3614 E Washington St

Indianapolis, IN 46201

$315,000
Price
—
Beds
—
Baths
2,288 Sq. Ft.
$138 / Sq. Ft.
2,288
Sq. Ft.
$138
per Sq. Ft.

Description

Turnkey 6-unit multifamily investment opportunity on Washington Street! This well-maintained property features six studio-style units with strong in-place rents and reliable tenants. Current gross rental income is $4,207/month or $50,484/year, with three units rented at $680/month, one at $340 every two weeks ($737/month), one at $300 every two weeks ($650/month), and one at $180/week (~$780/month). The owner pays all utilities, including gas, electric, water, sewer, and trash, with average monthly...Turnkey 6-unit multifamily investment opportunity on Washington Street! This well-maintained property features six studio-style units with strong in-place rents and reliable tenants. Current gross rental income is $4,207/month or $50,484/year, with three units rented at $680/month, one at $340 every two weeks ($737/month), one at $300 every two weeks ($650/month), and one at $180/week (~$780/month). The owner pays all utilities, including gas, electric, water, sewer, and trash, with average monthly expenses of just $588 and estimated annual expenses of $7,056. Financials project a net operating income of $43,428, delivering a cap rate of 12.77% at the $340,000 price point. With 20% down, investors can expect an impressive 30.37% cash-on-cash return, based on an estimated annual cash flow of $20,651 after debt service. The property offers off-street parking and is ideally situated in a high-growth corridor, walkable to retail, restaurants, and public transit. With minimal overhead, steady cash flow, and clear value in place, this is a rare opportunity to secure a high-yield asset in a rapidly appreciating area. No showings without an accepted offer. Please do not disturb tenants.

Property Details for 3614 East Washington Street

Subdivision Name
Carter Sub Robson & Vorhees
Township
Center
Zoning
commercial
LISTING UPDATED: 11/28/2025 04:57 PM

Property Details for 3614 East Washington Street

StatusActive
MLS #22042720
Days on Market203
Taxes$1,472 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi-Family 5+
Year Built1925
Lot Size0.28 AC / 12,196 SF
CountyMarion County

Location

Listing Courtesy of Hanza Realty, LLC
Add your commute

Building Information for 3614 East Washington Street

Stories-Residences1Year Built1925Building Size-Lot Size0.28 AC / 12,196 SF

Payment Calculator

$1,802 per month

30 year fixed, 6.28% Interest

Principal and Interest

$1,557

Property Taxes

$245

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3614 East Washington Street

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46201
  • Postal Code Plus4: 4448
  • Road Access: See Remarks
  • State Or Province: IN
Taxes and HOA Information
  • Parcel Number: 491005103003000101
  • Semi Annual Property Tax Amt: 1472
  • Tax Year: 2024
  • TaxLot: 1
School Information
  • School District: Indianapolis Public Schools
Owner
  • Owner Pays: All Utilities, Insurance, Lawncare
Parking
  • Garage Spaces: 0.0
Property
Lot Information
  • Acreage: 1/4-1/2 Acre
  • Current Use: Residential
  • Lot Size Square Feet: 12000.0
  • Lot Size Acres: 0.28
  • New Construction: False
  • Space Available: 2288
  • Sq Ft Total: 2288.0
  • Year Built Numeric: 1925
  • Living Area Source: Assessor
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • DPRYN: No
  • Legal Subdivision: Robson & Vorhees Add 60 X 200Ft Beg 90Ft W Se Corl3
  • Photos Count: 32
  • Property Sub Type: Multi-Family 5+
  • Property Type: Commercial Sale
  • Transaction Type: Sale
Utilities
  • Electric: 200+ Amp Service
  • Solid Waste: Yes
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Operating Expense: 446.0
Interior and Exterior Features
Interior Features
  • Basement Description: Storage Space, Unfinished
  • Basement YN: Yes
  • Cooling: None
  • Heating: Forced Air
  • Levels: Two
  • Laundry Features: No Laundry Facil.
Multi Family
Multi-Family Information
  • Total Units: 1
  • Garage Parking: Parking Lot
Income & Expenses
  • Expenses: 446
  • Gross Income: $4,207.00
  • Gross Scheduled Income: $4,207.00
Unit 1
  • Unit Kitchen: 100
  • Unit Levels: 1
  • Unit Rent Frequency: Monthly
  • Unit Type Type: Studio
Rental
Rental Information
  • Tenant Pays: Rent Only

