Center Homes with Apartment Basement

Center Homes with Apartment Basement

Welcome to the vibrant heart of Indiana—Indianapolis, a city that perfectly blends urban sophistication with Midwestern charm. Nestled in Marion County, Indianapolis is not just the state capital; it’s a thriving hub known for its rich history, diverse culture, and a community spirit that welcomes all.

One of the most appealing aspects of living in this dynamic city is the availability of homes featuring apartment basements. These unique properties provide an incredible opportunity for homeowners and investors alike. Imagine having a versatile space right beneath your feet—perfect for accommodating guests, creating a home office, or even generating rental income. The apartment basement concept is a fantastic way to maximize your living space while enjoying the comforts of suburban life.

Indianapolis boasts a variety of neighborhoods, each with its own distinct character. From the bustling streets of downtown, where you can enjoy world-class dining and entertainment, to the serene parks and family-friendly communities on the outskirts, there’s something for everyone. The city is also known for its excellent schools, vibrant arts scene, and numerous recreational activities, making it an ideal place for families, young professionals, and retirees.

Whether you’re looking to buy your first home or seeking an investment property, Indianapolis offers a diverse array of options. With homes featuring apartment basements, you can enjoy the flexibility and convenience of additional living space. Discover the charm of Indianapolis and make it your new home today!

Newest Center Homes with Apartment Basement

$3,400,000
Originally constructed in 1898 by local businessman Herman E. Martens, the building is a beautifully restored example of Classical Revival architecture, featuring unique pentagonal design elements, limestone detailing, and large bay windows. In the early 1990's the building was completely renovated and legally converted into 19 individual parcels. Martens HPR Unit #1 thru#19. The property was extensively renovated while preserving its historic character, offering residents a blend of vintage charm and modern convenience. The units have a combination of hardwood and vinyl flooring, new gourmet kitchens with stove, frig, microwave, dishwasher, disposal and granite/butcher block counters. Units have their own independent electric heat pumps for heating/cooling, electric water heater and 100-amp electric service. Today the building is operated as a 19-unit apartment house but could easily be converted to accommodate a multitude of investment opportunities. The building has nine-1 bedroom/one bathroom, one-1 bedroom/1.5 bathroom, eight- 2 bedroom/2 bathroom and one-2 bedroom/one bathroom. The buildings brick and limestone exterior, newer windows and updated electrical and plumbing keep maintenance cost low. Over the past few years, a new Firestone rubber membrane roof and two new Velux skylights have been installed. Situated near the intersection of Senate Avenue and Indiana Avenue, The Martens provides easy access to downtown Indianapolis attractions, cultural venues, restaurants, entertainment districts, and major employment centers. The building's central location within the Indianapolis Mile Square offer's easy access to both IU and Purdue's Indianapolis campuses (2 blocks to the west), Kroger's Grocery (1 block to the north), the Capitol Building (1 block to the south) and Lucas Oil Stadium (4 blocks to the south) The Martens offers a unique residential experience for those seeking historic character, a walkable downtown lifestyle in Indianapolis.

315 N Senate Avenue, Indianapolis

Listing courtesy of Kumler Realty.

$320,000
4 Beds ⋅ 4 Baths
Crafted by Mad River Homes, one of Indianapolis' respected renovation and building specialists, this north-side Downtown property blends quality, flexibility, and investment potential in a highly desirable location. Walk through the spacious front porch to arrive into the expansive foyer; where the whole home invites you in. The upstairs hosts the bedrooms and laundry, while the main level serves a perfect home for entertainment, formal dining, and preparing meals. Designed for versatility, this home features a layout that allows the upstairs and basement to be fully separated, creating an opportunity for an ADU or in-law suite. This configuration is ideal for a house-hack strategy, multi-generational living, or generating income from two distinct spaces. As an Airbnb, the upper unit could produce up to $3,500 per month and the lower unit up to $2,000. As a long-term rental, projected rents are approximately $2,000 upstairs and $1,000 downstairs. Mad River Homes also offers customization options tailored to your needs, including adding a garage. Perfect for entertaining, income generation, or providing separate living quarters; this property also qualifies for grant programs offering 0% down, no PMI, and a $5,000 credit toward closing costs. Just minutes from Butler University, Broad Ripple, Mass Ave, the Indianapolis Children's Museum, Eskenazi Hospital, Methodist Hospital, and IU Indianapolis, it offers immediate access to major educational, medical, and cultural anchors. Book your showing today and we look forward to calling this home yours!

3114 N Capitol, Indianapolis

Listing courtesy of FULL CANOPY REAL ESTATE, LLC.

