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802 Weghorst Street Indianapolis IN 46203
- -
- Bedrooms
- -
- Baths
- N/A
- SQ. Feet
(Above Ground)
- 0.12
- Acres
Exceptional Triplex Investment Opportunity in Fountain Square! Unlock the potential of this rare multi-family gem located in the heart of highly sought-after Fountain Square-one of Indianapolis' fastest-growing and most vibrant neighborhoods. This income-producing triplex offers a solid foundation for both seasoned investors and those looking to start or expand their portfolio. Each of the three 1-bedroom, 1-bath units delivers stable rental income, generating a Gross Operating Income (GOI) of $20,400 annually. While the seller currently covers all utilities, averaging approximately $3,884/year, and standard property taxes and insurance, there's ample room to improve cash flow by passing on utility expenses or increasing rents with future updates. Sitting proudly on a large corner lot, the property includes a fenced rear yard-ideal for tenants with pets or for added outdoor appeal-and a 2-car detached garage, offering extra value for storage or future rental potential. Though the building needs some TLC, it presents a fantastic value-add opportunity in a rapidly appreciating area. With its prime location, strong rental upside, and room for improvement, this triplex is a smart investment waiting for your vision.
Property Details
Interior Features
- Cooling: Central Air, Window Unit(s)
- Heating: Forced Air, Natural Gas
Exterior Features
- Setting / Lot Description: City Lot, Sidewalks, Mature Trees
- # Acres: 0.12
Listing Office: Monteith-legault Real Estate C
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Listing information last updated on September 18th, 2025 at 10:56am EDT.
