7-unit apartment building generating over $5,000 in monthly gross income! Each unit features 1 bed & 1 bath. Investors, this is your dream asset for an unbeatable price in Anderson! With renovations accomplished throughout the last 2+ years & a historically strong rental demand, this is a true cash flowing investment!!!
Multi-familyProperty Type
1906Year Built
4,792 sq ftLot Size
$12Price/Sq.Ft.
Listed by Stuart Houghton• Keller Williams Indy Metro Partners
7-unit apartment building. 3 units downstairs and 4 upstairs. The property is all electric and owner pays utilities. All units are currently rented out. This will make a great investment property!
MIBOR as Distributed by MLS Grid #21460141
Jan 26, 2017
Listing Removed
—
Jan 12, 2017
Listed
$149,900
$6/sq ft
MIBOR as Distributed by MLS Grid #21266475
Jan 30, 2014
Listing Removed
—
Jan 29, 2014
Sold
$43,000
$2/sq ft
Nov 25, 2013
Listed
$49,900
$2/sq ft
MIBOR as Distributed by MLS Grid #21113702
Aug 8, 2011
Listing Removed
—
Mar 28, 2011
Listed
$20,000
$1/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$2,893 (−20.7%)
$5,500 + $158,600
$164,100
2024
$3,647 (+171.7%)
$5,500 + $158,600
$164,100
2023
$1,342
$5,500 + $158,600
$164,100
2022
$1,342 (−0.6%)
$8,400 + $51,600
$60,000
2021
$1,350 (−0.4%)
$8,400 + $51,600
$60,000
2020
$1,356 (−25.3%)
$8,900 + $51,100
$60,000
2019
$1,814 (+7.8%)
$8,900 + $51,100
$60,000
2018
$1,683 (+52.9%)
$9,200 + $50,800
$60,000
2017
$1,101 (+51.0%)
$5,500 + $30,000
$35,500
2016
$729 (+2.7%)
$5,500 + $30,000
$35,500
2015
$710 (+40.3%)
$5,500 + $30,000
$35,500
2014
$506
$5,500 + $30,000
$35,500
2013
$506
$5,500 + $19,800
$25,300
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
2
Lot width
—
Lot depth
—
Lot size
4,792 Sq. Ft.
Year renovated
1988
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
3,360
Year built
1906
Style
Other
County
Madison County
APN
481113103030000003
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 10, 2026.
I-1
Industrial District
This district will incorporate most of the existing industrial developments and provide for their expansion. Generally the permitted uses will include only those where all of the operations, including the storage of materials, are confined within a building and the performance characteristics are compatible with uses permitted in neighboring districts. Residences and business are permitted.
Permitted uses
Include but are not limited to:
Gas station
General retail
Retail-Grocery
Restaurant
Tavern / bar / nightclub / micro-Brewery
Housing-Single unit
Housing-Multiple units
Self-Storage / mini-Storage
Hotel / motel
Office
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 100° expected this year, 18 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
3/10 Air Factor
2 unhealthy days expected this year, 3 days in 30 years
Provided by First Street
Historical weather
Anderson, IN • 46016
Average low and high temperatures (°F)
31
16
40
24
59
38
67
46
71
52
82
64
86
69
80
62
81
57
69
46
53
38
40
26
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 1615 Main St
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