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Indianapolis investment opportunity on a prime corner lot near the University of Indianapolis and just a short drive from downtown. Gutted to the studs and ready for its next chapter, this property comes with permit-ready plans for a 4-bedroom, 2.5-bath home featuring 9'+ ceilings, an open living room flowing into a huge kitchen and dining combo, and a private main-level primary suite with walk-in closet and en-suite bath. A half bath and laundry room round out the main level. Upstairs, three additional bedrooms - two with charming window seats and one boasting a huge walk-in closet - share a full bath, complemented by a linen closet and a skylight-lit stairwell that fills the upper level with natural light, plus a laundry chute for everyday convenience. The unfinished basement offers excellent storage or workshop space. Curb appeal is already in place with newer LP SmartSide siding, a newer roof, a striking red front door with sidelights, a covered front porch, and beautiful mature landscaping. Outside, enjoy a large detached 2-car garage, an expansive deck, and a fully fenced, privacy-fenced backyard. Situated on a .26-acre corner lot with 82' of frontage and 136' of depth, this property may also offer potential to split off a second buildable lot (subject to zoning approval) - a compelling upside for builders and investors seeking new construction or fix-and-flip potential in a high-demand area near the university. Bring your vision and your contractor; the heavy lifting of demo and design is already done.
Property Type(s):
Single Family
| Last Updated | 7/9/2026 | Tract | Elders University Heights |
|---|---|---|---|
| Year Built | 1905 | Community | 4907 - Marion - Perry |
| Garage Spaces | 2.0 | County | Marion |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | None |
| AREA | 4907 - Marion - Perry |
| BARN/EQUESTRIAN | Yes |
| BASEMENT | Daylight, FULL, Sump Pump, Unfinished, Yes |
| CONSTRUCTION | Wood Siding |
| EXTERIOR | Fire Pit |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | None |
| INTERIOR | Entrance Foyer, High Ceilings, Walk-in Closet(s) |
| LOT | 0.26 acre(s) |
| LOT DESCRIPTION | Corner Lot |
| PARKING | Detached, Gravel |
| STORIES | 2 |
| STYLE | Traditional |
| SUBDIVISION | Elders University Heights |
| WATER | Public |
Location
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Listed with DNA Properties, LLC
Listing information is deemed reliable, but not guaranteed.
© 2026 Metropolitan Indianapolis Board of REALTORS®
© 2026 Metropolitan Indianapolis Board of REALTORS®
This IDX solution is (c) Diverse Solutions 2026.
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