Updated Oct 15, 2026
Marcus & Millichap Sells 22-Unit Multifamily Property In Indianapolis For $2.2M
550 Fletcher Avenue
$2,200,000
$140/SF
Building Size
15,652 SF
Asset Type
MultiFamily
Closing
Oct 14, 2026
About this deal
AI
A multifamily property consisting of 22 units at 550 Fletcher Avenue in Indianapolis, IN has been sold for a total of $2.2 million. The property encompasses a square footage of 15,652, translating to a price per square foot of $141 and a price per unit of $100,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Square Footage: 15,652
- Price per Square Foot: $141
- Units: 22
- Price per Unit: $100,000
- Sale Date: 10/14/2026
- Market: Indianapolis, IN
- Brokers: Jack Friskney & Aaron Kuroiwa - Marcus & Millichap
Jack Friskney and Aaron Kuroiwa of Marcus & Millichap represented the seller based in Colorado in this transaction and also facilitated the sale to a local buyer, who has plans for light kitchen renovations and operational improvements at the property.
On the Map
$2,200,000
$140/SF
MultiFamily
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Indianapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93