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5222 E Washington Street, Indianapolis 5222 E Washington St 4 Unit Apartment Building $625,000 ($156,250/Unit) 8.47% Cap Rate Indianapolis, IN 46219
EXECUTIVE SUMMARY
Investor Alert! Don’t miss this rare, cash-flowing group home opportunity at 5222-5224 E Washington. Currently rented with 8 private tenants paying $200 per week, this property brings in $83,200 gross rent per year with low turnover costs. The owner has a waiting list, showing just how high the demand is for units like this.
The entire property has been completely renovated down to the studs in 2024 with all new mechanicals—4 furnaces, 4 water heaters, 4 condensers, plus brand-new electrical and plumbing systems throughout. Inside, you’ll find 8 private bedrooms, 4 full kitchens, and 4 bathrooms, providing ample space for residents and smooth operations for owners.
The entire property has been completely renovated down to the studs in 2024 with all new mechanicals—4 furnaces, 4 water heaters, 4 condensers, plus brand-new electrical and plumbing systems throughout. Inside, you’ll find 8 private bedrooms, 4 full kitchens, and 4 bathrooms, providing ample space for residents and smooth operations for owners.
PROPERTY FACTS
| Price | $625,000 | Apartment Style | Townhome |
| Price Per Unit | $156,250 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 8.47% | Building Size | 4,670 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1940/2024 |
| Zoning | D* - Current Zoning: D-8 (Dwelling District - 8 Units Per Acre) This allows for medium-density residential use, single-family, 2-family, and/or group home. | ||
| Price | $625,000 |
| Price Per Unit | $156,250 |
| Sale Type | Investment |
| Cap Rate | 8.47% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 4,670 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1940/2024 |
| Zoning | D* - Current Zoning: D-8 (Dwelling District - 8 Units Per Acre) This allows for medium-density residential use, single-family, 2-family, and/or group home. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
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Walk Score®
Very Walkable (71)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 49-10-03-150-026.000-701 | Improvements Assessment | $403,500 |
| Land Assessment | $9,200 | Total Assessment | $412,700 |
PROPERTY TAXES
Parcel Number
49-10-03-150-026.000-701
Land Assessment
$9,200
Improvements Assessment
$403,500
Total Assessment
$412,700
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5222 E Washington Street, Indianapolis | 5222 E Washington St
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