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$419,000 -

1515 E Michigan Street Indianapolis IN 46201

-
Bedrooms
-
Baths
N/A
SQ. Feet
(Above Ground)
0.15
Acres

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.

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Property Details

Price: $419,000 Previously: $419,000 Originally: $419,000 Bathrooms: 0.00 MLS #: 22087337 Year Built: 1921 Township: Center Sq. Ft Total: 2,774 Type: Commercial Sale Zip Code: 46201 City: Indianapolis Subdivision: Empty County: Marion School District: Indianapolis Public Schools High School: Arsenal Technical High School Middle School: H L Harshman Middle School Elementary School: Washington Irving Neighborhood School

Interior Features

Interior Features:
  • Cooling: None
  • Heating: Forced Air, Natural Gas

Exterior Features

Exterior Features:
  • Setting / Lot Description: Busline, City Lot, Sidewalks
  • # Acres: 0.15

Listing Office: Fs Houses Llc

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All information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties that a consumer may be interested in purchasing. All Information believed to be reliable but not guaranteed and should be independently verified. © 2026 MIBOR Broker Listing Cooperative®. All rights reserved.

Listing information last updated on March 12th, 2026 at 8:28am EDT.

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