About This Home

This 0-bedroom, 0-bathroom commercial at 506 Lawrence Avenue in Indianapolis, IN is listed for $225,000. Built in 1954, on a 0.26 acres lot.

Key Features

  • Built in 1954
  • 0.26 acre lot

Property Details

1954

Amenities

A/C
Listing Description

Looking for a High Visibility Property with multiple ways to create value? This Spacious Bedford Stone Ranch offers a flexible layout, full basement, finished 2-car attached garage, and potential for residential, investment, or commercial use-all in a convenient Indianapolis location.

The main level features 3 bedrooms, 1.5 baths, newer luxury vinyl plank flooring, vinyl windows, an updated bathroom, and a spacious layout that feels significantly larger than 2,000 square feet. The full basement is where the possibilities really open up.

Two separate rooms with closets offer potential for offices, guest rooms, hobby spaces, or possible additional bedrooms. For investors, the flexible floor plan could lend itself to several strategies. Explore the potential for an Airbnb/short-term rental, long-term rental, or a house-hacking opportunity where an owner occupies one portion while utilizing other areas for additional income.

The layout may also allow the upper/main living area to be separated into additional living quarters(creating a duplex) with a separate entrance from the garage,. The property also offers potential Commercial Space for business, office, retail, medical etc.

Major improvements include a high-efficiency furnace and air conditioner replaced within the past 3-4 years, PEX water lines, and 200-amp electrical service. The attached 2-car garage is finished, providing valuable parking, storage, or workspace. And don't overlook the covered front porch-a great spot for morning coffee before taking advantage of

the home's convenient location near shopping, schools, parks, major highways, downtown Indianapolis, and Greenwood. One property. Multiple possibilities. Whether you're looking for a rental, Airbnb opportunity, house hack, commercial/residential flexibility, or a property you can reconfigure and add value to

Monthly Cost Estimate

$1,203/mo

20% down · 6.5% · 30 years

Principal$163
Interest$975
Insurance$66

Estimates only. Actual payments may vary.

Location

506 Lawrence Avenue

Indianapolis, IN 46227

Property Details

Heating

Natural GasForced Air

Cooling

Central Air

Questions & Answers

This 0-bedroom, 0-bathroom commercial at 506 Lawrence Avenue is listed at $225,000. The estimated monthly payment is $1,204 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1954, 0.26 acre lot.

This property is listed by Andy Ludlow.

AL

Andy Ludlow

Agent at eXp Realty

Listed by eXp Realty · Broker phone: (812) 734-6048 · Broker website

MLS# 22123860· Source: Broker Listing Cooperative®· 58 days on PropertySimple

Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

506 Lawrence Avenue, Indianapolis, IN 46227

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