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3614 E Washington Street, Indianapolis, IN 46201
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$315,000
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Home Details for 3614 E Washington Street
Price
$315,000
Type
Multi Family
Year Build
1925
Lot Size
0.28
County
Marion
Garage
1
MLS®️ Listing#
22045368
On exitrealty.com
149 days
Property Description
Turnkey 6-unit multifamily opportunity on Washington Street! This well-maintained property offers six studio-style units with strong in-place rents and solid tenants. Current monthly gross rent is $4,207, with three units rented at $680/mo, one at $340 every two weeks ($737/mo), one at $300 every two weeks ($650/mo), and one at $180/week (~$780/mo), totaling $50,484/year. Owner pays all utilities including gas, electric, water, sewer, and trash. Average monthly expenses are $588, and annual expenses are estimated at $7,056. Financials reflect a projected NOI of $43,428 with a cap rate of 12.77% at the $340,000 price point. Investors can expect an estimated 30.37% cash-on-cash return with 20% down, based on an annual cash flow of $20,651 after debt service. The property includes excellent off-street parking and is ideally located in a prime growth area, walkable to stores and public transportation. A strong, cash-flowing asset with minimal overhead and outstanding upside potential. No showings without an accepted offer. Do not disturb tenants
- Parking
- Detached
- Parking Lot
Listing Courtesy: Hanza Realty, LLC - 317-800-4438
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Last Updated: 2026-01-16 12:17:36
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Market statistics compiled from data from Metropolitan Indianapolis Board of REALTORS.
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$315,000
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EXIT STRATEGY REALTY
833 Lincoln Highway #410 E-5, Schererville, IN 43675