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Listed price in listed location currency (USD).
$1,699,999

000

MLS® 22075803

  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size -
Garage No
Taxes 
Days Active 96
Lot Size 0.33 acres
Approx. Age 1890
MLS® Number 22075803

Property Address: 1340 Park Ave, Indianapolis, IN, 46202-2641

Average square foot calculated using Size range provided by listing agent.

Description

5 UNIT INVESTMENT BRINGING IN $13, 100 A MONTH - FULLY LEASED, TURNKEY, AND POSITIONED FOR LONG-TERM APPRECIATION. 1340 N Park Ave is a heavily updated five-unit building located in the heart of the Old Northside, one of Indianapolis' most historic, walkable, and consistently appreciating neighborhoods. Producing $13, 100 in monthly income ($157, 200 annually), this stabilized asset delivers immediate cash flow with strong tenant demand and minimal operational lift. Each spacious residence offers two bedrooms and two bathrooms with updated kitchens, refreshed baths, modern layouts, and in-unit laundry hookups. The penthouse stands out with a private rooftop deck and downtown views, while all residents benefit from assigned off-street parking - amenities that continue to support premium rents and retention. This is not a "chase yield" property - it is a wealth preservation and appreciation play. Assets like this are typically acquired by investors who prioritize location, tenant quality, and long-term equity growth over short-term returns. The building is 100% occupied, creating dependable income from day one, with additional upside through future rent growth and expense optimization. Situated just minutes from the Bottleworks District, tenants enjoy some of the city's best dining, entertainment, and boutique retail, reinforcing the area's desirability and long-term value. Ideal for a 1031 exchange buyer, high-income professional, or portfolio investor looking to anchor their holdings with a blue-chip multifamily asset, 1340 N Park Ave represents a rare opportunity to acquire a clean, high-performing property in a premier Indianapolis location.
MLS® Number22075803
Laundry Level
Central VacNo
FireplaceNo
Acreage0.33
Exterior
GarageNo
Approx. Age1890
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Dec 4, 2025List Date
$1,699,999List Price
  • Commute

Commute

Starting Address
Destination Address
1340 Park Ave, Indianapolis, IN

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