1502 Lexington Avenue

Indianapolis, IN 46203

$335,000
Price
Beds
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investment opportunity in the highly sought-after Fountain Square neighborhood! This versatile property features two separate rental units, each with its own private entrance, offering privacy and flexibility. The property can also be converted into a single-family home (SFH) or a SFH with an income-generating upstairs unit. Enjoy the fully fenced yard and a charming covered front porch, perfect for relaxing. The bedrooms feature durable LVP flooring installed just two years ago, while the main living...Investment opportunity in the highly sought-after Fountain Square neighborhood! This versatile property features two separate rental units, each with its own private entrance, offering privacy and flexibility. The property can also be converted into a single-family home (SFH) or a SFH with an income-generating upstairs unit. Enjoy the fully fenced yard and a charming covered front porch, perfect for relaxing. The bedrooms feature durable LVP flooring installed just two years ago, while the main living areas showcase beautiful hardwood floors. Each unit has its own HVAC system for added convenience. In the downstairs unit, the fridge, dishwasher, microwave, and stove are all 2-5 years old, while the washer and dryer are approximately 15 years old. The upstairs unit includes a washer, dryer, microwave, stove, and dishwasher that are 2-5 years old, with a fridge that is about 10 years old. The downstairs electrical was updated 3-4 years before 2017. Upstairs was upgraded from knob and tube in 2017. All HVAC is from 2017. Located just one mile from downtown Indianapolis, this vibrant area boasts vintage shops, a wide variety of restaurants, an active art scene, live music, and more! Don't miss the chance to invest in this prime location.
  1. Listed by James Gilday • eXp Realty, LLC • JIM@THEGILDAYGROUP.COM

Property Details for 1502 Lexington Avenue

Architectural Style
TraditonalAmerican
Subdivision Name
Spann & Cos Woodlawn
Township
Center
Waterfront
No
LISTING UPDATED: 02/03/2025 01:04 PM

Property Details for 1502 Lexington Avenue

StatusPending
MLS #22019219
Days on Market6
Taxes$2,512 semi-annually
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built1880
Lot Size0.06 AC / 2,613 SF
CountyMarion County

Building Information for 1502 Lexington Avenue

Stories-Residences2Year Built1880Building Size-Lot Size0.06 AC / 2,613 SF

Property Information for 1502 Lexington Avenue

Summary
Location and General Information
  • City: Indianapolis
  • County Or Parish: Marion
  • Directions: GPS Friendly
  • Postal Code: 46203
  • Postal Code Plus4: 1215
  • Road Access: See Remarks
  • State Or Province: IN
  • View: No
Taxes and HOA Information
  • Parcel Number: 491007112084000101
  • Semi Annual Property Tax Amt: 2512
  • Tax Exemption: Homestead Tax Exemption
  • Tax Year: 2023
  • TaxLot: 520
School Information
  • School District: Indianapolis Public Schools
Owner
  • Owner Pays: Taxes, Sewer, Trash Collection, Water, Other
Property
Lot Information
  • Acreage: <1/4 Acre
  • Current Use: Residential
  • Lot Description: Access, Curbs, Sidewalks
  • Lot Size Square Feet: 2657.0
  • Lot Size Acres: 0.06
  • New Construction: False
  • Possible Use: Residential
  • Structure Type: Duplex
  • Year Built Numeric: 1880
  • Living Area Source: Appraisal
Property and Assessments
  • Affected by Disclosures: No
  • Conversion: No
  • DPRYN: Yes
  • Legal Subdivision: Spann & Cos 2nd Woodlawn 76Ft S End L279
  • Photos Count: 61
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Transaction Type: Sale
Green Features
  • Green Certification: No
Utilities
  • Solid Waste: No
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding
  • Exterior Features: Not Applicable
  • Foundation Details: Crawl Space
Interior Features
  • Basement YN: No
  • Cooling: Central Electric
  • Heating: Electric
  • Levels: Two
  • Laundry Features: Connections All
Multi Family
Multi-Family Information
  • Total Units: 2
  • Garage Parking: On Street
Income & Expenses
  • Expenses: 1506
  • Gross Income: $34,908.00
Unit 1
  • Unit Kitchen: 10x13
  • Unit Levels: 1
  • Unit Miscellaneous: Disposal,Lndry Conn
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Fuel Elec,Fuel Gas,Heat Forced,Hot Wtr Elec
  • Unit Type Type: 2 Bedroom
Unit 2
  • Unit Kitchen: 11x8
  • Unit Levels: 1
  • Unit Miscellaneous: Lndry Conn,Disposal
  • Unit Rent Frequency: Monthly
  • Unit Utilities: Fuel Elec,Fuel Elec,Fuel Elec,Fuel Gas,Heat Forced,Hot Wtr Elec
  • Unit Type Type: 2 Bedroom
Rental
Rental Information
  • Tenant Pays: Electricity

Property History for 1502 Lexington Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1502 Lexington Avenue

Taxable ValueLand$35,000Additions$261,600Total$296,600
Tax Record2023$5,024 ($419 / month)
Home Facts
Total Finished SqFt2,118 SqFtAbove Grade Finished SqFt2,118 SqFtStories2Lot Size2,657 SqFtStyleDuplexYear Built1880Year Renovated2014ZoningZO01CountyMARIONAPN49-10-07-112-084.000-101

Schools near 1502 Lexington Avenue

This home is within Indianapolis Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 6
Public - 7 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
William McKinley School 39
PublicPK to 6

Arlington Community Middle School
Public7 to 8

Arsenal Technical High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of eXp Realty, LLC

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.