USAINIndianapolisState Plaza2008 / 2012 E Washington Street
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2008 / 2012 E Washington Street, Indianapolis, IN

House

For Sale

Listed price in listed location currency (USD).
$1,950,000

000

MLS® 22098301

  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size -
Garage 
Taxes 
Days Active 0
Lot Size 
Approx. Age 1910
MLS® Number 22098301

Property Address: 2008 / 2012 E Washington Street, Indianapolis, IN, 46201

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

Description

A 16-unit building bringing in $15, 910 a month with another $2, 890 sitting on the table once you fill the two vacant units. Two side-by-side 8-unit buildings at 2008 and 2012 E Washington, sold together as one package. Every unit is a one-bed, one-bath layout, fully renovated under current ownership. New flooring, fresh paint, updated fixtures, modern kitchens and bathrooms. Electronic locks on every door, so turnovers don't turn into a rekey project. Fourteen units are leased today. Rents run from $1, 060 to $1, 175, with most around $1, 130. Stabilized at $1, 175 across all 16, the property produces $18, 800 a month, or $225, 600 a year. Two of the eight units in 2008 are vacant and turn-ready. Lease them up and that upside is yours, no renovation required. The expense side is clean. Seventeen months of seller actuals show operating expenses averaging about $5, 041 a month, or just over $60, 000 a year. Insurance is one blanket policy across both buildings. Trash, pest, internet, and taxes are flat fixed costs. Maintenance ran a little hot in late 2025 while leaks were chased down, and that line is trending back to baseline now. At stabilized occupancy, expenses level out around $5, 216 a month and net operating income lands near $163, 000 before debt. Each building runs on two central HVAC systems, four across the package. Shared parking in the rear gives every tenant one space. Roof, electrical, plumbing, and HVAC were all inspected at acquisition and reports are available. East Washington is one of the more active corridors in Indianapolis right now. New businesses, real neighborhood investment, and quick access to downtown, Fountain Square, and Irvington. You're buying into the path of growth, not chasing it. Rent roll, profit and loss, and the full deal package are ready for qualified buyers.
MLS® Number22098301
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1910
Basement
Driveway
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Apr 28, 2026List Date
$1,950,000List Price
  • Commute

Commute

Starting Address
Destination Address
2008 / 2012 E Washington Street, Indianapolis, IN

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