4826 E Michigan Street, Indianapolis, IN 46201

Property Description

INVESTOR ALERT!! Located on a prominent corner lot in the Emerson Heights neighborhood, 4826 E Michigan St offers a strong, turnkey triplex opportunity in a stable yet appreciating near-eastside submarket. This townhome-style property features three spacious units, each approximately 925 sq ft, providing a desirable layout for long-term tenants. Unit one is a 2BR/1BA leased at $1,000/month through 7/31/26 with tenants paying electricity. Unit two is a 3BR/1BA leased at $1,150/month through 3/31/26, with tenants reimbursing $75/month for water. Unit three is a 2BR/1BA leased at $950/month through 9/30/26 and also reimburses $75/month for water. Electricity is separately metered and paid by tenants, supporting efficient operating expenses. With gross rents of $3,100 per month-well over the 1% rule-this property delivers immediate cash flow from day one, with additional upside as the surrounding area continues to improve. Emerson Heights sits adjacent to Historic Irvington and is less than 10 minutes from downtown Indianapolis, offering both stability and appreciation potential. Tenants enjoy walkable access to Ellenberger Park and a nearby 10th Street retail strip featuring Kroger, CVS, banking, dining, and other daily conveniences. Currently under professional management by Triple E Property Management, with the option to continue services for a seamless transition, this is an ideal acquisition for investors seeking a low-maintenance, income-producing asset in a proven Indianapolis location.