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Listed by Hayley Wild • Compass Indiana, LLC
$ 299,900
Est. payment | /mo
4,604 SqFt
$ 299,900
Est. payment | /mo
4,604 SqFt
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 4,604 sqft
Price per Sqft $65
MLS Listing ID 22094042
Tax Year 2024
Lot Size 2,613 Sqft
Acres 0.06
Property Sub-Type Multi-Family 5+
Property Description
Located in the historic and highly sought-after Woodruff Place, 720 Woodruff Place W Drive presents a rare opportunity to own a character-rich, income-producing property in one of Indianapolis' most iconic neighborhoods. Currently configured as an 8-unit property with a legal nonconforming use, the building includes 4 studio units, 3 one-bedroom units, and 1 two-bedroom unit, offering strong income potential and flexibility. Distinctive features include a grand upstairs ballroom and a separate carriage house-currently fully vacant-providing immediate value-add potential for additional rental income or creative use, along with a spacious basement offering expansion possibilities (buyer to verify). Zoned for 1-4 single-family use, the property allows for multiple exit strategies, including continued use as an investment or conversion back to a stunning single-family residence, all ideally located near Brookside Park and just minutes from downtown.
Location
State IN
County Marion
Zoning Single Family
Interior
Heating Wood Stove
Cooling Window Unit(s)
Fireplace N
Exterior
Exterior Feature Balcony
Utilities Available Sewer Connected, Water Connected
Building
Story Three Or More
New Construction false
Schools
School District Indianapolis Public Schools
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