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Rare double-lot flip/development opportunity in one of the near south side's most actively renovated historic pockets. This 3-bedroom, 1-bath (with plumbing already installed for a second full bath - potential for 2 full baths total), 1,622-square-foot home sits on 7,318 square feet across two parcels - roughly double the width of surrounding lots - with a solid foundation and the heavy, unglamorous work already done. What's already completed: a new roof, new upsized water and sewer lines, a functional furnace, and drainage that's nearly complete. The home has been gutted to the studs and insulation, reframed for an open first-floor layout. Fully custom, stamped architectural plans for a carriage house/ADU are available by request. Since the sewer and water lines are already upsized and ready for ADU tie-in, no new taps are needed - an estimated $15K-$20K savings off the build. Estimated $110K-$150K to finish out. After Repair Value: $275K-$375K, depending on the route the investor takes. Located in the Bates-Hendricks Historic District, walkable to Fountain Square and just minutes from downtown Indianapolis. Cash or hard money only.
Property Type(s):
Single Family
| Last Updated | 9/3/2026 | Tract | Lemckes Sub Beatys |
|---|---|---|---|
| Year Built | 1910 | Community | 4910 - Marion - Center |
| Garage Spaces | 1.0 | County | Marion |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Gas Water Heater, None |
| AREA | 4910 - Marion - Center |
| BASEMENT | Yes |
| CONSTRUCTION | Other |
| GARAGE | Yes |
| HEAT | Forced Air, Natural Gas |
| LOT | 7405 sq ft |
| PARKING | Detached, Guest |
| STORIES | 1.5 |
| STYLE | Traditional |
| SUBDIVISION | Lemckes Sub Beatys |
| UTILITIES | Cable Available, Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected |
| WATER | Public |
Location
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© 2026 Metropolitan Indianapolis Board of REALTORS®
© 2026 Metropolitan Indianapolis Board of REALTORS®
This IDX solution is (c) Diverse Solutions 2026.
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