $895+15.5% |
Source: Zillow Rentals Report a problem | ||
| 3/28/2024 | Sold | $1,200,000-14.3% |
Source: | ||
| 2/15/2024 | Pending sale | $1,400,000 |
Source: | ||
| 2/8/2024 | Listed for sale | $1,400,000+5987% |
Source: | ||
| 3/28/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 2/13/2023 | Listed for rent | $775-2.5% |
Source: Zillow Rentals Report a problem | ||
| 1/12/2021 | Listing removed | -- |
Source: | ||
| 11/17/2020 | Listed for rent | $795 |
Source: Alpine Leasing #21752711 Report a problem | ||
| 6/29/2009 | Sold | $23,000 |
Source: | ||
Public tax history
| Year | Property taxes | Tax 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




