324 S College Avenue Indianapolis, IN 46202

Other Residential MLS #: 22009400 Courtesy Of Keller Williams Indianapolis Metro North

$399,000

0.18 acres
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Estimated monthly payments: $1,744/mo.* (recalculate)

Property InformationDescription

WOW! Don't miss this rare chance to craft two modern masterpieces in one of Indianapolis' most sought-after neighborhoods. Nestled in the highly desirable Fletcher Place Historic District in downtown Indy, this large .18ac parcel is surrounded by a vibrant community of new builds and beautifully restored homes, making it a hub of growth and revitalization. The lot is ready to be split into two separate parcels so construction can begin on each build. The sale price includes approved design plans and permits for two stunning two-story luxury residences each featuring 4 bedrooms, 4.5 bathrooms, and a fully finished basement, offering nearly 4,000 sq ft of elegant living space. With both the city and IHPC already granting approvals, the construction process is streamlined, allowing you to separate the parcels, break ground immediately, and bring these designs to life. Whether you're an investor seeking a high-return project or an owner-occupant ready to design your dream home, this turnkey opportunity delivers both convenience and sophistication. The thoughtfully crafted plans set the stage for two luxury residences that blend timeless style with modern functionality, featuring high-end finishes throughout. With the projected home values exceeding $1M each, this is your chance to build equity and live in style in one of the city's most flourishing areas. Located in downtown Indy, these lots provide easy access to jobs, shopping, dining, and entertainment - perfect for those who appreciate a vibrant, active lifestyle. Architectural plans, appraisal reports, and detailed spec sheets for both builds are available for review, offering full transparency for discerning buyers. For those looking to maximize their investment, two additional lots at 828 N Oriental are available as part of a package deal, ready to be combined and built on. Seller is willing to offer a 10% discount on both if purchased together!
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Features

  • Architecture Style: Other
  • Lot Size: 0.18 Acres

MAP & DIRECTIONS

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324 S College Avenue, Indianapolis, IN 46202
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School Information

324 S College Avenue, Indianapolis, IN 46202

Elementary School
Grades PK-8 | Public School
IPS BUTLER UNIVERSITY LABORATORY SCHOOL 60
Indianapolis, IN 46205
3330 N Pennsylvania St
317.­226.4369
Distance: 3.8 mi
School Rating
C-
Student:Teacher Ratio
12:1
Total Students
585
Elementary School
Grades KG-8 | Public School
CENTER FOR INQUIRY SCHOOL 2
Indianapolis, IN 46202
725 N New Jersey St
317.­226.4202
Distance: 1.1 mi
School Rating
C+
Student:Teacher Ratio
11:1
Total Students
438
Elementary School
Grades PK-8 | Public School
FRANCIS PARKER MONTESSORI SCHOOL 56
Indianapolis, IN 46205
2353 Columbia Ave
317.­226.4256
Distance: 2.8 mi
School Rating
D+
Student:Teacher Ratio
8:1
Total Students
346
Elementary School
Grades PK-8 | Public School
URBAN ACT ACADEMY SCHOOL 14
Indianapolis, IN 46202
1250 E Market St
317.­226.4414
Distance: 0.7 mi
School Rating
D-
Student:Teacher Ratio
14:1
Total Students
321
Middle School
Grades PK-8 | Public School
IPS BUTLER UNIVERSITY LABORATORY SCHOOL 60
Indianapolis, IN 46205
3330 N Pennsylvania St
317.­226.4369
Distance: 3.8 mi
School Rating
C-
Student:Teacher Ratio
12:1
Total Students
585
Middle School
Grades KG-8 | Public School
CENTER FOR INQUIRY SCHOOL 2
Indianapolis, IN 46202
725 N New Jersey St
317.­226.4202
Distance: 1.1 mi
School Rating
C+
Student:Teacher Ratio
11:1
Total Students
438
Middle School
Grades PK-8 | Public School
FRANCIS PARKER MONTESSORI SCHOOL 56
Indianapolis, IN 46205
2353 Columbia Ave
317.­226.4256
Distance: 2.8 mi
School Rating
D+
Student:Teacher Ratio
8:1
Total Students
346
Middle School
Grades PK-8 | Public School
URBAN ACT ACADEMY SCHOOL 14
Indianapolis, IN 46202
1250 E Market St
317.­226.4414
Distance: 0.7 mi
School Rating
D-
Student:Teacher Ratio
14:1
Total Students
321
High School
Grades 9-12 | Public School
PURDUE POLYTECHNIC HIGH SCHOOL
Indianapolis, IN 46225
525 S Meridian St Ste Lla
317.­832.1200
Distance: 0.6 mi
School Rating
D-
Student:Teacher Ratio
22:1
Total Students
543
High School
Grades 9-12 | Public School
ARSENAL TECHNICAL HIGH SCHOOL
Indianapolis, IN 46201
1500 E Michigan St
317.­693.5300
Distance: 1.2 mi
School Rating
F
Student:Teacher Ratio
10:1
Total Students
2103
High School
Grades 9-12 | Public School
CRISPUS ATTUCKS HIGH SCHOOL
Indianapolis, IN 46202
1140 Dr Martin Luther King Jr St
317.­226.2800
Distance: 1.9 mi
School Rating
F
Student:Teacher Ratio
10:1
Total Students
1157
High School
Grades 9-12 | Public School
GEORGE WASHINGTON HIGH SCHOOL
Indianapolis, IN 46222
2215 W Washington St
317.­693.5555
Distance: 2.8 mi
School Rating
F
Student:Teacher Ratio
9:1
Total Students
798
High School
Grades 9-12 | Public School
SHORTRIDGE HIGH SCHOOL
Indianapolis, IN 46208
3401 N Meridian St
317.­226.2810
Distance: 3.9 mi
School Rating
D
Student:Teacher Ratio
9:1
Total Students
1077
Other Nearby Schools Distance Type Grades School Rating
Lumen Christi Catholic School 0.3 mi Private PK-12
Longfellow Stem Magnet Middle School 0.5 mi Public 7-8 C+
Holy Cross Central School 0.8 mi Private KG-8
William Mckinley Elementary School 39 0.9 mi Public PK-6 B-
Emmaus Lutheran School 1.0 mi Private PK-8
Se Neighborhood School Of Excellence 1.1 mi Public KG-8 D+
James A. Garfield School 31 1.2 mi Public KG-8 D
Paramount Cottage Home 1.2 mi Public KG-4 A
Trinity Christian School 1.2 mi Private PK-12
Invent Learning Hub 1.3 mi Public KG-7 D+
H. L. Harshman Magnet Middle School 1.5 mi Public 7-8 D+
Legacy Learning Center 1.5 mi Private PK-12
Theodore Potter Magnet Elementary School 74 1.5 mi Public KG-6 D+
Edison School Of The Arts 47 1.6 mi Public KG-8 C-
Thomas D. Gregg Elementary School 15 1.6 mi Public PK-6 C
Super School At Frederick Douglass School 19 1.8 mi Public KG-8 D-
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

Demographic Data

Indianapolis, IN 46202

Median Age: 32.3
Married: 20%
Number of Households: 11,155
Households with Children: 9%
  • Occupancy Types
    • 0 Vacant
    • 0 Owned
    • 0 Rented
  • Transportation to Work
    • 0 Drive
    • 0 Public Transportation
    • 0 Walk / Bike / Other
    • 0 Work at Home
Copyright © 2025 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.