4825 Melrose Avenue
Indianapolis, IN 46241
Map
- – beds
- – baths
- – sqft
- 9,584 sqft lot
CALLING ALL INVESTORS! Here is a Great Opportunity for a double lot in Drexel Gardens! This double lot provides ample opportunity for someone looking to build not just one but two possible homes. This lot can be kept as one large corner lot OR split into two if someone so desires! The split would provide two .11/acre lots that are easily buildable and a chance to maximize your return on investment! The corner lot with the garage had a house on it at one time and is connected to city utilities so it's ready to go and has a brand new garage door on it as well. Purchase will come with TWO sets of build plans for you to use if you wish. Why pay for new plans when these are at your disposal!? Located near all the major highways (I65, I69, I70, I74 & I465) this location is PRIME!! It's only 10-15 Minutes from: The Indianapolis International Airport, The Indianapolis Motor Speedway, Lucas Oil Stadium, Gainbridge Fieldhouse, Downtown Indy's Circle Center, Eagle Creek Reservoir and more! Once the house(s) are built, there could be year round short term rental revenue for events such as The Indianapolis 500, Brickyard 400, All Colts Games, All Pacer games, GenCon, Boat Sport & Travel shows, etc...Indy has conventions all year long and is known to be a great Host City. Why not build close to all the action?! Set up your showing today and let's make a deal happen!
Last checked:
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Checking…
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Last updated Jul 8, 2025
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MLS# 22040254 —
The Building
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New Construction:false
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Development Status:Finished Lot(s)
Location
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Directions:GPS Friendly
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Latitude:39.739875
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Longitude:-86.241108
The Property
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View:true
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Property Type:Land
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Property Subtype:Residential Lots
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Parcel Number:491118113223000900
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Acres:<1/4 Acre
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# of Lots:2
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Lot Features:Corner Lot
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Lot Size Acres:0.22
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Lot Size SqFt:9,584 Sqft
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Price Per Acre:445441
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Type:Undeveloped,See Remarks
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Divisible:Yes
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Zoning:Residential
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Present Zoning:Single Family
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Topography:Cleared,Level
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Land Characteristics:Corner
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Additional Parcels:false
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Horse Amenities:None
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Fence:No
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Soil Type:Other
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Road Access:Street Cuts
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Road Frontage Type:City Street
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Road Surface Type:Asphalt
Listing Agent
- Contact info:
- Agent phone:
- (317) 735-8345
- Office phone:
- (317) 259-6000
Taxes
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Tax Lot:491118113223000900
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Tax Year:2024
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Tax Exemptions:None
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Semi Annual Property Tax Amt:549
The Listing
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Virtual Tour Branded:
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Virtual Tour Unbranded:
Utilities
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Water:Municipal Water on Site
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Water Source:Public
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Sewer:Public Sewer
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Solid Waste:Yes
Schools
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High School District:Indianapolis Public Schools
The Community
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Subdivision Name:Drexel Gardens
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Facilities On:Electric,Gas,Water & Sewer
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Facilities Near:Not Applicable
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Association:false
Extra Units
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Other Structures:See Remarks, Other
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/8/25
Jul 8, 2025
|
Listed / Active | MIBOR | $97,997 |
