Indianapolis Homes with Apartment Basement

Welcome to Indianapolis, the vibrant heart of Indiana and a city that beautifully blends rich history with modern living. Nestled in Marion County, Indianapolis is known for its friendly atmosphere, diverse culture, and thriving economy. With a population that embraces both tradition and innovation, this city offers a unique lifestyle that caters to everyone—from young professionals to growing families.

One of the standout features of homes in Indianapolis is the availability of properties with apartment-style basements. These versatile spaces provide an excellent opportunity for homeowners seeking extra living areas or rental income potential. Imagine having a fully equipped apartment basement that can serve as a private retreat for guests, a cozy home office, or even a rental unit to help offset your mortgage. The possibilities are endless!

Indianapolis boasts a plethora of neighborhoods, each with its own distinct charm. From the historic streets of Fountain Square to the bustling energy of Broad Ripple, you'll find homes that cater to various tastes and lifestyles. Many properties with apartment basements are situated in family-friendly areas with access to top-rated schools, parks, and local amenities.

Beyond the homes, Indianapolis is rich in attractions and activities. Enjoy a day at the Indianapolis Motor Speedway, explore the vibrant arts scene in the downtown area, or take a leisurely stroll along the picturesque Canal Walk. With a strong sense of community and a wealth of opportunities, Indianapolis is not just a place to live—it's a place to thrive. Come discover your dream home with an apartment basement in this dynamic city!

Newest Indianapolis Homes with Apartment Basement

$350,000

2 Beds ⋅ 2 Baths

Classic Meridian-Kessler Charm with Dual-Living & House-Hacking Potential! Welcome to this updated 1920s bungalow in the heart of Midtown/SoBro, offering exceptional character, turn-key updates, and rare multi-generational or rental income versatility. The main level boasts beautifully refinished original hardwood floors, crown molding, classic built-in features, four ceiling fans throughout the main level, and a cozy gas fireplace insert for effortless warmth and ambiance. The main kitchen features brand-new granite countertops, a glass-top range, a built-in microwave, and a dishwasher, complemented by main-floor high-efficiency laundry. Relax and unwind on the covered front porch-a classic Midtown staple-overlooking tree-lined College Avenue. Flexible Lower-Level Suite (Airbnb / Guest / Tenant Ready): The fully finished basement includes its own dedicated exterior access with separate locks, making it an ideal setup for a short-term rental, long-term tenant, or private guest suite. This space features a second living room, a full second kitchen with new granite countertops, a full bath, a second washer/dryer set, a large window, and flexible space previously utilized as a 3rd bedroom or home office. Key Upgrades & Specs: Major Capital Improvements: Brand-new roof (2026), vinyl siding and soffits, double-pane vinyl windows, updated electrical, updated plumbing, central A/C, and gas heat. Parking & Storage: Dedicated paved off-street parking behind the home plus ample front street parking. Excellent storage with multiple closets, including a walk-in closet. Unbeatable Walkable Location: Positioned half a block from the 52nd Street Red Line station and steps from the Monon Trail. Walk to over 28 local spots including The Fresh Market, Fat Dan's, The Jazz Kitchen, Yats, Twenty Tap, The Aristocrat, The Red Key Tavern, and Mama Carolla's. Just minutes to Butler University, Broad Ripple Village, and 54th Street Shops.

5265 N College Avenue, Indianapolis

Listing courtesy of Garrett Lickliter. Lickliter Realty Services LLC

$419,000

4 Beds ⋅ 3 Baths

Welcome to this stunning 4-bedroom, 2.5-bath home offering nearly 4,000 sq. ft. of beautifully updated living space in one of Indy's premier locations! Step inside to find fresh paint throughout and brand-new, plush carpet in all the bedrooms, making this home completely move-in ready. The main level features an updated chef's kitchen designed for both daily life and entertaining, seamlessly flowing into bright, expansive living areas. Upstairs, the oversized primary suite serves as your own private retreat, complete with generous space to relax and unwind. Need extra room? The expansive finished basement offers endless flexibility-perfect for a home theater, gym, game room, or extra living area.

