$419,000

1515 E Michigan Street, Indianapolis, IN 46201

  • 2,774 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1921
  • Property Lot Size Icon6,534sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $151/sqft
  • Property List Date Icon Listed 28 days ago

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 one unit 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.

Listing Status:
Active
Data Last Updated:
April 2, 2026 at 7:19PM
Listing Office:
FS Houses LLC : 317-760-2897
Listing Agent:
Ashley Mullin : 317-760-2897
MLS ID:
22087337
  • Laundry: In Basement
  • Basement: Unfinished
  • A/C: None
  • Heating: Forced AirNatural Gas
  • General: Two
  • Originating MLS: mibor
  • School District: Indianapolis Public Schools
  • County: Marion
  • Zoning: MU1Sturm & Kollers Corr Add L4491006132018000101
  • Current Use: Apt<20
  • Utilities: Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
  • Source: mibor

This listing courtesy of Ashley Mullin , FS Houses LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

T

Theodore Potter Magnet Elementary School 74

1601 E 10th St, Indianapolis, IN, 46201

Grades KG-6

0.46 miles away

H

H. L. Harshman Magnet Middle School

1501 E 10th St, Indianapolis, IN, 46201

Grades 7-8

0.45 miles away

A

Arsenal Technical High School

1500 E Michigan St, Indianapolis, IN, 46201

Grades 9-12

0.18 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.