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3614 E Washington Street

Indianapolis, IN 46201

– beds
– baths
– sqft
12,000 sqft lot
1925 build

Turnkey 6-unit multifamily opportunity on Washington Street! This well-maintained property offers six studio-style units with strong in-place rents and solid tenants. Current monthly gross rent is $4,207, with three units rented at $680/mo, one at $340 every two weeks ($737/mo), one at $300 every two weeks ($650/mo), and one at $180/week (~$780/mo), totaling $50,484/year. Owner pays all utilities including gas, electric, water, sewer, and trash. Average monthly expenses are $588, and annual expenses are estimated at $7,056. Financials reflect a projected NOI of $43,428 with a cap rate of 12.77% at the $340,000 price point. Investors can expect an estimated 30.37% cash-on-cash return with 20% down, based on an annual cash flow of $20,651 after debt service. The property includes excellent off-street parking and is ideally located in a prime growth area, walkable to stores and public transportation. A strong, cash-flowing asset with minimal overhead and outstanding upside potential. No showings without an accepted offer. Do not disturb tenants

Listing courtesy of MIBOR / Hanza Realty, LLC

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

MLS# 22045368 —

The Building

Year Built:

1925
New Construction:

false
Levels:

Two
Basement:

true
Green Certification:

No

Location

Directions:

GPS Friendly
Latitude:

39.769383
Longitude:

-86.104287

The Property

View:

true
Property Type:

Residential Income
Property Subtype:

Fourplex
Parcel Number:

491005103003000101
Acres:

1/4-1/2 Acre
Lot Size Acres:

0.28
Lot Size SqFt:

12,000 Sqft
Price Per Acre:

1214286
Current Use:

Residential
Road Access:

See Remarks

Listing Agent

Contact info:

Taxes

Tax Lot:

1
Tax Year:

2024
Semi Annual Property Tax Amt:

1472

Utilities

Solid Waste:

Yes

Schools

High School District:

Indianapolis Public Schools

The Community

Subdivision Name:

Carter Sub Robson & Vorhees

Parking

Parking:

Parking Lot
Parking Features:

Detached
Garage Spaces:

1

Extra Units

# of Units Total:

6

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
6/16/25 Jun 16, 2025	Listed / Active	MIBOR	$340,000	151.9% (33.6% / YR)
12/8/20 Dec 8, 2020		MIBOR	$135,000	43.8% (2.4% / YR)
6/24/02 Jun 24, 2002		MIBOR	$93,900

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This multifamily located in East Side, Indianapolis, IN 46201 is currently for sale for $340,000. 3614 E Washington Street is a – square foot multifamily with – beds and – baths. 3614 E Washington Street is in the East Side neighborhood of Indianapolis and has a WalkScore® of 52, making it somewhat walkable. This multifamily is in the attendance area of Arsenal Technical High School, Ralph Waldo Emerson School 58, George Washington Community High School, Riverside High School, and Arlington Middle School.

Listing Courtesy of: MIBOR and Hanza Realty, LLC.

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