[2025] Duplex, overlooking Eli-Lilly World HQ | 517 N. Prospect St
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[2025] Duplex, overlooking Eli-Lilly World HQ 517 N. Prospect St
2 Unit Block of Flats £586,838 (£293,419/Unit) 6.50% Net Initial Yield Indianapolis, IN 46203
Investment Highlights
- Proximity to Major Employers: Eli Lilly, IU Health, and numerous corporate offices are within walking distance, ensuring a steady stream of high-quali
- Enduring Cash Flow: With premium rental rates and high demand, this asset is set to deliver reliable returns for years.
- Pre-Permitted & Ready to Build: Save time and resources with plans and permits in place. Investors can break ground immediately, accelerating the path
- Downtown Conveniences: Walkable access to dining, entertainment, and cultural events in Indianapolis’s thriving downtown.
- Market Versatility: Dual-income opportunities—long-term leases and short-term rentals—maximize your investment’s earning potential.
Executive Summary
Investment Opportunity: High-End Downtown Indianapolis Duplex
Here’s your chance to own a pre-permitted and fully designed high-end duplex in the heart of downtown Indianapolis, allowing you to break ground immediately upon closing. With everything ready to go, this property is a rare turnkey opportunity for investors seeking to maximize returns in a prime urban market.
This premium duplex offers 3 bedrooms, 3 bathrooms, a basement, and a luxurious living space on the top floor in each unit. Located just steps away from Eli Lilly's headquarters—a Fortune 50 company—and within close proximity to Indianapolis’s downtown attractions, this property is designed with the end user in mind, making it a lucrative asset for decades to come.
Key Features:
Pre-Permitted & Ready to Build: Save time and resources with plans and permits in place. Investors can break ground immediately, accelerating the path to generating rental income.
Prime Location: Just a stone’s throw from Eli Lilly, IU Health campuses, and downtown Indianapolis, providing unmatched access to major employers and amenities.
Luxury Design: High-end finishes and thoughtfully crafted layouts cater to professionals, executives, and discerning tenants.
Rental Potential: Lease both units for $3,000+ per month to Eli Lilly scientists, executives, or other professionals in this thriving urban hub.
Short-Term Rental Option: One unit can easily be furnished for short-term rentals to capitalize on Indianapolis's vibrant events calendar, including sports games, concerts, conventions, and more.
Why Invest:
Turnkey Opportunity: With all designs and permits in place, investors can hit the ground running and start construction immediately.
High Demand Area: Downtown Indianapolis is experiencing rapid growth, with premium rental demand fueled by corporate and healthcare professionals.
Dual-Income Potential: Flexibility to choose between long-term tenants or lucrative short-term rentals to optimize cash flow.
Premium Location: Walking distance to dining, entertainment, and cultural attractions in downtown Indy.
This ready-to-build investment offers a unique opportunity to own a trophy asset in one of the Midwest’s most dynamic urban markets. Whether you’re building your portfolio or seeking a property with unmatched income potential, this duplex is the perfect fit.
Contact us today for more details and to secure this exceptional investment!
Here’s your chance to own a pre-permitted and fully designed high-end duplex in the heart of downtown Indianapolis, allowing you to break ground immediately upon closing. With everything ready to go, this property is a rare turnkey opportunity for investors seeking to maximize returns in a prime urban market.
This premium duplex offers 3 bedrooms, 3 bathrooms, a basement, and a luxurious living space on the top floor in each unit. Located just steps away from Eli Lilly's headquarters—a Fortune 50 company—and within close proximity to Indianapolis’s downtown attractions, this property is designed with the end user in mind, making it a lucrative asset for decades to come.
Key Features:
Pre-Permitted & Ready to Build: Save time and resources with plans and permits in place. Investors can break ground immediately, accelerating the path to generating rental income.
Prime Location: Just a stone’s throw from Eli Lilly, IU Health campuses, and downtown Indianapolis, providing unmatched access to major employers and amenities.
Luxury Design: High-end finishes and thoughtfully crafted layouts cater to professionals, executives, and discerning tenants.
Rental Potential: Lease both units for $3,000+ per month to Eli Lilly scientists, executives, or other professionals in this thriving urban hub.
Short-Term Rental Option: One unit can easily be furnished for short-term rentals to capitalize on Indianapolis's vibrant events calendar, including sports games, concerts, conventions, and more.
Why Invest:
Turnkey Opportunity: With all designs and permits in place, investors can hit the ground running and start construction immediately.
High Demand Area: Downtown Indianapolis is experiencing rapid growth, with premium rental demand fueled by corporate and healthcare professionals.
Dual-Income Potential: Flexibility to choose between long-term tenants or lucrative short-term rentals to optimize cash flow.
Premium Location: Walking distance to dining, entertainment, and cultural attractions in downtown Indy.
This ready-to-build investment offers a unique opportunity to own a trophy asset in one of the Midwest’s most dynamic urban markets. Whether you’re building your portfolio or seeking a property with unmatched income potential, this duplex is the perfect fit.
Contact us today for more details and to secure this exceptional investment!
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £586,838 | Property Subtype | Apartment |
| Price Per Unit | £293,419 | Lot Size | 0.06 AC |
| Sale Type | Investment | Construction Status | Proposed |
| Net Initial Yield | 6.50% | Building Size | 2,490 SF |
| Sale Conditions | Design & Build | Average Occupancy | 0% |
| No. Units | 2 | Number of Floors | 4 |
| Property Type | Residential |
| Price | £586,838 |
| Price Per Unit | £293,419 |
| Sale Type | Investment |
| Net Initial Yield | 6.50% |
| Sale Conditions | Design & Build |
| No. Units | 2 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Lot Size | 0.06 AC |
| Construction Status | Proposed |
| Building Size | 2,490 SF |
| Average Occupancy | 0% |
| Number of Floors | 4 |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Bay Window
- Ceiling Fans
- Granite Countertops
- Ice Maker
- Oven
- Stainless Steel Appliances
- Carpet
- Basement
- Double Pane Windows
- Freezer
- Vinyl Flooring
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+2.5 | 2 | £2,426 | 1,140 - 1,350 |
Walk Score ®
Very Walkable (76)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 49-11-12-101-010.000-101 | Total Assessment | £4,628 (2023) |
| Land Assessment | £4,628 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £0 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
49-11-12-101-010.000-101
Land Assessment
£4,628 (2023)
Improvements Assessment
£0 (2023)
Total Assessment
£4,628 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
| Zoning Code | D8 (In Indianapolis, the D-8 zoning district is designated for high-density residential development, primarily accommodating multifamily dwellings) |
| D8 (In Indianapolis, the D-8 zoning district is designated for high-density residential development, primarily accommodating multifamily dwellings) |
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Paradigm Construction & Development, LLC
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[2025] Duplex, overlooking Eli-Lilly World HQ | 517 N. Prospect St
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