Washington Village

• Extensive Capital Expenditures Completed
  • New Flooring, Upgraded HVAC, Upgraded Electrical, Upgraded Plumbing, and more
• Nearby Multiple Development Projects
  • West Washington Street Corridor (3,000 to 3,500 Jobs)
  • Indy Eleven Development (1,000+ Jobs)
  • Elanco at Old GM Stamping Plant / LEVEE District (500+ Jobs)
  • New IU Health Downtown Hospital (500+ Jobs)
  • Circle Centre Redevelopment
• Projected 7.50%+ Pro Forma CAP

Property Description

Marcus & Millichap is pleased to exclusively present Washington Village apartments, located just west of downtown Indianapolis, IN. This multifamily property was built in 1950 and consists of three buildings and (20) units, including one (1) studio unit, sixteen (16) one-bedroom units, and three (3) two-bedroom units. Current ownership has completed nearly $300,000 rehabbing the property. They have done $96,000 in interior renovations for all 20 units; $60,000 upgrading the HVAC, plumbing, and electrical; and $66,000 in common area and exterior renovations, including upgrades to the flooring and landscaping. These renovations put the property in position to receive some of the highest rents in the area. Located a short drive from the Indianapolis zoo, the property is located on the west side of Indianapolis and offers a unique opportunity to invest in an area with multiple planned development projects in Indianapolis. The West Washington Street Corridor Project aims to revitalize over 800 acres with mixed-use developments, improved infrastructure, and enhanced public spaces just north of the Indianapolis airport. Additionally, the planned Indy Eleven soccer stadium is only 1.5 miles from the property and will increase employment and entertainment nearby.