REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Nathaniel Wozniak • Berkshire Hathaway Home
$ 399,900
Est. payment /mo
Active
1505 S East ST Indianapolis, IN 46225
9,200 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 9,200 sqft
Price per Sqft $43
MLS Listing ID 22006941
Year Built 1900
Tax Year 2024
Lot Size 0.600 Acres
Acres 0.6
Property Sub-Type Multi-Family 5+
Property Description
SIGNIFICANT PRICE REDUCTION - NOW OFFERED AT $399,900. Seller has aggressively repositioned this asset for an immediate sale and will review all serious offers. Preference will be given to as-is purchase offers with minimal contingencies. Rare redevelopment opportunity in the highly desirable Bates-Hendricks neighborhood less than one mile from Eli Lilly's corporate campus and the Fountain Square district. Situated on approximately 0.60 acres with 173 feet of frontage along East Street, the property includes approximately 9,200 square feet across four interconnected structures with four garage bays and dedicated on-site parking. Currently zoned C-1, the property presents exceptional redevelopment potential for residential, mixed-use, office, or adaptive reuse projects, subject to applicable approvals. Given its location, surrounding neighborhood investment, and proximity to downtown employment centers, the site is well positioned for future residential redevelopment, including townhomes, condominiums, or other missing-middle housing concepts, subject to zoning and municipal approvals. Opportunities to acquire a site of this size and visibility in this location at this price point are increasingly uncommon.
Location
State IN
County Marion
Zoning C-1
Rooms
Basement Unfinished
Interior
Heating Forced Air
Cooling Central Air
Fireplace N
Exterior
Exterior Feature Exterior Handicap Accessible
Garage Spaces 4.0
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Flat,Membrane,Rubber,Shingle
Building
Story 2
New Construction false
Schools
School District Indianapolis Public Schools
© 2026 All listing information is courtesy of MIBOR Broker Listing Cooperative(R) as distributed by MLS Grid. All rights reserved.
NEARBY SCHOOLS & PROPERTIES