Property History for 3614 East Washington Street

DateEvent & SourcePriceAppreciation
Oct 15, 2025

Price Change

MIBORMLS #22045368

$315,000—
Oct 15, 2025

Price Change

MIBORMLS #22042720

$315,000—
Aug 13, 2025

Price Change

MIBORMLS #22045368

$320,000—
Aug 13, 2025

Price Change

MIBORMLS #22042720

$320,000—
Aug 4, 2025

Price Change

MIBORMLS #22045368

$332,000—
Aug 4, 2025

Price Change

MIBORMLS #22042720

$332,000—
Jul 11, 2025

Price Change

MIBORMLS #22045368

$335,000—
Jul 11, 2025

Price Change

MIBORMLS #22042720

$335,000—
Jun 9, 2025

Listed (Active)

MIBORMLS #22045368

$340,000—
Jun 3, 2025

Listed (Active)

MIBORMLS #22042720

$340,000—
Dec 8, 2020

Sold

MIBORMLS #21751125

$135,000—
Dec 4, 2020

Sold (Public Record)

Public Record #687848646

$135,000—
Nov 12, 2020

Pending

MIBORMLS #21751125

—
Nov 6, 2020

Listed (Active)

MIBORMLS #21751125

$147,000—
Nov 30, 2016

Expired

MIBORMLS #21434945

—
Aug 8, 2016

Listed (Active)

MIBORMLS #21434945

$112,000—
Jun 24, 2002

Sold

MIBORMLS #2210636

$93,900—
May 25, 2002

Pending

MIBORMLS #2210636

—
Mar 6, 2002

Listed (Active)

MIBORMLS #2210636

$125,000—
DateEvent & SourcePrice
10/15/2025

Price Change

MIBORMLS #22045368

$315,000
10/15/2025

Price Change

MIBORMLS #22042720

$315,000
08/13/2025

Price Change

MIBORMLS #22045368

$320,000
08/13/2025

Price Change

MIBORMLS #22042720

$320,000
08/04/2025

Price Change

MIBORMLS #22045368

$332,000
08/04/2025

Price Change

MIBORMLS #22042720

$332,000
07/11/2025

Price Change

MIBORMLS #22045368

$335,000
07/11/2025

Price Change

MIBORMLS #22042720

$335,000
06/09/2025

Listed (Active)

MIBORMLS #22045368

$340,000
06/03/2025

Listed (Active)

MIBORMLS #22042720

$340,000
12/08/2020

Sold

MIBORMLS #21751125

$135,000
12/04/2020

Sold (Public Record)

Public Record #687848646

$135,000
11/12/2020

Pending

MIBORMLS #21751125

—
11/06/2020

Listed (Active)

MIBORMLS #21751125

$147,000
11/30/2016

Expired

MIBORMLS #21434945

—
08/08/2016

Listed (Active)

MIBORMLS #21434945

$112,000
06/24/2002

Sold

MIBORMLS #2210636

$93,900
05/25/2002

Pending

MIBORMLS #2210636

—
03/06/2002

Listed (Active)

MIBORMLS #2210636

$125,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 3614 East Washington Street

Taxable ValueLand$15,800Additions$247,700Total$263,500
Tax Record2024$6,253 ($521 / month)
Home Facts
Total Finished SqFt2,008 SqFtAbove Grade Finished SqFt2,008 SqFtStories2Lot Size12,000 SqFtStyleMulti-Family Dwelling (2-4)Year Built1925Year Renovated1960ZoningZO01CountyMARIONAPN49-10-05-103-003.000-101

Schools near 3614 East Washington Street

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Eleanor Skillen Elementary School 34
Public - PK to 6
William McKinley School 39
Public - PK to 6
Christian Park School 82
Public - PK to 6
Daniel Webster School 46
Public - PK to 8
Rating
School
Distance
Eleanor Skillen Elementary School 34
PublicPK to 6

William McKinley School 39
PublicPK to 6

Christian Park School 82
PublicPK to 6

Daniel Webster School 46
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 3614 East Washington Street, Indianapolis, IN 46201

3614 East Washington Street is a multi-family home for sale in Indianapolis, IN 46201. This property was listed for sale on June 3, 2025 by Hanza Realty, LLC, it's currently listed at $315,000. It has been on the market for a total of 203 days and was last sold on December 8, 2020. This listing's school district is Indianapolis Public Schools. Nearby schools include Eleanor Skillen Elementary School 34, William McKinley School 39 and Christian Park School 82. 3614 East Washington Street is a 0-bed, 0-bath, 2,288 sqft multi-family home built in 1925.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Hanza Realty, LLC

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/23/2025 03:13 PM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.