Description

Located in the historic and highly sought-after Woodruff Place, 720 Woodruff Place W Drive presents a rare opportunity to own a character-rich, income-producing property in one of Indianapolis’ most iconic neighborhoods. Currently configured as an 8-unit property with a legal nonconforming use, the building includes 4 studio units, 3 one-bedroom units, and 1 two-bedroom unit, offering strong income potential and flexibility. Distinctive features include a grand upstairs ballroom and a separate carriage house-currently fully vacant-providing immediate value-add potential for additional rental income or creative use, along with a spacious basement offering expansion possibilities (buyer to verify). Zoned for 1-4 single-family use, the property allows for multiple exit strategies, including continued use as an investment or conversion back to a stunning single-family residence, all ideally located near Brookside Park and just minutes from downtown.