1340 N Park Avenue, Indianapolis, IN 46202

Property Description

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!