8546 Walden Trace Court, Indianapolis

Listing courtesy of Luke Reiter. eXp Realty, LLC

$529,000

4 Beds ⋅ 3 Baths

Seller offering FREE home warranty! Welcome to a beautifully updated and meticulously maintained custom home! Step inside to discover fresh paint and brand-new flooring (2026), classic real wood trim, faux ceiling beams, and new LED lighting (2023). Enjoy absolute peace of mind with extensive high-ticket upgrades, including a newer roof (2021), a brand-new AC system (2023) with cleaned air ducts and extra insulation, new skylights (2024), a Smart Infinity thermostat, a new sewage pump (2024), and a new sump pump (2026). The eat-in kitchen features a center island with high-end convection oven, while dining room is a show stopper with wood tray ceiling and new LVP flooring. The primary suite offers a luxurious retreat complete with grand double doors, a gas fireplace, dual sinks, an upgraded AC unit, a separate shower, and a massive jetted tub. Three of the four spacious bedrooms boast walk-in closets, and an additional full bath includes a walk-in senior tub. Looking for an apartment in a walk out basement? The versatile walk-out basement features a full apartment (with kitchen and full sized fridge). It opens directly to a serene screened porch and private, wooded backyard filled with thriving fruit trees (nectarine, plum, peach, lemon), raised garden beds, and a French drain system. Rounding out this remarkable property is a generous 3-car garage outfitted with a full wall of custom cabinets! Washing Machine and Dryer stay. The durable exterior siding backed by a lifetime warranty-makes this turn-key residence an irresistible opportunity!

9037 Pinecreek Way, Indianapolis

Listing courtesy of Sarah Jane Johnson. F.C. Tucker Company

37 W Fall Creek Parkway South Drive, Indianapolis

$725,000

Rare investment opportunity in the Near Northside/Fall Creek Place corridor: a 1913 Craftsman fourplex with four legal units and 10 bedrooms across approximately 6,400 SF, already operating as a hybrid short-term rental and long-term primary residence with a potential cap rate approaching 9-10%. The main floor and full basement (7 bedrooms) run as an established, Superhost-rated Airbnb with a proven booking history - seller is offering a 3-6 month co-hosting transition so a buyer inherits the reviews and ranking rather than starting from zero. The upper floor is a spacious 3BD/2BA suite currently owner occupied. Original inlaid hardwood floors, tiled fireplaces, and custom millwork throughout, plus an original tile roof with a matching surplus of spare tiles included. Recent updates: full exterior repaint, all ~75 original windows and storm windows repaired, 2024 condenser replacement, HVAC service plans maintained on both systems, newer water heater/softener. Electric separately metered per unit. Off-street parking on two street frontages plus a one-car garage. Sold furnished, with the active short-term rental operation available to convey for a true turnkey opportunity. Buyer may also have the option to assume the seller's existing financing balance of 375k at 3% - a rate well below today's market - ask listing agent for details. Occupied; please do not disturb. Showings by appointment only.

37 W Fall Creek Parkway South Drive, Indianapolis

Listing courtesy of Alexander Foley. Liz Foley Real Estate, Inc.

$240,000

4 Beds ⋅ 3 Baths

Welcome to 3516 Salem Street in Indianapolis-a beautifully updated home offering a fantastic combination of modern improvements, flexible living space, and an incredibly convenient location just minutes from Downtown Indianapolis. The remodeled basement, completed in 2023, adds valuable additional living space and features a custom kitchen with stainless-steel appliances, custom cabinetry, and quartz countertops, along with a bedroom. The newly installed full bathroom is sure to impress and improves function. The finished basement also offers the potential for additional rental or income-producing use, with the seller estimating approximately $1,000 per month in potential income. Connections are already in place for a separate in-unit laundry setup. Additional improvements include new flooring installed in 2024, appliances purchased in 2023 that will remain with the home, a new privacy fence installed in 2023, and a new deck built in 2025-creating an inviting outdoor space for entertaining, relaxing, or enjoying the warmer months. Location is another major highlight. Situated approximately 6 minutes from Downtown Indianapolis, you'll have convenient access to restaurants, entertainment, sporting events, shopping, employment centers, and everything the city has to offer. Families will also appreciate the proximity to The Children's Museum of Indianapolis, located approximately half a mile away. Ownership of this home may have access to free annual passes to the children's museum if you apply. With thoughtful updates, a finished basement offering flexible possibilities, newer major improvements, and a prime Indianapolis location, 3516 Salem Street is a property that offers both immediate comfort and long-term potential. Come see everything this home has to offer!

3516 Salem Street, Indianapolis

Listing courtesy of Dennis Weaver. My Agent

$269,900

4 Beds ⋅ 3 Baths

$5,000 grant and/or 100% financing available - some restrictions apply, inquire for details. 4 bedrooms plus an office, original hardwoods and wood trim, updated kitchen with new 2025 appliances, and a finished basement with egress, bonus room, and a second full kitchen - live in it, rent the lower level, or keep it all for yourself. Walkable to the Monon Trail and the Red Line, one block from Historic Watson Park, with easy access to downtown and Broad Ripple. New furnace 2026, new windows, french drain/dry well/sump pump (2021), 2-car garage plus driveway parking for 6, and a huge fenced backyard.

