4948 W 16th St, Indianapolis, IN 46224

Ideal location in the heart of Speedway! A rare opportunity to own TURNKEY multi-family housing that is just a stone's throw away from the world-renowned IMS, where the Indianapolis 500 Race takes place every year. This wonderful duplex/double is within walking distance of historic Mainstreet, teeming with revitalized charm and vibrant energy, with an array of restaurants, bars, and shops. Both spacious sides of this double offer 3 levels including 2 large bedrooms, 1-1/5 Baths, a full basement and a shared 2 car garage. Very charming and 'Old Speedway-esque' with hardwood floors, arched doorways, glass doorknobs and more! Lots of updates include brand new windows and doors throughout, freshly painted exterior, two fairly new Heating and Cooling units. Investors and tenants alike will love the amount of storage in these units -plus the huge Basement with Laundry facilities (front has a newer washer and dryer), and both have a large walk in closet upstairs. The front side on 16th Street is recently remodeled and furnished for use as a short-term rental; currently rented on a lease that expires at the end of April 2024. That frees it up for next year's race! In the past, the front side has been a successful Air BNB. This is your chance to live in half and rent the other half out, or maximize your profits by renting out both sides. The backside lease expires in July next year. That gives you enough time and cashflow to get started on a small budget. In fact, this home can be financed with FHA, and homesteaded eventually. Speedway is a great town to live in with 5 Star Schools, and their own Police and Fire Departments.