Indianapolis, IN 46201,3614 E Washington ST
Indianapolis, IN 46201,3614 E Washington ST
Indianapolis, IN 46201,3614 E Washington ST
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Jake Stiles, CLHMS

Jake Stiles, CLHMS

+1(317) 201-4092
Listed by Tasheana Hanza • Hanza Realty, LLC
$310,000
Est. payment /mo
2,288 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 2,288 sqft

Price per Sqft $135

MLS Listing ID 22042720

Year Built 1925

Tax Year 2024

Lot Size 0.280 Acres

Acres 0.28

Property Sub-Type Multi-Family 5+

Property Description

Turnkey 6-unit multifamily investment opportunity on Washington Street! This well-maintained property features six studio-style units with strong in-place rents and reliable tenants. Current gross rental income is $4,207/month or $50,484/year, with three units rented at $680/month, one at $340 every two weeks ($737/month), one at $300 every two weeks ($650/month), and one at $180/week (~$780/month). The owner pays all utilities, including gas, electric, water, sewer, and trash, with average monthly expenses of just $588 and estimated annual expenses of $7,056. Financials project a net operating income of $43,428, delivering a cap rate of 12.77% at the $340,000 price point. With 20% down, investors can expect an impressive 30.37% cash-on-cash return, based on an estimated annual cash flow of $20,651 after debt service. The property offers off-street parking and is ideally situated in a high-growth corridor, walkable to retail, restaurants, and public transit. With minimal overhead, steady cash flow, and clear value in place, this is a rare opportunity to secure a high-yield asset in a rapidly appreciating area. No showings without an accepted offer. Please do not disturb tenants.

Location

State IN

County Marion

Zoning commercial

Rooms

Basement Storage Space, Unfinished

Interior

Heating Forced Air

Cooling None

Fireplace N

Exterior

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Building

Story Two

New Construction false

Schools

School District Indianapolis Public Schools

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MIBOR MLS
© 2026 All listing information is courtesy of MIBOR Broker Listing Cooperative(R) as distributed by MLS Grid. All rights reserved.

NEARBY SCHOOL & BUSINESS

SCHOOLS PROPERTIES
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.

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Jake Stiles, CLHMS

Jake Stiles, CLHMS

+1(317) 201-4092

Broker | RB14032222

Broker RB14032222

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3614 E Washington ST

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