304 W Hanna Avenue, Indianapolis, IN 46217

• 3 beds |
• 3 baths |
• 1,616 sqft

Property Description

Investor Special - Exceptional Value-Add Opportunity. Rarely does a canvas this expansive hit the market at this price point. Situated on a sprawling 2-acre lot in Indianapolis, 304 W Hanna Ave is the kind of acquisition that separates seasoned investors from the rest - a full-renovation opportunity with multiple income streams already baked into the bones of the property. The main residence offers 3 bedrooms and 1 full bathroom, with a full unfinished basement, providing the square footage and layout flexibility to reposition as a premium rental, a high-margin flip, or a long-term hold. The converted garage has already been transformed into a self-contained apartment living area, setting the stage for immediate rental income potential once renovations are complete - a built-in ADU play that most properties simply can't offer. Beyond the main structures, three separate storage buildings round out this remarkable footprint, offering additional storage rental income, workshop space, or conversion opportunities - each one an asset waiting to be unlocked. Location is where this deal truly shines. Positioned with quick access to I-465 and I-65. Minutes from Garfield Park, the University of Indianapolis, Southside dining, and established retail corridors, tenant demand in this pocket remains strong and consistent. Whether you're a buy-and-hold investor targeting cash flow, a contractor looking for your next high-upside project, or a developer eyeing the land play, the numbers and the story both work here. Properties with this combination of acreage, income versatility, and location access simply don't stay available. Bring your vision. The opportunity is ready.

Listing Status:

Active

Data Last Updated:

June 28, 2026 at 7:19AM

Listing Office:

Ever Real Estate, LLC : 317-750-6490

Listing Agent:

Josh Monteith : 317-750-6490

MLS ID:

22102821

Interior

• General: Hardwood Floors
• Appliances: DryerGas Water HeaterGas OvenRange HoodWasher
• Laundry: In Basement
• Basement: Unfinished
• A/C: Central Air
• Heating: BaseboardForced Air

Exterior

• General: Barn MiniStorage
• Style: Traditional
• Other Structures: PatioCovered
• Parking: Asphalt

Construction

• General: TwoBlock

Location

• Originating MLS: mibor
• School District: Perry Township Schools
• County: Marion

Lot

• Zoning: Pt Se1/4 Se1/4 S26 T15 R3 Beg Sw Cor N 655.8Ft E133ft S 655.8Ft W 133Ft To Beg 2Ac491126102109000500
• Fencing: Full

Utilities

• Utilities: 100 Amp Service
• Water: Public

Financial

• Source: mibor