3521 Guilford Avenue, Indianapolis

Listing courtesy of Randy Wasmuth. Highgarden Real Estate

$615,000

4 Beds ⋅ 3 Baths

Be impressed from the moment you step inside this beautifully designed 2017-built home, tucked away on a quiet cul-de-sac with easy access to a nearby walking trail. Offering 4 bedrooms, 3 full baths and a 3-car garage, this spacious open-concept home combines comfortable everyday living with exceptional entertaining space. The heart of the home features granite countertops, stainless steel appliances, an apron-front sink and an oversized dining area with plenty of room for family and friends. The inviting hearth room flows into a beautiful sunroom filled with natural light-the perfect place for morning coffee, a favorite book or simply relaxing. Step outside and enjoy the large composite deck and private outdoor space. The impressive primary suite offers a tray ceiling, abundant natural light, large vanity, oversized walk-in double shower and generous walk-in closet. Large closets throughout, a convenient mudroom/laundry combination and abundant storage make this home as functional as it is beautiful. The fully finished 3-car garage features durable epoxy flooring for a polished finishing touch. The finished basement is an entertainer's dream and offers incredible flexibility! A full second kitchen, bedroom and full bath create an ideal private space for overnight guests or extended stays. There's room for everyone with separate areas for games, exercise, play and media, plus plenty of natural light and an exceptionally large storage area. Conveniently located near Eagle Creek Park, shopping, dining and everyday amenities, with Downtown Indianapolis just minutes away. Spacious, bright and versatile with room to gather, entertain, work, play and relax-this is a home designed to be enjoyed! Shedule your private tour today!

7435 Irick Court, Indianapolis

Listing courtesy of Nicole Lyon. F.C. Tucker Company

$565,000

3 Beds ⋅ 4 Baths

Amazing Townhome with Rooftop & 3 bed, 3.5 baths in the Old Northside part of Downtown Indy, right down the street from the Bottleworks district and two blocks off the Monon. Home features top of the line Appliances, Tons of cabinet space, island with bar top seating, Accent wall in the Kitchen, Remote operated Blinds on Main Floor and Custom blinds on 1st & 3rd floor bedrooms, Reverse Osmosis System, Tankless Hot Water System, Wi-Fi Thermostat and 1/2 main floor guest bath. Bottom Floor has large shoe cubby with bench/hooks built-in to wall plus coat closet and Bedroom complete with large closet, ensuite full bath and separate entrance/terrace. Kitchen Deck with Composite Decking, 2 car garage with Mobile App. 2 large Bdrms on 2nd floor both with ensuite baths and large walk-in closets. ROOFTOP with amazing views and outdoor lighting. Washer and Dryer incl. Home is currently operating as STR which can be turned over to next owners if they want to continue to operate. All furniture is very high quality and negotiable.

711 E 16th Street, Indianapolis

Listing courtesy of Jeffrey Boller. Vision One Real Estate

$329,900

3 Beds ⋅ 2 Baths

Incredible opportunistic investment property in the heart of Broad Ripple. This truly is an unbeatable location close to the Monon Trail and the areas finest amenities. This property is a zoned a single family residence (originally 3 bedrooms) with unfinished basement that has gone through major modifications to make it a 4-unit rental. Unit A located in the original main house consists of 3 bedrooms and 2 bathrooms. 1 bathroom is a converted closet. There is no closet in one of the bedrooms. There is no dedicated living space, just a kitchen area and some open space. Unit B (main and attic area) is 2 bedroom and 1 bath. There is a small bedroom on the main floor and stairs to an upper attic area that contains a second bedroom. There is also a kitchen area. Unit C (back of house) is a converted porch that contains an efficiency unit. Included is a living space, small kitchen, and bathroom. Unit D (basement) has a kitchen area and a bathroom. There is no egress but the unit has an area for a sleeping quarters. Property also has a large 2-car garage for tenant storage. Please read private remarks for more information.

5917 Carrollton Avenue, Indianapolis

Listing courtesy of Brian Pachciarz. Estansion Group by BLP

$2,900,000

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 Taylor Kumler. 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 Alexander Moore. FULL CANOPY REAL ESTATE, LLC

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Listings courtesy of MIBOR Broker Listing Cooperative as distributed by MLS GRID.

Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker of MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some listings have been excluded from this website.

Indianapolis Homes with Apartment Basement

Newest Indianapolis Homes with Apartment Basement

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