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… Read More ($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. Read Less
Courtesy of @properties.
Listing Snapshot
Days Online
171
Last Updated
Property Type
Multi-Family 5+
Lot Size
0.33 Acres
Year Built
1890
MLS Number
22075708
30 Days Snapshot Of 46202
$476k
-3%
(avg) sold price
31
+34%
homes sold
89
-32%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area: 0, Construction Materials: "Brick", Year Built: 1890
Cooling
Details: "Ductless", "Heat Pump"
Fence
Description: "Front Yard"
Garage
Garage Spaces: 4
Heating
Heating: "Heat Pump"
Lot
Acres: 0.33, MLS Acres: 1/4-1/2 Acre
Property
Zoning: D8
Utilities
Utilities: "Natural Gas Connected", "Sewer Connected", "Water Connected"
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
Listings courtesy of MIBOR Broker Listing Cooperative as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.