Homes for sale - 1131 Pleasant ST, Indianapolis, IN 46203

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BluPrint Real Estate Group

joinus@bluprintrealestategroup.com +1(317) 371-4412

Listed by Jennifer Blandford • Carpenter, REALTORS®

$ 350,000

Est. payment | -/mo

2,496 SqFt

Save

$ 350,000

Est. payment | -/mo

Save

2,496 SqFt

Key Details

Property Type Commercial

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 2,496 sqft

Price per Sqft $140

MLS Listing ID 22070674

Year Built 1965

Tax Year 2024

Lot Size 7,405 Sqft

Acres 0.17

Property Sub-Type Multi-Family 5+

Property Description

Do you hear that bellowing? That's the cash cow of 1129-1131 Pleasant St, calling out to its new owner! This 6-unit apartment building is tucked back off Shelby St, on a quiet street, in the shade of mature hardwoods, in the heart of Fountain Square, & is plum full of satisfied tenants who wish to stay right where they are, even through a transition in ownership. Generating $5100/mo in rental revenue (maybe more, as present rents are somewhat below FMV), the building features 2 spacious main-floor apartments (one w/ 2 BRs, and 1 w/ 1BR + a bonus room), as well as four 1BR efficiency apartments upstairs. This building looks good, lives easily, rents well & will make a NICE addition to any urban Indy portfolio. While the county records say the building was built in 1965, we suspect it was actually *converted* to multi-family in 1965, for many of its architectural features reflect a historic era, including the covered front porch, the fireplace mantels, traces of craftsman woodwork t/o & the soaring ceiling heights. The building has enjoyed many updates under the current ownership, including a new heat pump in 2019, many new windows (2020-2023) + various structural, mechanical & cosmetic updates to all the apartments in recent years. Behind the building is a large green space w/ an alley-load parking lot, and street-parking in the front is abundant & available for all. 5 of the 6 units are presently leased, the 6th has several applications in review right now. If you are going to check out this opportunity, note the local amenities nearby that make this building so appealing, such as public transportation & shops/restaurants/parks/employment w/in walking distance. DO NOT DISTURB THE TENANTS! **Reported size of the building & the apartments is approximate. Marion County says the building is 2156sf, but it looks & feels larger than that**

Location

State IN

County Marion

Zoning Commercial General

Rooms

Basement Cellar, Unfinished

Interior

Heating Zoned, Forced Air, Natural Gas, Heat Pump

Cooling Heat Pump, Window Unit(s)

Fireplace N

Exterior

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N false

Roof Type Asphalt

Building

Story 2

Structure Type Vinyl Siding

New Construction false

Schools

Elementary Schools William Mckinley School 39

Middle Schools Hw Longfellow Med/Stem Magnet Midl

High Schools Arsenal Technical High School

School District Indianapolis Public Schools

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(317) 371-4412

joinus@bluprintrealestategroup.com

8499 E US HWY 36, Avon, Indiana, 46123, USA

1131 Pleasant ST Indianapolis, IN 46203