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Listed by Peter Stewart • Keller Williams Indpls Metro N
$ 300,000
Est. payment /mo
Pending
4826 E Michigan ST Indianapolis, IN 46201
4,356 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Pending
Purchase Type For Sale
Subdivision Emerson Heights
MLS Listing ID 22076946
Year Built 1920
Tax Year 2024
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Triplex
Property Description
INVESTOR ALERT!! Located on a prominent corner lot in the Emerson Heights neighborhood, 4826 E Michigan St offers a strong, turnkey triplex opportunity in a stable yet appreciating near-eastside submarket. This townhome-style property features three spacious units, each approximately 925 sq ft, providing a desirable layout for long-term tenants. Unit one is a 2BR/1BA leased at $1,000/month through 7/31/26 with tenants paying electricity. Unit two is a 3BR/1BA leased at $1,150/month through 3/31/26, with tenants reimbursing $75/month for water. Unit three is a 2BR/1BA leased at $950/month through 9/30/26 and also reimburses $75/month for water. Electricity is separately metered and paid by tenants, supporting efficient operating expenses. With gross rents of $3,100 per month-well over the 1% rule-this property delivers immediate cash flow from day one, with additional upside as the surrounding area continues to improve. Emerson Heights sits adjacent to Historic Irvington and is less than 10 minutes from downtown Indianapolis, offering both stability and appreciation potential. Tenants enjoy walkable access to Ellenberger Park and a nearby 10th Street retail strip featuring Kroger, CVS, banking, dining, and other daily conveniences. Currently under professional management by Triple E Property Management, with the option to continue services for a seamless transition, this is an ideal acquisition for investors seeking a low-maintenance, income-producing asset in a proven Indianapolis location.
Location
State IN
County Marion
Zoning residential
Rooms
Basement Unfinished
Interior
Fireplace N
Exterior
View Y/N false
Roof Type Asphalt
Building
Story Two
Architectural Style Traditional
Structure Type Aluminum Siding
New Construction false
Schools
School District Indianapolis Public Schools
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