$749,900
4 Beds ⋅ 4 Baths
Sitting atop a slight hill sits this beautiful country estate that blends modern upgrades with peaceful rural living. The main home features an inviting full-length front porch, a wide foyer with French pocket doors, and a great room with a fireplace and automatic blinds. The gourmet country kitchen offers quartz countertops, a large island, and a walk-in pantry, while the split floor plan ensures a private owner's suite. For multigenerational living or income potential. The private 1 bedroom apartment sits above the attached 2.5-car garage, complete with a separate entrance and chair lift. The full basement with full bath and woodburning stove is an excellent opportunity for a home theater, office, or extra living space. Outside, enjoy a screened patio, a separate barn with 2 garage doors perfect for an RV/boat workshop, and eco-friendly landscaping with native prairie grasses. Utilities include underground electric to preserve country views, an oversized well and septic system, and pre-plumbing for a backup generator as well as high speed internet.

3777 E County Road 150 S, Frankfort

Listing courtesy of F.C. Tucker Company.

$675,000
4 Beds ⋅ 5 Baths
Discover unparalleled modern living at 1448 Lexington AVE, Indianapolis, IN, USA. This single family residence, constructed in 2026, spans 2240 square feet and represents the pinnacle of contemporary design and comfort. This home is designed with an in-laws quarters in the basement and a carriage home above the garage. With four generously sized bedrooms, this home offers ample private retreats for family and guests. The four full bathrooms provide convenience and luxury, ensuring personal space for all, complemented by an additional half bathroom for everyday functionality. Spread across two stories, this property offers a thoughtful layout designed for seamless living and entertaining. The expansive 3746 square foot lot provides a private outdoor sanctuary, perfect for relaxation or gatherings. This is more than a home; it's a foundation for your future. Inquire today to schedule your private viewing.

1448 Lexington Avenue, Indianapolis

Listing courtesy of Highgarden Real Estate.

$439,900
4 Beds ⋅ 3 Baths
HISTORIC CHARM + FINISHED GUEST SUITE + INCREDIBLE LOCATION Rarely does a property offer this much flexibility, character, and timeless appeal. This beautifully preserved historic home combines original craftsmanship with versatile living spaces, making it an exceptional opportunity just minutes from downtown Indianapolis. Step inside and discover the details that make historic homes so special. Gorgeous hardwood floors, leaded glass windows, rich original woodwork, and inviting living spaces create warmth and character throughout. The main level offers multiple gathering areas, including a formal dining room perfect for entertaining, while the upper level features four spacious bedrooms filled with abundant natural light. What truly sets this home apart is the fully finished lower-level guest suite. Complete with its own kitchen area, living space, bedroom, full bath, and separate laundry facilities, this flexible space is ideal for extended family, visiting guests, multi-generational living, a private home office, creative studio, or recreation area. Outside, mature trees and a detached oversized garage complement the home's inviting outdoor spaces, creating a peaceful setting while remaining close to everything the city has to offer. Enjoy easy access to downtown Indianapolis, Fountain Square, local restaurants, entertainment, parks, and the exciting redevelopment that continues to make this area one of the city's most desirable neighborhoods. A beautiful historic home. A versatile finished guest suite. Endless possibilities for the way you live, work, and entertain. Schedule your private showing today and experience the character and flexibility that make 1622 English Avenue truly one of a kind.

1622 English Avenue, Indianapolis

Listing courtesy of No Limit Real Estate, LLC.

$594,900
3 Beds ⋅ 4 Baths
Newly constructed single family residence from 2023, presenting a truly luxurious home showcasing amazing design and top-tier materials. The kitchen serves as a central point, meticulously designed for both culinary artistry and social engagement. Beautiful countertops provide an expansive and durable surface for meal preparation, complemented by a high-end range oven and stovetop for exceptional cooking experiences, beautifully paired with an elegant backsplash. A wall chimney range hood stands as a prominent feature, ensuring a fresh atmosphere. The large kitchen island provides ample space for gathering, further enhanced by a convenient kitchen bar, all framed by a distinctive wood wall feature. The living room offers a comfortable retreat, designed for relaxation and enjoyment. Within this inviting space, a fireplace creates a focal point, providing warmth and an inviting ambiance for quiet evenings or social gatherings. The residence includes three full bathrooms and one half bathroom, each appointed with considered details. A tiled walk-in shower presents a luxurious and refreshing bathing option, crafted with elegant finishes. Beyond the interiors, opportunities for outdoor enjoyment abound. A dedicated outdoor living space invites residents to embrace the fresh air, complemented by a private rooftop patio for serene moments. A charming balcony offers an elevated vantage point, perfect for relaxation. This newly built residence offers a sophisticated living experience, meticulously crafted with discerning tastes in mind.

711 E 16th Street, Indianapolis

Listing courtesy of CENTURY 21 Scheetz.

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