3460 W 16th Street

Indianapolis, IN
$ 159,900 Beds 5 Baths 5 Sq 2,600
Monthly Estimate* How much can I afford?

Walk to the Racetrack or catch the bus from this conveniently located Speedway property. Rainbow Apartments is a 5 unit property managed by the same owner for over 35 years. There are currently 5 studio units with kitchenettes and bathrooms. There is gravel parking lot in back. Total of 2100 sf. Storage space in the downstairs bombshell shelter. 2019 furnace, 2016 AC and 2009 roof. Security system inside and outside is negotiable. Has 4 current tenants. Great potential for apartments or airbnb. Zoned C-4. Looking for a quick as is sale. Could close by the end of the year for a great offer!

Pending

  • Price
  • $ 159,900
  • Lot Size
  • 5,741 SqFt
  • Bedrooms
  • 5
  • Sqr Footage
  • 2,600
  • Full Bathrooms
  • 5
  • Year Built
  • 1924
  • Half Bathrooms
  • 0
  • City, Zip
  • Indianapolis
  • Taxes
  • $ 1654
  • County
  • MARION
  • Style
  • Area
  • Wayne
  • MLS#
  • 21829390
  • Zip
  • 46222
Listing Provided by: Sharon Stamper Thompson with Keller Williams Indy Metro NE
Data Source: Metropolitan Indianapolis MLS (MIBOR)

Features

General

Architectural Style Other
City Indianapolis
Construction Materials Aluminum Siding
County Marion
Current Use Apt<20
Days on Market 3
Directions 465 S to Crawfordsville Road East. Through roundabout to 16th Street Eastbound. Property is on the left.
Disclosures Not Applicable
Exterior Features Fence Partial
Levels One
MBR_SchoolDistrict Speedway
Net Operating Income 22648
New Construction No
Ownerpays AlarmSec, Electricity, Gas, Lawncare, Trash Collection, All Utilities, Water
Possession Close of Escrow
Possible Use Apt>20
Property SubType Commercial Units - 5+
Property Type Residential Income
Standard Status Pending
Status Pending
Street Name 16th
Structure Type Apartment Building, FreeStand
Subdivision Name RAINBOW RIDGE
Tax Year 2020
Tenant Pays Cable TV
Total Units 5
Township Wayne
Year Built 1924
Zoning C-4

Interior Features

Basement (Y/N) Yes
Street Suffix Street

Exterior Features

Foundation Details Concrete Perimeter, Partial
Lot Size Acres 0.1318
Road Frontage Type FrontageRd, City Street
Road Surface Type Asphalt

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Indianapolis, IN office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 2.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

12/17/2021 Listed $159,900

Property vs Zip Code Average in 46222

Price
AVG $130K
$160K
Taxes
AVG $918
$1,654
Visits
AVG 73
38
Year Built
AVG 1944
1924
Walkscore
AVG 49
65
Data Provided by Walkscore ® not using MLS data

Map

Areas That We Cover

3460 W 16th Street Indianapolis, IN is a Single Family Home for sale at $159900 with 2600 sqft and a lot size of 5,741 SqFt Acre(s). 3460 W 16th Street Indianapolis has 5 bedrooms, 5 baths and was built in 1924. The property's zip code is 46222 which is in Indianapolis, IN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 2.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.