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Justin Wade

justin.wade@amr.group +1(317) 358-7049

Listed by Tyler Lingle • @properties

$ 1,550,000

Est. payment -/mo

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20620 Little Chicago RD Noblesville, IN 46062

0.47 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Subdivision No Subdivision

MLS Listing ID 22038527

Year Built 1973

Tax Year 2024

Lot Size 0.470 Acres

Acres 0.47

Property Sub-Type Fourplex

Property Description

INCREDIBLE opportunity that only comes around once in a blue moon in the Indianapolis area! Rare, lakehouse investment property with four units including a 5-bedroom high-performing STR unit. The Airbnb/STR features a game room overlooking the lake, bunkhouse room (unit can sleep 22 total), large dining area with two banquet tables, multiple decks for lounging / taking in views, recreational equipment (kayaks, row boats, etc.), and more! Perched on the southwest corner of the lake with a stunning view Morse Reservoir, this property comes with 7 boat slips, allowing immediate access onto the waters for boating. Let's talk numbers because property cranks cash flow -- the STR unit grossed over $129K in 2024 (~$10,800 / mo). With over $97K in revenue on the books in 2025, is set to out-compete this year. Two of the units are rented to long-term residents, bringing in a stable backbone of cash flow -- 2-bedroom unit rented for $2000 / month, and a Studio apartment rented for $1100 / month. The last unit, the "Owner's Suite" is vacant, and ready for personal use or another rental income source (estimated at $1700 / mo). This one bedroom unit features a recently high-end remodeled bathroom w/ tiled surround, as well as a comfy loft for more heads to sleep. The projected revenue is $16,300 / mo, or just over $195K / year for this high-performing investment property. Use for personal recreational use just 30 mins outside Indy, further optimize it for a lucrative multifamily/STR investment, or buy it and convert to a single family home with ADU... Endless options here! Updates include roof, siding, gutters ('23), 74 new vinyl windows, 2 units have new HVAC, upgraded docks w/ floaters, new LVP flooring in Airbnb unit. Noblesville has recently completed a boardwalk & retaining wall along Little Chicago Rd. Property sits 13 mins to Grand Park in Westfield, which hosts over 5 million annual visitors / yr. Snag this one while you can!

Location

State IN

County Hamilton

Zoning Residential

Rooms

Basement Apartment, Finished, Walk Out, Exterior Entry

Interior

Heating Forced Air, Natural Gas

Cooling Window Unit(s)

Fireplace N

Exterior

Garage Spaces 3.0

View Y/N true

View Trees/Woods, Water, Forest

Roof Type Asphalt

Building

Story Three Or More

Foundation Slab

Architectural Style Contemporary

Structure Type Brick,Cement Siding

New Construction false

Schools

Elementary Schools Hinkle Creek Elementary School

Middle Schools Noblesville West Middle School

High Schools Noblesville High School

School District Noblesville Schools

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Justin Wade

Managing Broker & VP, Residential | RB RB18001552

+1(317) 358-7049

justin.wade@amr.group

amr.group/agents/Justin_Wade/8550225

Indiana & Nevada

Justin Wade

20620 Little Chicago RD Noblesville, IN 46062

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

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20620 Little Chicago RD