$315,000
3614 E Washington Street
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
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Map to 3614 E Washington Street, Indianapolis, IN 46201
MLS #
22045368
Date Listed
2025-06-09
Status
Active
Property Type
Multi-Family/Apartments
Property SubType
Quadruplex
New Construction
No
Type
Quadruplex
Year Taxes Payable
2024
Year Built
1925
Days on Market
181
External Features
Construction
Quadruplex
Lot Size
12,000 sq ft
Acreage
0.28 Acres
Fence
None
Location
Area
Marion
County
Marion
Subdivision
Carter Sub Robson & Vorhees
Township
Center
City
Indianapolis
State
IN
Zip
46201
Schools
School District
Indianapolis Public Schools
Financial
Assoc. Dues
$0.00
| MLS # | 22045368 |
|---|---|
| Date Listed | 2025-06-09 |
| Status | Active |
| Property Type | Multi-Family/Apartments |
| Property SubType | Quadruplex |
| New Construction | No |
| Type | Quadruplex |
| Year Taxes Payable | 2024 |
| Year Built | 1925 |
| Days on Market | 181 |
| Construction | Quadruplex |
|---|---|
| Lot Size | 12,000 sq ft |
| Acreage | 0.28 Acres |
| Fence | None |
| Area | Marion |
|---|---|
| County | Marion |
| Subdivision | Carter Sub Robson & Vorhees |
| Township | Center |
| City | Indianapolis |
| State | IN |
| Zip | 46201 |
| School District | Indianapolis Public Schools |
|---|
| Assoc. Dues | $0.00 |
|---|
MLS# 22045368
IDX information provided by the MIBOR REALTOR® Association.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
Listing Provided Courtesy of Tasheana Hanza
Hanza Realty, LLC
tasheana@hanzarealty.com
Listing updated November 28, 2025 at 3:58 pm
Last checked 3 minutes ago
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