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🔥 Indianapolis Triplex Deal | Cash Flow + Value-Add 🔥
Address: 827 N Sherman Dr, Indianapolis, IN 46201
Price: $99,990
ARV: $200,000+
EMD: $5,000
Property Overview
Turnkey triplex opportunity with strong upside in a growing Indianapolis rental market. This 6-bed, 3-bath property offers 2,420 sq ft and sits on a 5,401 sq ft lot. All three units are 2 bed / 1 bath, making it ideal for consistent tenant demand.
The property features a roof approximately 8 years old, separate electric meters, and a shared water meter. The garage has been converted into a third unit (fully permitted).
Unit Breakdown
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Unit A: 2/1 – ~950 sq ft (Tenant Occupied)
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Unit B: 2/1 – ~750 sq ft (Tenant Occupied)
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Unit C: 2/1 – ~720 sq ft (Vacant)
Income Potential
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Market Rents: $750 – $950/unit
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Projected Total Rent: $2,250 – $2,850/month
Property will be delivered vacant at closing, giving investors the ability to renovate and stabilize at market rents immediately.
Condition Notes
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Light to moderate value-add opportunity
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No current interior photos for Units A & B (seller reports better condition than Unit C)
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HVAC & water heater ages unknown
Key Features
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Triplex (3 units – all 2/1 layouts)
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2,420 sq ft total living space
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5,401 sq ft lot
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Roof ~8 years old
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Separate electric meters
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Permitted garage conversion (3rd unit)
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Driveway parking
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Vacant at close
Access
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Units A & B: Tenant occupied (appointment required)
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Unit C: Vacant (photos available)
Deal Highlights
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Strong cash flow potential post-renovation
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Delivered vacant = immediate reposition opportunity
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High-demand rental area
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