REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Todd Burton • Berkshire Hathaway Home
$ 379,999
Est. payment /mo
Active
5115 Banbury RD Indianapolis, IN 46226
0.51 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Devington Acres
MLS Listing ID 22072412
Year Built 1960
Tax Year 2024
Lot Size 0.510 Acres
Acres 0.51
Property Sub-Type Quadruplex
Property Description
Income-Producing Quadplex Located in Marion County, this all-brick quadplex presents an outstanding value-add investment opportunity. Two of the four units are currently leased at 1,100 per month, providing immediate income, while the remaining two units are vacant and ready for rehab. This setup allows an investor to earn revenue from day one while renovating the vacant units to their own design, standards, and rent targets. The property sits on an expansive 21,998 square foot lot, offering potential for additional improvements and long-term growth. With solid brick construction and spacious layouts, the building provides a durable foundation for increasing rental income and overall property value. This property is well-positioned for tenant appeal, with easy access to major commuter routes, schools, shopping, and everyday conveniences. It's just minutes from downtown Indianapolis, making it an ideal location for renters seeking affordability and accessibility. For an investor seeking both immediate returns and future upside, this property checks all the boxes. The combination of existing leases, renovation potential, and location strength make this an excellent candidate for portfolio growth or 1031 exchange acquisition. This is a prime opportunity to acquire a stable income property with built-in upside-earn while you improve and set your rents to current market levels once renovations are complete. The two vacant units are available to view at any time. See the private remarks for showing instructions. UPDATE: The tenant in unit #1 is now in eviction status.
Location
State IN
County Marion
Zoning Residential
Rooms
Basement Unfinished
Interior
Fireplace N
Building
Architectural Style Traditional
New Construction false
Schools
School District Indianapolis Public Schools
© 2026 All listing information is courtesy of MIBOR Broker Listing Cooperative(R) as distributed by MLS Grid. All rights reserved.