545 E 38th Street, IN 46205

Property Description

A property with a colorful past and plenty of potential for its next chapter! Once home to medical offices, a flower shop, a hair salon, and a pharmacy, this unique Indianapolis property is currently configured as a duplex and zoned D-8. The main-level apartment is virtually move-in ready, and features one bedroom with an en suite full bathroom, a separate office, living room, kitchen, and laundry room/half-bath combination. Improvements include new living room flooring, ceiling, bulkheads, and recessed LED lighting, newly constructed walls to enclose the primary bathroom and separate the office from the bedroom, an added office closet, a kitchen, and a half bath. Upstairs, the studio-style apartment offers a combined living and sleeping area, a full bathroom, a remodeled kitchen, and fresh paint throughout. The furnace got a new circuit board in 2026, and the gas water heater is new. Both units have rear entrances, with an additional front entrance serving the main level. A paved parking lot occupies the rear portion of the property, providing convenient off-street parking. While there's still work to be done, the improvements already completed offer a head start for the next owner. Bring your imagination, your toolbox, and your vision for the possibilities!