1301 Averitt Road, IN 46143

Property Description

Rare opportunity to own one of the last large residential investment properties in Greenwood! This approximately 5-acre, flat and usable property offers tremendous potential for builders, developers, and investors. Conveniently located approximately 20 minutes south of Downtown Indianapolis and just minutes from I-65, major shopping, parks, and highly rated Greenwood schools. The property is directly across from Greenwood Middle School and approximately half a mile from Greenwood High School and Freedom Park. Major utilities, including gas, electric, water, and sewer, are located along Averitt Road. Previous development plans outlined 13-20 duplexes, offering the potential for 26-40 total units subject to zoning and governmental approvals. The property also offers flexibility for custom home development, with potential lot sizes ranging from approximately 1/4-acre lots to larger estate-sized parcels. Currently on the property is an approximately 4,300-square-foot, 11/2-story home featuring 5 bedrooms, 3 bathrooms, 2 fireplaces, gas forced air, and central A/C. Additional improvements include an approximately 2,500-square-foot pole building, a 900-square-foot red barn, and a pool in need of improvements.