$299,000

2605 Shelby Street, Indianapolis, IN 46203

  • 6,582 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1930
  • Property Lot Size Icon9,583sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $45/sqft
  • Property List Date Icon Listed 2 days ago

Property Description

Investor special in the heart of Garfield Park! Located at 2605 Shelby St, this 6-unit property sits directly across from the park in one of Indianapolis' fastest revitalizing neighborhoods, just minutes from downtown and steps from the Red Line. Walkable to local favorites like Parkside Public House, Cafe Babette, Skosh Coffee House, and the Garfield Park Branch Library. This fully gutted, down-to-the-studs asset is partially framed and ready for completion-offering a true value-add opportunity with significant upside. The unit mix includes two 1BR/1BA units (~500 sq ft each), three 2BR/1BA units (two ~500 sq ft and one ~1,000 sq ft), and one 3BR/2BA unit (~1,150 sq ft). A full renovation is required, including all major systems (plumbing, electrical, HVAC), drywall, and complete interior finishes. The property consists of two connected structures: a two-story building with one unit per level, and a single-story concrete block/brick building housing the remaining units. With construction at the framing stage, investors can tailor layouts and finishes to support long-, mid-, or short-term rental strategies-an ideal fit for this high-demand area. A scope of work is available, and a contractor is in place and ready to complete the project for buyers seeking a more turnkey execution. Additional features include a large front concrete patio and rear parking area off the alley. Sold as-is; cash, hard money, or renovation financing only.

Listing Status:
Active
Data Last Updated:
April 5, 2026 at 1:19AM
Listing Office:
Keller Williams Indpls Metro N : 317-450-9202
Listing Agent:
Peter Stewart : 317-450-9202
MLS ID:
22092561
  • Basement: Unfinished
  • A/C: None
  • Heating: None
  • Parking: Alley Access
  • Roofing: AsphaltFlat
  • General: Two
  • Originating MLS: mibor
  • School District: Indianapolis Public Schools
  • County: Marion
  • Zoning: C1- CommercialHollidays Garfield Pk Add L8 & L9491019117189000101
  • Current Use: Apt<20
  • Utilities: See Remarks
  • Source: mibor

This listing courtesy of Peter Stewart , Keller Williams Indpls Metro N

Monthly Payment

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

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Location

Schools Nearby

E

Eleanor Skillen Elementary School 34

1410 Wade St, Indianapolis, IN, 46203

Grades PK-6

0.42 miles away

S

SUPER School at Frederick Douglass School 19

2020 Dawson St, Indianapolis, IN, 46203

Grades KG-8

0.85 miles away

E

Emmerich Manual High School

2405 Madison Ave, Indianapolis, IN, 46225

Grades 10-12

0.78 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.