1921 Prospect Street, Indianapolis, IN 46203

Property Description

Welcome to a rare new-construction opportunity on the east end of Fountain Square, one of Indianapolis's most sought-after and rapidly appreciating neighborhoods. This brand-new 4-unit multifamily property is designed like four individual townhomes, each unit offering 2 bedrooms, 2 bathrooms, and approximately 1,100 sq ft of thoughtfully laid-out living space. Projected completion is summer/fall 2026. Each two-story unit features an open-concept main floor with living, dining, and kitchen areas, plus a foyer, full bathroom, and dedicated laundry/mechanical space. Upstairs, residents will find two bedrooms and a second full bathroom. Finishes throughout include architectural shingles and Hardie Board siding, white shaker cabinetry, granite countertops, subway tile backsplash, stainless steel appliances, and LVP flooring on main level. Bathrooms feature matte black plumbing fixtures, tile surrounds at tubs, framed mirrors, wall sconce lighting, and coordinated accessories. Each unit is independently metered for electric and gas, with its own HVAC system and water heater. Water/sewer is not currently submetered but could be in the future. Rear driveway with alley access, plus available street parking. Projected rents of $1,500-$1,650 per unit bring estimated gross annual income of $72,000-$79,200. With 100% new construction, expect minimal maintenance and capex for years to come - a rare chance to add a low-maintenance, cash-flowing asset to your portfolio in one of Indy's hottest neighborhoods.