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Kade Koch

kade@kadekochrealty.com +1(317) 697-7953

Listed by Tasheana Hanza • Hanza Realty, LLC

$ 310,000

Est. payment -/mo

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Active

3614 E Washington ST Indianapolis, IN 46201

0.28 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Subdivision Carter Sub Robson & Vorhees

MLS Listing ID 22045368

Year Built 1925

Tax Year 2024

Lot Size 0.280 Acres

Acres 0.28

Property Sub-Type Quadruplex

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

Interior

Fireplace N

Exterior

Garage Spaces 1.0

Building

Story Two

New Construction false

Schools

School District Indianapolis Public Schools

SCHOOLSPROPERTIES

Elementary Schools 20

8

Paramount School of Excellence

Public | KG - 8
5

Christel House Academy South

Public | KG - 12
5

Indpls Lighthouse Charter School

Public | KG - 12
4

Theodore Potter School 74

Public | KG - 6
4

Frederick Douglass School 19

Public | PK - 8
3

William Mckinley School 39

Public | PK - 6
3

Christian Park School 82

Public | KG - 6
3

George W Julian School 57

Public | KG - 6
2

Thomas D. Gregg Elementary School 15

Public | PK - 6
2

Arlington Woods Elementary School

Public | KG - 6
2

Anna Brochhausen School 88

Public | PK - 6
1

Se Neighborhood School of Excellence

Public | KG - 7
1

Washington Irving School 14

Public | PK - 6
1

Francis Parker Montessori School 56

Public | PK - 8
1

Eleanor Skillen School 34

Public | KG - 6
1

Brookside School 54

Public | KG - 6
1

James Russell Lowell School 51

Public | PK - 6
1

Ralph Waldo Emerson School 58

Public | KG - 6
1

Paul I Miller School 114

Public | PK - 6
0

Center for Inquiry III

Public | PK - 7

Middle Schools 4

4

Beech Grove Middle School

Public | 7 - 8
1

H L Harshman Middle School

Public | 7 - 8
0

Longfellow Magnet Middle School

Public | 7 - 8
0

Thomas Carr Howe Community High School

Public | 7 - 12

High Schools 3

1

Arsenal Technical High School

Public | 9 - 12
0

Christel House Dors South

Public | 9 - 12
0

Scecina Memorial High School

Private | 9 - 12

School and business data provided by Attom Data.

Kade Koch

Broker Associate

+1(317) 697-7953

Kade Koch

3614 E Washington ST Indianapolis, IN 46201

Key Details

Location

Interior

Exterior

Building

Schools

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3614 E Washington ST