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3178 N Capitol Ave
Indianapolis, IN 46208
Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
- Renovated Asset: New interior finishes, siding, and other capital improvements have allowed ownership to capture 10% rent growth on new leases
- Proximity to Indy’s Major Developments: Located less than 2 miles from IU Health’s new campus and less than 4 miles from 16 Tech
- Efficient Unit Mix for Urban Housing: The 5-unit layout maximizes the site on a revenue per square foot basis
- Proximity to I-65: Less than one mile from the interstate, offering convenience in commuting for residents
EXECUTIVE SUMMARY
Introducing 3178 N Capitol Avenue, a 5-unit multifamily asset located in the growing Near Northside corridor of Indianapolis. The property has undergone meaningful capital improvements within the last year including new windows, new siding, new interior finishes throughout units, new cabinets, kitchen islands, appliances, drywall, floors, and trim. Renovations have allowed rental increases of 10% on new leases. This asset is well positioned for an investor seeking stabilized cash flow in a rapidly revitalizing pocket of Indianapolis. It is located 1.7 miles from the new IU Health Hospital and 3.2 miles from the 16 Tech District. These nearby institutional investments are set to spurn long-term neighborhood redevelopment momentum.
Discover the thriving neighborhood surrounding 3178 N Capital in Indianapolis, IN, an ideal location for a prospective Multifamily investor. The area boasts a vibrant cultural scene, with nearby attractions like the Indianapolis Museum of Art, White River State Park, and the Indianapolis Zoo. Residents can enjoy easy access to local dining, shopping, and entertainment options, as well as proximity to downtown Indianapolis, with its bustling business district and renowned dining and nightlife. With excellent transportation links and a strong sense of community, this location offers an exciting opportunity for investors looking to capitalize on the dynamic Indianapolis real estate market.
Discover the thriving neighborhood surrounding 3178 N Capital in Indianapolis, IN, an ideal location for a prospective Multifamily investor. The area boasts a vibrant cultural scene, with nearby attractions like the Indianapolis Museum of Art, White River State Park, and the Indianapolis Zoo. Residents can enjoy easy access to local dining, shopping, and entertainment options, as well as proximity to downtown Indianapolis, with its bustling business district and renowned dining and nightlife. With excellent transportation links and a strong sense of community, this location offers an exciting opportunity for investors looking to capitalize on the dynamic Indianapolis real estate market.
PROPERTY FACTS
| Price Per Unit | $90,000 | Apartment Style | Single-Family Home |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.29% | Lot Size | 0.12 AC |
| No. Units | 5 | Building Size | 2,200 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1925 |
| Zoning | ZO01 - D-8 | ||
| Price Per Unit | $90,000 |
| Sale Type | Investment |
| Cap Rate | 8.29% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,200 SF |
| No. Stories | 1 |
| Year Built | 1925 |
| Zoning | ZO01 - D-8 |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | - | 1,100 |
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