Center Homes with Apartment Basement

Center Homes with Apartment Basement

Welcome to the vibrant heart of Indiana—Indianapolis, located in Marion County, where urban charm meets suburban tranquility! Known for its rich history, diverse culture, and thriving economy, Indianapolis offers a unique blend of attractions and amenities that make it a fantastic place to call home.

One of the standout features of homes in this region is the availability of properties with apartment-style basements. These versatile spaces are perfect for a variety of uses—whether you’re looking for a private suite for guests, a rental opportunity, or a cozy retreat for family gatherings. With the increasing demand for multi-functional living spaces, homes with apartment basements in Indianapolis are not just practical; they are a savvy investment for your future.

Indianapolis boasts a robust real estate market, with neighborhoods that cater to every lifestyle. From the bustling downtown area filled with trendy restaurants, shops, and cultural attractions, to the serene suburbs that offer parks, schools, and community events, there’s something for everyone. The city is also home to renowned institutions, including universities, hospitals, and major corporations, creating a dynamic job market and a vibrant community.

Whether you’re a first-time homebuyer or looking to expand your investment portfolio, the homes with apartment basements in Indianapolis present an exciting opportunity. Embrace the charm of this dynamic city, where your dream home awaits. Explore the possibilities and make Indianapolis your new home today!

Newest Center Homes with Apartment Basement

4609 English Avenue, Indianapolis
$219,900
Multiple family home. Two living spaces. Main level is tenant occupied until next May. 3 Bedrooms and 1 full bath with kitchen including all appliances and a washer and dryer. Hardwoods and updated living area. Lower level has concrete painted floors. One bedroom with an egress window, full kitchen (except no garbage disposal) and living space with storage too. Nice backyard and 1 car garage. Christian Park is right across the street. Walkable to schools close by and downtown is 10 minutes away. Newer roof and mechanicals. Price is great for a 4 bedroom, 2 full bath home. Local banks offering forgivable grants in this area. Come see it today!

4609 English Avenue, Indianapolis

Listing courtesy of Christi Coffey. F.C. Tucker Company
37 W Fall Creek Parkway South Drive, Indianapolis
$725,000
Rare investment opportunity in the Near Northside/Fall Creek Place corridor: a 1913 Craftsman fourplex with four legal units and 10 bedrooms across approximately 6,400 SF, already operating as a hybrid short-term rental and long-term primary residence with a potential cap rate approaching 9-10%. The main floor and full basement (7 bedrooms) run as an established, Superhost-rated Airbnb with a proven booking history - seller is offering a 3-6 month co-hosting transition so a buyer inherits the reviews and ranking rather than starting from zero. The upper floor is a spacious 3BD/2BA suite currently owner occupied. Original inlaid hardwood floors, tiled fireplaces, and custom millwork throughout, plus an original tile roof with a matching surplus of spare tiles included. Recent updates: full exterior repaint, all ~75 original windows and storm windows repaired, 2024 condenser replacement, HVAC service plans maintained on both systems, newer water heater/softener. Electric separately metered per unit. Off-street parking on two street frontages plus a one-car garage. Sold furnished, with the active short-term rental operation available to convey for a true turnkey opportunity. Buyer may also have the option to assume the seller's existing financing balance of 375k at 3% - a rate well below today's market - ask listing agent for details. Occupied; please do not disturb. Showings by appointment only.

37 W Fall Creek Parkway South Drive, Indianapolis

Listing courtesy of Alexander Foley. Liz Foley Real Estate, Inc.
3516 Salem Street, Indianapolis
$240,000
4 Beds ⋅ 3 Baths
Welcome to 3516 Salem Street in Indianapolis-a beautifully updated home offering a fantastic combination of modern improvements, flexible living space, and an incredibly convenient location just minutes from Downtown Indianapolis. The remodeled basement, completed in 2023, adds valuable additional living space and features a custom kitchen with stainless-steel appliances, custom cabinetry, and quartz countertops, along with a bedroom. The newly installed full bathroom is sure to impress and improves function. The finished basement also offers the potential for additional rental or income-producing use, with the seller estimating approximately $1,000 per month in potential income. Connections are already in place for a separate in-unit laundry setup. Additional improvements include new flooring installed in 2024, appliances purchased in 2023 that will remain with the home, a new privacy fence installed in 2023, and a new deck built in 2025-creating an inviting outdoor space for entertaining, relaxing, or enjoying the warmer months. Location is another major highlight. Situated approximately 6 minutes from Downtown Indianapolis, you'll have convenient access to restaurants, entertainment, sporting events, shopping, employment centers, and everything the city has to offer. Families will also appreciate the proximity to The Children's Museum of Indianapolis, located approximately half a mile away. Ownership of this home may have access to free annual passes to the children's museum if you apply. With thoughtful updates, a finished basement offering flexible possibilities, newer major improvements, and a prime Indianapolis location, 3516 Salem Street is a property that offers both immediate comfort and long-term potential. Come see everything this home has to offer!

