1515 E Michigan Street, Indianapolis, IN 46201

• 2,774 sqft

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:

May 20, 2026 at 8:19PM

Listing Office:

FS Houses LLC : 317-760-2897

Listing Agent:

Ashley Mullin : 317-760-2897

MLS ID:

22087337

Interior

• Laundry: In Basement
• Basement: Unfinished
• A/C: None
• Heating: Forced AirNatural Gas

Construction

• General: Two

Location

• Originating MLS: mibor
• School District: Indianapolis Public Schools
• County: Marion

Lot

• Zoning: MU1Sturm & Kollers Corr Add L4491006132018000101
• Current Use: Apt<20

Utilities

• Utilities: Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected

Financial

• Source: mibor