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Listed by Taylor Kumler • Kumler Realty
$ 3,400,000
Est. payment | /mo
28,756 SqFt
$ 3,400,000
Est. payment | /mo
28,756 SqFt
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 28,756 sqft
Price per Sqft $118
MLS Listing ID 22109027
Year Built 1898
Tax Year 2024
Lot Size 696 Sqft
Acres 0.016
Property Sub-Type Multi-Family 5+
Property Description
Originally constructed in 1898 by local businessman Herman E. Martens, the building is a beautifully restored example of Classical Revival architecture, featuring unique pentagonal design elements, limestone detailing, and large bay windows. In the early 1990's the building was completely renovated and legally converted into 19 individual parcels. Martens HPR Unit #1 thru#19. The property was extensively renovated while preserving its historic character, offering residents a blend of vintage charm and modern convenience. The units have a combination of hardwood and vinyl flooring, new gourmet kitchens with stove, frig, microwave, dishwasher, disposal and granite/butcher block counters. Units have their own independent electric heat pumps for heating/cooling, electric water heater and 100-amp electric service. Today the building is operated as a 19-unit apartment house but could easily be converted to accommodate a multitude of investment opportunities. The building has nine-1 bedroom/one bathroom, one-1 bedroom/1.5 bathroom, eight- 2 bedroom/2 bathroom and one-2 bedroom/one bathroom. The buildings brick and limestone exterior, newer windows and updated electrical and plumbing keep maintenance cost low. Over the past few years, a new Firestone rubber membrane roof and two new Velux skylights have been installed. Situated near the intersection of Senate Avenue and Indiana Avenue, The Martens provides easy access to downtown Indianapolis attractions, cultural venues, restaurants, entertainment districts, and major employment centers. The building's central location within the Indianapolis Mile Square offer's easy access to both IU and Purdue's Indianapolis campuses (2 blocks to the west), Kroger's Grocery (1 block to the north), the Capitol Building (1 block to the south) and Lucas Oil Stadium (4 blocks to the south) The Martens offers a unique residential experience for those seeking historic character, a walkable downtown lifestyle in Indianapolis.
Location
State IN
County Marion
Zoning CBD
Rooms
Basement Apartment, Finished
Interior
Heating Heat Pump
Cooling Central Air
Fireplace N
Exterior
Utilities Available Electricity Connected, Sep Electric Meter, Sewer Connected, Water Connected
Roof Type Rubber
Building
Story Three Or More
Structure Type Brick
New Construction false
Schools
School District Indianapolis Public Schools
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