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IDX information is provided exclusively for consumers' personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.
Based on information submitted to the Broker Listing Cooperative listing service as of October 24, 2026 at 4:00 AM EDT. All data is obtained from various sources and may not have been verified by broker or Broker Listing Cooperative listing service. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Based on information submitted to the MLS GRID as of October 24, 2026 at 4:00 AM EDT. 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 or may not be listed by the office/agent presenting the information.
1340 N Park Avenue
Indianapolis, IN
$1,599,900
Indianapolis, IN 46202
MLS# MBR22133059
Listed 1 day ago
FIVE UNIT INVESTMENT BRINGING IN $13,100/MONTH - ALMOST FULLY LEASED, TURNKEY, AND POSITIONED FOR LONG-TERM APPRECIATION.$1340 North Park Avenue is a heavily updated five-unit building in the heart of the Old Northside, one of Indianapolis' most historic, walkable, & consistently appreciating neighborhoods. Producing $13,100 in monthly income, ($157,200 annually), this stabilized asset delivers immediate cash flow with strong tenant demand & minimal operation lift. Each spacious residence offers two bedrooms & two bathrooms with updated kitchens, refreshed bathrooms, modern layouts, & in-unit laundry hookups. The penthouse stands out with a private rooftop deck & downtown views, while all residents benefit from assigned off-street parking - amenities that continue to support premium rents & retention. This is not a "chase yield" property - it is a wealth preservation & appreciation play. Assets like this are typically acquired by investors who prioritize location, tenant quality, & long-term equity growth over short-term returns. The building is four-fifths occupied, creating dependable income from day one, with additional upside through future rent growth & expense optimization. Situated just minutes from the Bottleworks District, tenants enjoy some of the city's best dining, entertainment, & boutique retail, reinforcing the area's desirability & 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 North Park Avenue represents a rare opportunity to acquire a clean, high-performing property in a premiere Indianapolis location!
Estimate principal and interest for this listing.
$319,980
Estimated monthly payment
$8,090/mo
Estimate only — not MLS listing data. Does not include taxes, insurance, or other costs. Rates change daily.
Listed by @properties with Tyler Lingle. Contact tyler@tylerlingle.com.