1505 S East Street, Indianapolis, IN 46225

Property Description

SIGNIFICANT PRICE REDUCTION - NOW OFFERED AT $399,900. Seller has aggressively repositioned this asset for an immediate sale and will review all serious offers. Preference will be given to as-is purchase offers with minimal contingencies. Rare redevelopment opportunity in the highly desirable Bates-Hendricks neighborhood less than one mile from Eli Lilly's corporate campus and the Fountain Square district. Situated on approximately 0.60 acres with 173 feet of frontage along East Street, the property includes approximately 9,200 square feet across four interconnected structures with four garage bays and dedicated on-site parking. Currently zoned C-1, the property presents exceptional redevelopment potential for residential, mixed-use, office, or adaptive reuse projects, subject to applicable approvals. Given its location, surrounding neighborhood investment, and proximity to downtown employment centers, the site is well positioned for future residential redevelopment, including townhomes, condominiums, or other missing-middle housing concepts, subject to zoning and municipal approvals. Opportunities to acquire a site of this size and visibility in this location at this price point are increasingly uncommon.