Check Availability
$650,000
Land - For Sale

324 S College Avenue

Indianapolis, IN 46202
bedrooms
Studio
bathrooms
0 Bath
$3,197
Estimated Monthly
$5
HOA / Fees
1.79%
Cap Rate

About This Property

Unlock the essence of urban luxury living with this exceptional vacant lot, perfectly situated in the vibrant heart of Indianapolis and ready to be split and developed into two stunning homes. This prime parcel not only boasts fully approved design plans and permits for both properties but also expedites the building process for the discerning buyer. Ready for immediate construction, the meticulously crafted designs set the stage for two sophisticated luxury homes adorned with high-end finishes, ensuring unparalleled residences of timeless elegance. This turnkey opportunity seamlessly merges luxury and convenience, offering a distinctive blend of sophistication and modern living. With projected home values exceeding $1.1M each, this project eagerly awaits the vision of a discerning buyer poised to make a lasting impact on this flourishing neighborhood. Nestled in the Fletcher Place neighborhood, a burgeoning area near downtown Indianapolis, this project stands as a beacon of revitalization, surrounded by a collection of new builds and fully renovated homes. Seize the chance to bring these dream homes to life in a location characterized by growth and potential. These ready-to-build lots invite you to craft two masterpieces and embrace the dynamic energy of a neighborhood on the rise, all while making a handsome profit from the endeavor. Copies of recent appraisals, architectural plans, and spec sheets are all included and available for review. Another similar property is also available for a package deal (828 N Oriental). Act quickly for maximum ROI!!
Unit Size
-
Days on Market
141 days
Land Size
0.18 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
$5
Year Built
1950
Listed By
Peter Stewart
Peter Stewart
Peter Stewart Realty
Last updated: 5 months ago (MIBORIN #21955320)

Price History

Date / Event Date Event Price
Dec 8, 2023 Listed by Keller Williams Indianapolis Metro North $650,000
Listed by Keller Williams Indianapolis Metro North
Mar 26, 2022 No longer available -
No longer available
Mar 2, 2022 Listed by Compass of Indiana, LLC $250,000
Listed by Compass of Indiana, LLC
OPPORTUNITY! This oversized lot in Fletcher Place is one of a kind. Zoned D8 - Build your dream luxury single-family home, multi-family property, row homes or divide the land to multiple homesites. This location can't be beat. You can enjoy walking or biking to some of Indy's best local bars, restaurants, and shops. Jump on the Cultural Trail and head to Fountain Square, Mass Ave or Mile Square. Don't miss this opportunity!

Property Highlights

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Bedroom Count: 0
  • Basement Area: 0
  • Parking Space Count: 0

    Dimensions

  • Lot Size Square Feet: 7,920
  • Lot Size Depth Feet: 1,980
  • Lot Size Frontage Feet: 400
  • Total Building Area: 3,840
  • Building Area: 3,840

    Heating and Cooling

  • Air Conditioning: unknown
  • Heating: unknown
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: None
  • Water Service: None

Building

  • Property Class: Vacant
  • Subdivision: RAYS SUB OL92
  • Land Acres: 0.182
  • Standard Land Use Code: Recreational-vacant land
  • County Land Use Code: Personal property general
  • Legal Description 1: RAYS SUB L7 OL92

Ownership

  • Current Owner : CARMONE HOLDINGS LLC
  • Previous Owner : STELLARD INC
  • Owner Before Previous Owner: MILES HODGE
  • Ownership Rights Codes: unknown
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Indianapolis Public Schools
  • Census Tract: 356200

Zoning

  • Zoning: ZO01

Geography

  • Assessors Map Reference: 2337-D4
  • District: 0001
  • Section: 120
  • Parcel: 49-11-12-201-002.000-101
  • Lot: 7
  • Municipality: CENTER TOWNSHIP
  • Latitude: 39.7617
  • Longitude: -86.1463

    Address

  • Full Address: 324 S College Ave
  • Address - House Number: 324
  • Street Direction: S
  • Address - Street Name: College
  • Address - Suffix Type: Ave
  • State: IN
  • City Name: Indianapolis
  • Carrier Code: C013
  • 4-Digit Zip Code: 4008
  • Zip Code: 46202

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $977
  • Intital Tax Deliquent Year: 2021
  • Tax Rate Code Area: 101

    Market Valuation

  • Market Total Value: $60,000
  • Market Land Value: $60,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $60,000
  • Assessed Land Value: $60,000

    Sales

  • Current Sale Contract Date: Apr 14, 2023
  • Current Sale Recording Date: Apr 21, 2023
  • Current Sale Transaction ID: 11905757712
  • Current Sale Document Type: Special Warranty Deed
  • Current Sale Input Document Number: 31172
  • Previous Sale Recording Date: Mar 31, 2022
  • Previous Sale Contract Date: Mar 25, 2022
  • Previous Sale Amount: $215,000
  • Previous Sale Document Type: Warranty Deed

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
3 Beds
2.5 Baths
3,485 ft²
$194/ft²
$674,900 Oct 24, 2023
-
-
Condo
2 Beds
2 Baths
2,024 ft²
$289/ft²
$584,900 Nov 10, 2023
-
$350/mo
House
3 Beds
2.5 Baths
2,309 ft²
$314/ft²
$725,000 Dec 1, 2023
-
-
House
4 Beds
3.5 Baths
2,481 ft²
$224/ft²
$555,000 Aug 15, 2023
-
-
Condo
2 Beds
2 Baths
1,675 ft²
$328/ft²
$550,000 Sep 28, 2023
-
$592/mo
House
3 Beds
3 Baths
3,387 ft²
$221/ft²
$749,000 Oct 11, 2023
-
-

About Downtown Indianapolis


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Frequently Asked Questions

When was property at 324 South College Avenue built and last sold?
The property at 324 South College Avenue was built in 1950 and last sold on Apr 14, 2023 for $0.
How much is this home worth?
The estimated value of the home located at 324 South College Avenue is $656,500.
What are some comparable homes to 324 South College Avenue?
Homes that are comparable to 324 South College Avenue include a condo property at 735 Lexington Avenue, a house property at 540 East New York Street, a condo property at 1 Virginia Avenue.

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