1225 Vincennes Street, New Albany, IN 47150
sale
$450,000
|
Other
Courtesy Of Lopp-Dietrich Real Estate
Attention investors - turnkey income with built-in upside! This well-maintained 8-unit multifamily offers a versatile mix built for strong rental demand: six studios, one 1-bedroom/1-bath, and a spacious 2-bedroom/2-bath. Big-ticket items are already done - all electric and gas stove pipes updated in 2023, with multiple apartments renovated since 2023 featuring fresh neutral paint, durable luxury vinyl plank flooring, refreshed kitchens with painted cabinetry and updated hardware, gas ranges, refrigerators, and microwaves, plus updated baths with new vanities and fixtures. Classic character shines through with five-panel doors, craftsman-style trim, and a decorative fireplace mantel. Tenants enjoy abundant natural light, ceiling fans, ample closet storage, radiator heat, window AC units, and in-unit laundry in the largest unit. Currently 75% occupied with varying rent rates and clear room to grow rents - lease the remaining units and bring rates to market for instant value-add. Even more upside: an unused garage and additional space to build out next to the Dollar Store offer expansion potential, and the City of New Albany is slated to update the sidewalks and street along Vincennes - improvements coming right to your doorstep. Whether you're growing your portfolio or making your first multifamily move, this 8-plex hits the sweet spot: enough doors to spread risk, small enough to self-manage. Request the rent roll and schedule your showing today!
Read More About This Property
Read Less About This Property
Copyright © 2026 Southern Indiana REALTORS Association. 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.
Property Features
- Age: Over 50 Years Old
- Building Units: 8
- Legal Description: P.63 N 29' L.45 & ALL L.47
- MLSID: 202608920
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$475,000
Other
Blackiston Boulevard
New Albany, IN 47150
Land: 1.47 Acres
Courtesy Of Coldwell Banker McMahan
sale
$340,000
Other
1333 Bono Road
New Albany, IN 47150
Building: 3,440 sq. ft.
|
Land: 0.26 Acres
Courtesy Of Schuler Bauer Real Estate Services
sale
$315,000
Other
720 - 722 Pillsbury Lane
New Albany, IN 47150
Land: 1.23 Acres
Courtesy Of Keller Williams Realty Southern Indiana