Aerie Apartments — Sale in Indianapolis, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Indianapolis, IN 46219

Photos

Aerie Apartments — Sale in Indianapolis, IN, photo 1 of 2
Aerie Apartments — Sale in Indianapolis, IN, photo 2 of 2

Investment Figures

Cap rate
7.25%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the Aerie Apartments, a two property portfolio located in the growing Irvington submarket of Indianapolis. 6220 E 11th St is comprised of 31, two-bed/one-bath units and two three-bed units. 5824 E Washington St is comprised of 30 units, all studios. Irvington, the largest protected historic neighborhood in Indianapolis, boasts a median household income of ~$75k , significantly higher than the median household income of Marion County (~$43k). Accoridng to the Indianapolis Business Journal, nearly three dozen new businesses moved into the Irvington market over the last few years. Various new redevelopments, including the Coal Factory redevelopment and the Irvington Plaza redevelopment, continues to reshape this neighborhood for years to come. Investment Highlights: • TWO PROPERTY PORTFOLIO SALE - Fast Growing Irvington Submarket of Indianapolis • Majority of Units have been Renovated • ProForma Cap Rate of 8.4+ Percent Once Physical Vacancy is Reduced

Market Context

This multifamily in Indianapolis, IN is listed for sale. It is offered at an approximate 7.2% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Indianapolis, IN — view the full market.

As of Q4 2025, the Indianapolis multifamily market showed average asking rents near $1342.50/unit/mo. Source: multiple brokerage reports, Q4 2025.

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