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Lorie Blythe

lorie@thestewarthomegroup.com +1(317) 501-2298

Listed by Ashley Mullin • FS Houses LLC

$ 384,000

Est. payment | -/mo

2,774 SqFt

Save

$ 384,000

Est. payment | -/mo

Save

2,774 SqFt

Key Details

Property Type Commercial

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 2,774 sqft

Price per Sqft $138

MLS Listing ID 22117375

Year Built 1921

Tax Year 2025

Lot Size 6,534 Sqft

Acres 0.15

Property Sub-Type Multi-Family 5+

Property Description

1515 E Michigan St is a well-maintained 5-unit multifamily investment opportunity located just minutes from downtown Indianapolis. The property sits in a strong rental corridor near Holy Cross, Arsenal Heights, Cottage Home, and the Mass Ave corridor, with continued residential and commercial development throughout the surrounding area. The front building consists of four units, with a fifth unit created from a converted garage, offering a functional and efficient unit mix attractive to long-term tenants. The current owner has consistently maintained the property during their ownership, supporting stable operations and long-term tenant retention. The property is primarily tenant-occupied with two units currently available for immediate showings, offering flexibility for investors or owner-occupants. Strong rental demand and convenient access to downtown, major thoroughfares, and neighborhood amenities support long-term performance.

Location

State IN

County Marion

Zoning MU1

Rooms

Basement Unfinished

Interior

Heating Forced Air, Natural Gas

Cooling Window Unit(s)

Fireplace N

Exterior

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

Building

Story Two

New Construction false

Schools

Elementary Schools Washington Irving Neighborhood School

Middle Schools H L Harshman Middle School

High Schools Arsenal Technical High School

School District Indianapolis Public Schools

Nearby Locations

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Lorie Blythe

REALTOR® Lic# RB18001966

lorie@thestewarthomegroup.com

+1(317) 501-2298

7 W High St, Mooresville, IN 46158, USA

1515 E Michigan ST Indianapolis, IN 46201

Lorie Blythe

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

1515 E Michigan ST