Pending

3102 Central Avenue

Indianapolis, IN 46205
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Bed 0

Bed

Bath 0

Bath

Acres0.08

Acre(Lot)

Exceptional investor opportunity with immediate income and significant upside in the heart of Mapleton-Fall Creek! This 1910 side-by-side duplex offers a turnkey, cash-flowing asset priced more than $100K below its recent purchase price for an expedited sale. Each mirrored 3BR/1.5BA unit offers approximately 1,700 sq ft across multiple levels, featuring spacious open-concept main floors with high ceilings, decorative fireplaces, upper-level laundry, full unfinished basements, third-floor bonus/flex rooms, and a rare attached garage. Cosmetically updated in 2022, including kitchens, baths, flooring, and more, the property is fully occupied with tenant-paid utilities and leases running into mid-to-late 2027. Currently professionally managed by Polaris for a seamless transition, both units re nt for $1,095/month-well below market, with Rentometer showing 3BR rents in this pocket can exceed $1,900/month. Additional value-add potential exists by adding central AC to the existing ductwork, which could further boost rent, tenant appeal, and property value. While the roof, furnaces, and water heaters are older, all are functioning properly with no known issues; the 3104 water heater is approximately 5 years old. Positioned in a high-demand D-8 zone between Downtown and Broad Ripple, tenants enjoy convenient access to IU Health, 16 Tech, the Monon Trail, State Fairgrounds, Newfields, Butler & Marian College, the Children's Museum, and more. This is a compelling multifamily asset with strong tenant appeal, immediate cash flow, below-market rents, and long-term upside, making it the perfect portfolio builder. Property is being sold as-is.

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Detail Ic Property Details

Property Type : Residential Income

Price : $249,000

AD Id : 87826861

MLS Id : MBR22112664

Lot Size : 0.08 Acre

Year Built : 1910

Garage : 1

County : Marion

Subdivision: Osgoods 1st Central Ave Add

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Feature Features

  • Room Information

    Has Basement: Yes

    Interior Features

    Roof: Asphalt Laundry Features: Connections All, Laundry Room, Upper Level

    Roofing Information

    Asphalt
  • Flooring Information

    Construction Materials: Vinyl With Brick
  • Heating & Cooling

    Heating: Forced Air Cooling: None, Window Unit(s)

  • Building Information

    Year Built: 1910

  • Lot Information

    Lot Square Feet: 3615 Lot Acres: 0.08

    Property Information

    Property Type: Residential Income Sub Type: Duplex Style: Traditional Structure Type: Duplex

  • Listing Price Information

    Original List Price:$249000

  • Tax Information

    Tax Lot: 16 Tax Legal Description: Osgoods 1st Central Ave Add 90' E End L16 Tax Year: 2024 Parcel Number: 490624116041000101

  • Parking Information

    Attached

    Garage Information

    Garage Space: 1

  • Location Information

    Subdivision: Osgoods 1st Central Ave Add City: Indianapolis Direction: GPS Friendly
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ByOwner last updated this listing 07/25/2026 @ 18:20

MLS: MIBOR #22112664 LISTED BY: Peter Stewart, Keller Williams Indpls Metro N 317-846-6300 SOURCE: MIBOR REALTOR® Association (Listings courtesy of MIBOR REALTOR® Association as distributed by MLS GRID)

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