8-Unit in New Albany with Additional Development Potential

Investment Overview

We are please to present for sale this historic 8-unit apartment property located in the heart of Downtown New Albany’s prestigious Mansion Row. This beautifully restored Second Empire-style property combines historic character with modern apartment living. The building features seven 1-bedroom units and one studio, along with hardwood floors, distinctive architectural details, and off-street parking. With occupancy consistently at 100%, this is a rare opportunity for an investor to purchase a historic, cash-flowing property in a growing submarket. This lot also includes ample room for a buyer to develop a duplex or additional single family rentals towards the rear. Ideally positioned, this investment property is located within walking distance of downtown restaurants, shops, entertainment, the Ohio River Greenway, and New Albany’s riverfront amenities. The property offers investors an opportunity to own a unique, income-producing multifamily asset in one of Southern Indiana’s most established neighborhoods. Reach out to agents today with further questions or to schedule a showing.