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Listed by Peter Stewart • Keller Williams Indpls Metro N
$ 299,000
Est. payment /mo
New
25 S Spencer AVE Indianapolis, IN 46219
10,454 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Pattisons University Place
MLS Listing ID 22063449
Year Built 1924
Tax Year 2024
Lot Size 10,454 Sqft
Acres 0.24
Property Sub-Type Duplex
Property Description
Welcome to 23-25 Spencer Ave, a classic side-by-side duplex in the heart of Historic Irvington, one of Indy's most treasured neighborhoods known for its tree-lined streets, unique shops, Ellenberger Park, Pleasant Run Golf Course, the Pennsy Trail, and quick 15-minute access to downtown. Each unit mirrors the other with 3 bedrooms, 1.5 baths, and 1,544 sq ft of living space plus a full unfinished basement with laundry hookups, as well as a covered front porch, original hardwood floors, arched doorway with built-ins, and a decorative fireplace that showcase timeless character. The kitchens feature stainless steel appliances and a convenient main-level half bath, while upstairs you'll find more original hardwood flooring and a full bath serving the bedrooms. Both units have their own bay of the detached two-car garage, and all utilities are separately metered and paid by the tenants-minimizing owner expenses. Recent updates include newer HVAC systems (2022 & 2025) and full electrical rewiring (2022). Unit 23 is rented for $1,100/mo through 10/31/25 and Unit 25 for $1,200/mo through 2/28/26, providing immediate income with strong upside potential as 3-bedroom market rents in the area are projected around $1,500+. A spacious shared attic presents an additional opportunity for expansion. With one lease ending this October, it's also ideal for an owner-occupant looking to house hack in a thriving community that blends historic charm with ongoing revitalization. Rarely does a property offer such a strong mix of stability, cash flow, and growth potential in such a sought-after neighborhood!
Location
State IN
County Marion
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air
Cooling Central Air
Fireplace N
Exterior
Garage Spaces 2.0
View Y/N false
Building
Story Two
Architectural Style Traditional
New Construction false
Schools
School District Msd Warren Township
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