3516 Salem Street, Indianapolis

Listing courtesy of Dennis Weaver. My Agent
3521 Guilford Avenue, Indianapolis
$269,900
4 Beds ⋅ 3 Baths
$5,000 grant and/or 100% financing available - some restrictions apply, inquire for details. 4 bedrooms plus an office, original hardwoods and wood trim, updated kitchen with new 2025 appliances, and a finished basement with egress, bonus room, and a second full kitchen - live in it, rent the lower level, or keep it all for yourself. Walkable to the Monon Trail and the Red Line, one block from Historic Watson Park, with easy access to downtown and Broad Ripple. New furnace 2026, new windows, french drain/dry well/sump pump (2021), 2-car garage plus driveway parking for 6, and a huge fenced backyard.

3521 Guilford Avenue, Indianapolis

Listing courtesy of Randy Wasmuth. Highgarden Real Estate
711 E 16th Street, Indianapolis
$565,000
3 Beds ⋅ 4 Baths
Amazing Townhome with Rooftop & 3 bed, 3.5 baths in the Old Northside part of Downtown Indy, right down the street from the Bottleworks district and two blocks off the Monon. Home features top of the line Appliances, Tons of cabinet space, island with bar top seating, Accent wall in the Kitchen, Remote operated Blinds on Main Floor and Custom blinds on 1st & 3rd floor bedrooms, Reverse Osmosis System, Tankless Hot Water System, Wi-Fi Thermostat and 1/2 main floor guest bath. Bottom Floor has large shoe cubby with bench/hooks built-in to wall plus coat closet and Bedroom complete with large closet, ensuite full bath and separate entrance/terrace. Kitchen Deck with Composite Decking, 2 car garage with Mobile App. 2 large Bdrms on 2nd floor both with ensuite baths and large walk-in closets. ROOFTOP with amazing views and outdoor lighting. Washer and Dryer incl. Home is currently operating as STR which can be turned over to next owners if they want to continue to operate. All furniture is very high quality and negotiable.

711 E 16th Street, Indianapolis

Listing courtesy of Jeffrey Boller. Vision One Real Estate
315 N Senate Avenue, Indianapolis
$2,900,000
Originally constructed in 1898 by local businessman Herman E. Martens, the building is a beautifully restored example of Classical Revival architecture, featuring unique pentagonal design elements, limestone detailing, and large bay windows. In the early 1990's the building was completely renovated and legally converted into 19 individual parcels. Martens HPR Unit #1 thru#19. The property was extensively renovated while preserving its historic character, offering residents a blend of vintage charm and modern convenience. The units have a combination of hardwood and vinyl flooring, new gourmet kitchens with stove, frig, microwave, dishwasher, disposal and granite/butcher block counters. Units have their own independent electric heat pumps for heating/cooling, electric water heater and 100-amp electric service. Today the building is operated as a 19-unit apartment house but could easily be converted to accommodate a multitude of investment opportunities. The building has nine-1 bedroom/one bathroom, one-1 bedroom/1.5 bathroom, eight- 2 bedroom/2 bathroom and one-2 bedroom/one bathroom. The buildings brick and limestone exterior, newer windows and updated electrical and plumbing keep maintenance cost low. Over the past few years, a new Firestone rubber membrane roof and two new Velux skylights have been installed. Situated near the intersection of Senate Avenue and Indiana Avenue, The Martens provides easy access to downtown Indianapolis attractions, cultural venues, restaurants, entertainment districts, and major employment centers. The building's central location within the Indianapolis Mile Square offer's easy access to both IU and Purdue's Indianapolis campuses (2 blocks to the west), Kroger's Grocery (1 block to the north), the Capitol Building (1 block to the south) and Lucas Oil Stadium (4 blocks to the south) The Martens offers a unique residential experience for those seeking historic character, a walkable downtown lifestyle in Indianapolis.

315 N Senate Avenue, Indianapolis

Listing courtesy of Taylor Kumler. Kumler Realty
3114 N Capitol, Indianapolis
$320,000
4 Beds ⋅ 4 Baths
Crafted by Mad River Homes, one of Indianapolis' respected renovation and building specialists, this north-side Downtown property blends quality, flexibility, and investment potential in a highly desirable location. Walk through the spacious front porch to arrive into the expansive foyer; where the whole home invites you in. The upstairs hosts the bedrooms and laundry, while the main level serves a perfect home for entertainment, formal dining, and preparing meals. Designed for versatility, this home features a layout that allows the upstairs and basement to be fully separated, creating an opportunity for an ADU or in-law suite. This configuration is ideal for a house-hack strategy, multi-generational living, or generating income from two distinct spaces. As an Airbnb, the upper unit could produce up to $3,500 per month and the lower unit up to $2,000. As a long-term rental, projected rents are approximately $2,000 upstairs and $1,000 downstairs. Mad River Homes also offers customization options tailored to your needs, including adding a garage. Perfect for entertaining, income generation, or providing separate living quarters; this property also qualifies for grant programs offering 0% down, no PMI, and a $5,000 credit toward closing costs. Just minutes from Butler University, Broad Ripple, Mass Ave, the Indianapolis Children's Museum, Eskenazi Hospital, Methodist Hospital, and IU Indianapolis, it offers immediate access to major educational, medical, and cultural anchors. Book your showing today and we look forward to calling this home yours!

3114 N Capitol, Indianapolis

Listing courtesy of Alexander Moore. FULL CANOPY REAL ESTATE, LLC
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Listings courtesy of MIBOR Broker Listing Cooperative as distributed by MLS GRID.


Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker of 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. Some listings have been excluded from this website.


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