CALLING ALL INVESTORS! Here is a Great Opportunity for a double lot in Drexel Gardens! This double lot provides ample opportunity for someone looking to build not just one but two possible homes. This lot can be kept as one large corner lot OR split into two if someone so desires! The split would provide two .11/acre lots that are easily buildable and a chance to maximize your return on investment! The corner lot with the garage had a house on it at one time and is connected to city utilities so it's ready to go and has a brand new garage door on it as well. Purchase will come with TWO sets of build plans for you to use if you wish. Why pay for new plans when these are at your disposal!? Located near all the major highways (I65, I69, I70, I74 & I465) this location is PRIME!! It's only 10-15 Minutes from: The Indianapolis International Airport, The Indianapolis Motor Speedway, Lucas Oil Stadium, Gainbridge Fieldhouse, Downtown Indy's Circle Center, Eagle Creek Reservoir and more! Once the house(s) are built, there could be year round short term rental revenue for events such as The Indianapolis 500, Brickyard 400, All Colts Games, All Pacer games, GenCon, Boat Sport & Travel shows, etc...Indy has conventions all year long and is known to be a great Host City. Why not build close to all the action?! Set up your showing today and let's make a deal happen!
Active
$97,997
4825 Melrose Ave, Indianapolis, IN 46241
--beds
--baths
9,583.2Square Feet
Unimproved Land, Residential Lots
Built in ----
9,583.2 Square Feet Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Double lotCorner lotConnected to city utilities
- 36 days
- on Zillow |
- 135 |
- 6 |
Zillow last checked: 7 hours ago
Listing updated: August 07, 2025 at 12:56pm
Listing Provided by:
Eric J Johnson 317-735-8345,
F.C. Tucker Company
Source: MIBOR as distributed by MLS GRID,MLS#: 22040254

Travel times
Facts & features
Interior
Video & virtual tour
Property
Lot
- Size: 9,583.2 Square Feet
- Features: Corner Lot, Corner
- Topography: Cleared,Level
Details
- Additional structures: See Remarks, Other
- Parcel number: 491118113223000900
- Zoning: Residential
- Zoning description: Single Family
- Horse amenities: None
Utilities & green energy
- Water: Public, Municipal Water on Site
Community & HOA
Community
- Subdivision: Drexel Gardens
HOA
- Has HOA: No
Location
- Region: Indianapolis
Financial & listing details
- Tax assessed value: $46,200
- Annual tax amount: $1,098
- Date on market: 7/8/2025
- Road surface type: Asphalt
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