Lots of UPSIDE in a very well maintained 42 unit all brick apartment building! 5.9% cap rate with a potential 12.7 cap rate based on a 95% occupancy! Separately metered electric and gas. Owner pays water and trash removal. Coin Laundry facility on site. Near busline, interstate, shopping, hospital, and restaurants. 15 minutes from downtown Indy. A great way to step up your portfolio!
MIBOR as Distributed by MLS Grid #2935484
May 8, 2011
Listing Removed
—
Jul 16, 2009
Listed
$700,000
$18/sq ft
MIBOR as Distributed by MLS Grid #2117971
Oct 17, 2001
Listing Removed
—
Apr 18, 2001
Listed
$749,900
$19/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$19,897 (+19.0%)
$121,200 + $684,000
$805,200
2024
$16,724 (+16.3%)
$121,200 + $543,900
$665,100
2023
$14,380 (+26.8%)
$121,200 + $543,900
$665,100
2022
$11,344 (+14.8%)
$121,200 + $446,600
$567,800
2021
$9,877 (−7.9%)
$110,100 + $281,100
$391,200
2020
$10,721 (+2.8%)
$110,100 + $281,100
$391,200
2019
$10,431 (−0.6%)
$110,100 + $317,300
$427,400
2018
$10,489 (+1.0%)
$110,100 + $298,100
$408,200
2017
$10,383 (+8.1%)
$110,100 + $344,300
$454,400
2016
$9,602 (+1.8%)
$110,100 + $344,300
$454,400
2015
$9,431 (+3.9%)
$110,100 + $318,100
$428,200
2014
$9,080 (+4.0%)
$110,100 + $318,100
$428,200
2013
$8,731
$110,100 + $309,900
$420,000
Tax history for 2302 N Ritter Ave
Year
Property tax
Land + Additions
Assessment*
2025
$19,897 (+19.0%)
$121,200 + $684,000
$805,200
2024
$16,724 (+16.3%)
$121,200 + $543,900
$665,100
2023
$14,380 (+26.8%)
$121,200 + $543,900
$665,100
2022
$11,344 (+14.8%)
$121,200 + $446,600
$567,800
2021
$9,877 (−7.9%)
$110,100 + $281,100
$391,200
2020
$10,721 (+2.8%)
$110,100 + $281,100
$391,200
2019
$10,431 (−0.6%)
$110,100 + $317,300
$427,400
2018
$10,489 (+1.0%)
$110,100 + $298,100
$408,200
2017
$10,383 (+8.1%)
$110,100 + $344,300
$454,400
2016
$9,602 (+1.8%)
$110,100 + $344,300
$454,400
2015
$9,431 (+3.9%)
$110,100 + $318,100
$428,200
2014
$9,080 (+4.0%)
$110,100 + $318,100
$428,200
2013
$8,731
$110,100 + $309,900
$420,000
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Permits
Beds
—
Baths
—
Stories
2
Lot width
—
Lot depth
—
Lot size
2.01 Acres
Year renovated
1969
Sq. Ft.
38,967
Year built
1969
Style
Other
County
Marion County
APN
490727103002000701
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 29, 2026.
D4
AIRSPACE SECONDARY ZONING DISTRICT
COMPACT
Dwelling District Four
The D-4 District is intended for low or medium intensity single-family and two-family residential development. Land in this District needs good thoroughfare access, relatively flat topography, and nearby community and neighborhood services and facilities with pedestrian linkages. Provisions for recreational facilities serving the neighborhood within walking distance are vitally important. Trees fulfill an important cooling and drainage role for the individual lots in this District. The D-4 District has a typical density of 4.2 units per gross acre. This District fulfills the low density residential classification of the Comprehensive General Land Use Plan. All public utilities and facilities must be present. Development plans, which may include the use of clustering, should incorporate and promote environmental and aesthetic considerations, working within the constraints and advantages presented by existing site conditions, including vegetation, topography, drainage and wildlife.
Zone overlays
Airspace Secondary Zoning District
Compact Context Area
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Housing-Multiple units
Communications tower
Housing-Mobile home park
Park & open space
Mar 30, 2022 • Active
Self certification tag
Electrical
Feb 28, 2022 • Active
Self certification tag
Electrical
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Property details
Public facts
Beds: —
Baths: —
Sq. Ft.: 38,967
Stories: 2.0
Lot Size: 2.01 acres
Style: Other
Year Built: 1969
Year Renovated: 1969
County: Marion County
APN: 490727103002000701
Home facts updated by county records on Jul 29, 2026
Around this home
Schools
Arlington Woods School 99
Public PreK-6 • Assigned • 0.7mi
4/10
KIPP Indy Legacy High
Charter 9-12 • Assigned • 2.9mi
4/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 101° expected this year, 18 days in 30 years
2/10 Wind Factor
0% chance of strong winds in next 30 years
4/10 Air Factor
5 unhealthy days expected this year, 7 days in 30 years
Provided by First Street
Historical weather
Indianapolis, IN • 46218
Average low and high temperatures (°F)
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71
49
54
39
42
28
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Sun exposure
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