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318 N Sherman Drive

Indianapolis, IN 46201

– beds
– baths
– sqft
3,180 sqft lot
1936 build

So many wonderful things about this income producing property! New electric throughout, all updated apartments in the last 2 years including new windows throughout most of the property (2 windows have not been replaced), new doors, paint and flooring as well as new kitchens, new furnaces in the last 4 years, new water heater in last 3 years. This continues to be a true income producing property, with two 1 bedroom apartments that rent at $950, and two efficiency apartments that rent at $900. This is a duplex that has been made into a four-plex of smaller units, please be aware that measurements are not deemed 100% accurate. Questions, please call! Agent is part owner of this property.

Listing courtesy of MIBOR / Keller Williams Indpls Metro N

Last checked: Checking… • Last updated Jul 16, 2025 •

MLS# 22049238 —

The Building

Year Built:

1936
New Construction:

false
Construction Materials:

Wood Siding
Architectural Style:

Bungalow
Roof:

Asphalt
Foundation Details:

Block, Full
Levels:

One
Basement:

true
Basement:

Unfinished
Exterior Features:

Lighting
Security Features:

Carbon Monoxide Detector(s), Fire Alarm, Smoke Alarm
Building Information:

Handicap Access
Gross Area SqFt:

3180

Interior

Laundry Features:

No Laundry Facil.

Location

Directions:

GPS Friendly
Latitude:

39.772649
Longitude:

-86.10239

The Property

View:

true
Property Type:

Residential Income
Property Subtype:

Quadruplex
Parcel Number:

491005133059000101
Acres:

<1/4 Acre
Lot Features:

Busline, City Lot, Corner Lot, Not In Subdivision, Sidewalks, Street Lights
Lot Size Acres:

0.07
Lot Size SqFt:

3,180 Sqft
Price Per Acre:

3571429
Property Condition:

Updated/Remodeled
Additional Parcels:

false
Structure Type:

Quadruplex
View:

false
Waterfront:

false
Fence:

No
Current Use:

Residential
Possible Use:

Residential
Road Access:

Frontage Road

Listing Agent

Contact info:

Taxes

Tax Lot:

40
Tax Year:

2024
Semi Annual Property Tax Amt:

717

The Listing

Inspection Warranties:

Not Applicable,See Remarks

Heating & Cooling

Heating:

Forced Air
Cooling:

Window Unit(s)

Utilities

Building Utilities:

Sewer,Water
Solid Waste:

No

Schools

High School District:

Indianapolis Public Schools

The Community

Subdivision Name:

Hartmans Add Robison & Voorhees

Parking

Parking:

2 Car Space
Parking Features:

Alley Access

Extra Units

# of Units Total:

4

Explore the Area

My Commute

From

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
7/16/25 Jul 16, 2025	Listed / Active	MIBOR	$250,000

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This multifamily located in East Side, Indianapolis, IN 46201 is currently for sale for $250,000. 318 N Sherman Drive is a – square foot multifamily with – beds and – baths. 318 N Sherman Drive is in the East Side neighborhood of Indianapolis. This multifamily is in the attendance area of Ralph Waldo Emerson School 58, George Washington Community High School, Arlington Middle School, Arsenal Technical High School, and Riverside High School.

Listing Courtesy of: MIBOR and Keller Williams Indpls Metro N.

IDX information is provided exclusively for consumers’ personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the 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 or may not be listed by the office/agent presenting the information.

Data is deemed reliable but is not guaranteed accurate by the Broker Listing Cooperative® listing service