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802 Weghorst Street

Indianapolis, IN 46203

– beds
– baths
– sqft
5,184 sqft lot
1890 build

Exceptional Triplex Investment Opportunity in Fountain Square! Unlock the potential of this rare multi-family gem located in the heart of highly sought-after Fountain Square-one of Indianapolis' fastest-growing and most vibrant neighborhoods. This income-producing triplex offers a solid foundation for both seasoned investors and those looking to start or expand their portfolio. Each of the three 1-bedroom, 1-bath units delivers stable rental income, generating a Gross Operating Income (GOI) of $20,400 annually. While the seller currently covers all utilities, averaging approximately $3,884/year, and standard property taxes and insurance, there's ample room to improve cash flow by passing on utility expenses or increasing rents with future updates. Sitting proudly on a large corner lot, the property includes a fenced rear yard-ideal for tenants with pets or for added outdoor appeal-and a 2-car detached garage, offering extra value for storage or future rental potential. Though the building needs some TLC, it presents a fantastic value-add opportunity in a rapidly appreciating area. With its prime location, strong rental upside, and room for improvement, this triplex is a smart investment waiting for your vision.

Listing courtesy of MIBOR / Monteith-Legault Real Estate C

Last checked: Checking… • Last updated Jul 7, 2025 •

MLS# 22048345 —

The Building

Year Built:

1890
New Construction:

false
Construction Materials:

Aluminum Siding
Architectural Style:

Craftsman
Roof:

Asphalt, Shingle
Levels:

One and One Half
Basement:

true
Basement:

Cellar

Interior

Laundry Features:

Common Laundry

Location

Directions:

GPS Friendly
Latitude:

39.74696
Longitude:

-86.145774

The Property

View:

true
Property Type:

Residential Income
Property Subtype:

Triplex
Property Attached:

false
Parcel Number:

491113132013000101
Acres:

<1/4 Acre
Lot Features:

City Lot, Sidewalks, Mature Trees
Lot Size Acres:

0.12
Lot Size SqFt:

5,184 Sqft
Price Per Acre:

2291667
Additional Parcels:

false
Structure Type:

Triplex
Fencing:

Chain Link
Fence:

Yes
Current Use:

Residential
Road Access:

Frontage Road
Road Frontage Type:

City Street
Road Surface Type:

Asphalt

Listing Agent

Contact info:

Taxes

Tax Lot:

491113132013000101
Tax Year:

2024
Tax Exemptions:

None
Semi Annual Property Tax Amt:

1660

Heating & Cooling

Heating:

Forced Air, Natural Gas
Cooling:

Central Air, Window Unit(s)

Utilities

Building Utilities:

Sewer,Water
Solid Waste:

Yes

Schools

High School District:

Indianapolis Public Schools

The Community

Subdivision Name:

No Subdivision

Parking

Parking:

2 Car Garage,On Street
Parking Features:

Alley Access, Detached, On Street
Garage Spaces:

2

Extra Units

# of Units Total:

3

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Sale history

Date	Event	Source	Price	% Change
7/7/25 Jul 7, 2025	Listed / Active	MIBOR	$275,000

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This multifamily located in South Side Indianapolis, Indianapolis, IN 46203 is currently for sale for $275,000. 802 Weghorst Street is a – square foot multifamily with – beds and – baths. 802 Weghorst Street is in the South Side Indianapolis neighborhood of Indianapolis and has a WalkScore® of 59, making it somewhat walkable. This multifamily is in the attendance area of Arsenal Technical High School, Emmerich Manual High School, Riverside High School, James A. Garfield School 31, and George Washington Community High School.

Listing Courtesy of: MIBOR and Monteith-Legault Real Estate C.

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