1225 Vincennes ST, New Albany, IN 47150
1225 Vincennes ST, New Albany, IN 47150
1225 Vincennes ST, New Albany, IN 47150
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Shawne Mardis

Shawne Mardis

+1(502) 649-6720
$450,000
Est. payment /mo
0.27 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 202608920

Construction Status Resale

Year Built 1888

Annual Tax Amount $3,924

Lot Size 0.273 Acres

Acres 0.273

Property Sub-Type Multi Family

Property Description

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!

Location

State IN

County Floyd

Direction use gps

Interior

Fireplace No

Exterior

Present Use Multi-Family

Building

Construction Status Resale

Others

Tax ID 0086260120

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Listed by Lopp Real Estate Brokers
Shawne Mardis

"I have spent nearly 2 decades becoming an expert in Southern Indiana market trends and influences. Now, I'll put my considerable market background to work for you, helping you to identify the best deals, and price your home accurately to assure a quick sale, while maximizing profit. "

+1(502) 649-6720

smardis@movingwithmardis.com

8610 Chapel Hill Court, Charlestown, Indiana, 47130, USA

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1225 Vincennes ST

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