304 W Hanna Avenue, Indianapolis, IN 46217
- $200,000
- 3
- BD
- 3
- BA
- 2,288
- SqFt
- Sold Price
- $200,000
- List Price
- $220,000
- Closing Date
- Jul 24, 2026
- MLS#
- 22102821
- Property Type
- Residential
- Bedrooms
- 3
- Bathrooms
- 3
- Sqft. of Residence
- 2,288
- Year Built
- 1910
- Days on Market
- 63
- Status
- SOLD
Property Description
Exceptional Value-Add Opportunity. Rarely does a canvas this expansive hit the market at this price point. Situated on a sprawling 2-acre lot in Indianapolis, 304 W Hanna Ave is the kind of acquisition that separates seasoned investors from the rest - a full-renovation opportunity with multiple income streams already baked into the bones of the property. The main residence offers 3 bedrooms and 1 full bathroom, with a full unfinished basement, providing the square footage and layout flexibility to reposition as a premium rental, a high-margin flip, or a long-term hold. The converted garage has already been transformed into a self-contained apartment living area, setting the stage for immediate rental income potential once renovations are complete - a built-in ADU play that most properties simply can't offer. Beyond the main structures, three separate storage buildings round out this remarkable footprint, offering additional storage rental income, workshop space, or conversion opportunities - each one an asset waiting to be unlocked. Location is where this deal truly shines. Positioned with quick access to I-465 and I-65. Minutes from Garfield Park, the University of Indianapolis, Southside dining, and established retail corridors, tenant demand in this pocket remains strong and consistent. Whether you're a buy-and-hold investor targeting cash flow, a contractor looking for your next high-upside project, or a developer eyeing the land play, the numbers and the story both work here. Properties with this combination of acreage, income versatility, and location access simply don't stay available. Bring your vision. The opportunity is ready.
Additional Information
- Basement
- Unfinished
- Foundation
- Block
- Stories
- Two
- Architecture
- Traditional
- Equipment
- Sump Pump
- Interior
- Hardwood Floors
- Exterior Amenities
- Barn Mini, Storage
- Acres
- 2
- Heat
- Baseboard, Forced Air
- Cooling
- Central Air
- Financing
- Conventional, FHA 203(k), SeeRemarks
- Appliances
- Dryer, Gas Water Heater, Gas Oven, Range Hood, Washer
- Region
- Perry
- Eating Areas
- Breakfast Room
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Listing courtesy of Ever Real Estate, LLC. Selling Office: .
Information Deemed Reliable But Not Guaranteed. © 2026 MIBOR Broker Listing Cooperative