1131 Pleasant Street, Indianapolis, IN 46203

• 2,496 sqft

Property Description

Do you hear that bellowing? That's the cash cow of 1129-1131 Pleasant St, calling out to its new owner! This 6-unit apartment building is tucked back off Shelby St, on a quiet street, in the shade of mature hardwoods, in the heart of Fountain Square, & is plum full of satisfied tenants who wish to stay right where they are, even through a transition in ownership. Generating $5100/mo in rental revenue (maybe more, as present rents are somewhat below FMV), the building features 2 spacious main-floor apartments (one w/ 2 BRs, and 1 w/ 1BR + a bonus room), as well as four 1BR efficiency apartments upstairs. This building looks good, lives easily, rents well & will make a NICE addition to any urban Indy portfolio. While the county records say the building was built in 1965, we suspect it was actually *converted* to multi-family in 1965, for many of its architectural features reflect a historic era, including the covered front porch, the fireplace mantels, traces of craftsman woodwork t/o & the soaring ceiling heights. The building has enjoyed many updates under the current ownership, including a new heat pump in 2019, many new windows (2020-2023) + various structural, mechanical & cosmetic updates to all the apartments in recent years. Behind the building is a large green space w/ an alley-load parking lot, and street-parking in the front is abundant & available for all. 5 of the 6 units are presently leased, the 6th has several applications in review right now. If you are going to check out this opportunity, note the local amenities nearby that make this building so appealing, such as public transportation & shops/restaurants/parks/employment w/in walking distance. DO NOT DISTURB THE TENANTS! **Reported size of the building & the apartments is approximate. Marion County says the building is 2156sf, but it looks & feels larger than that**

Listing Status:

Active

Listing Office:

Carpenter, REALTORS® : 317-847-2695

Listing Agent:

Jennifer Blandford : 317-847-2695

MLS ID:

22070674

Interior

• Laundry: Common LaundryConnections AllMain Level
• Basement: CellarUnfinished
• A/C: Heat PumpWindow Unit(s)
• Heating: ZonedForced AirNatural GasHeat Pump

Exterior

• Parking: CommonGravel

Construction

• Roofing: Asphalt
• General: Two

Location

• Road/Access: City Street
• Originating MLS: mibor
• School District: Indianapolis Public Schools
• County: Marion

Lot

• Zoning: Commercial GeneralFletchers Woodlawn Add L30491007207057000101
• Current Use: Apt<20

Utilities

• Utilities: Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected

Financial

• Source: mibor

This listing courtesy of Jennifer Blandford, Carpenter, REALTORS®