2101 N Pennsylvania St 6 Unit Apartment Building $2,170,422 CAD ($361,737 CAD/Unit) 7% Cap Rate Indianapolis, IN 46202

Rare opportunity to acquire a landmark multifamily asset in the heart of Herron-Morton. This stately all-brick six-unit building offers over 13,500 square feet of historic character, scale, and long-term investment potential in one of Indianapolis’ most sought-after neighborhoods.
Each residence features an expansive 3-bedroom floorplan of approximately 2,000 square feet — a rare offering in today’s rental market that appeals to residents seeking the feel of a private home within an urban lifestyle setting. The property is fully occupied with rents currently below prevailing market levels, creating meaningful future income upside through natural turnover and strategic rental repositioning.
Recent improvements have enhanced operational stability while preserving the timeless architectural character that makes properties of this scale increasingly difficult to replicate. Located just minutes from downtown, major hospitals, dining, and the thriving 16th Street corridor, the property benefits from strong long-term demand drivers and exceptional neighborhood appeal.
The lower level offers substantial additional space for storage, amenity, workspace, or other potential future uses subject to buyer verification and approvals.
This is a rare chance to acquire a true legacy asset in one of Indianapolis’ premier historic neighborhoods.