Rare value-add opportunity in Indianapolis with 4 bedrooms, 2 bathrooms, 2,646 square feet, and three parcels, including an additional vacant lot with room for a garage. This property offers investors flexibility for a single-family renovation or potential duplex conversion. 📈
Property Condition: Full rehab opportunity.
🔧 Property Features:
- 4 bedrooms
- 2 bathrooms
- 2,646 SF
- Unfinished basement
- Three total parcels
- Potential duplex configuration
- Kitchen on both levels
- Roof – Approximately 7 years old
- Furnace – Approximately 6 years old
- Air Conditioner – Approximately 6 years old
- Water Heater – Approximately 6 years old
- Windows – Approximately 7 years old downstairs; 1 month old upstairs
- Crawl-space/basement foundation
- City water and sewer
- Citizens gas
- AES electric
💰 Investment Highlights:
This property provides multiple possibilities for investors. Keep it as a single-family home, utilize the existing upstairs kitchen to create an additional bedroom, or explore the property’s potential duplex configuration. The three parcels also provide additional flexibility, including a vacant lot that may be large enough for a garage.
📈 Nearby Comparable Sales:
- 4062 Rookwood Ave – 3 Bed / 1.5 Bath, 1,792 SF – Sold for $300,000 (Cash, 1 DOM)
- 3936 Graceland Ave – 4 Bed / 2.5 Bath, 1,970 SF – Sold for $330,000
- 4047 Boulevard Pl – Duplex, 3 Bed / 1 Bath + 2 Bed / 1 Bath, 1,856 SF – Sold for $350,000 (30 DOM)
- 505 W 40th St – Duplex, 3 Bed / 1 Bath + 3 Bed / 1.5 Bath, 2,496 SF – Sold for $150,000 (Cash, As-Is)
- 422 W 40th St – 5 Bed / 3.5 Bath, 3,340 SF – Sold for $437,000 (30 DOM)
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