Listing
$895,000
509 SE••••• First St (Sign up for 50 free credits to unlock)Evansville, IN 47713
Property Description
Rare opportunity to purchase three properties on one parcel-509, 509.5 and 511 SE First Street-offered together with a total of 11 doors. Located in Evansville's Historic District, the properties offer convenient access to Downtown Evansville, the riverfront and nearby amenities. Currently at 90% occupancy rate. The portfolio has seen several recent improvements, including a newer roof at 509.5 and a recently replaced roof and soffits at 511. A great opportunity for an investor looking to add multiple doors to their portfolio in an established Evansville location and is currently professionally managed.
Property Facts & Features
- Property Type
- Multi Family
- Status
- Active
- Listed
- Aug 2, 2026
- Price per Sq Ft
- $107/sqft
- ZIP Code
- 47713
- Full Baths
- 11
- Cooling
- Central Air
- Property Tax (2025)
- $12,432/yr
- Assessed Value
- $580,000
- Neighborhood
- Evansville South Side
- County
- Vanderburgh
- School District
- Evansville Vanderburgh Sch Corp
Estimated Value
Automated estimate. Not an appraisal.
Features & Amenities
Bedrooms
- Bedrooms: 15
Bathrooms
- Total Bathrooms: 11
- Full Bathrooms: 11
Land Info
- Lot Description: Historic District, Level, Historic Designation
- Lot Size Acres: 0.39
- Lot Size Dimensions: 112.5 x 150
- Lot Size Square Feet: 16988
- Wooded Area: 1
Utilities
- Sewer: City
Other Rooms
- Basement Description: Partial Basement
Rental Info
- Tenant Pays: Cable, Cooling, Electric, Heating
Commercial Info
- Net Operating Income: 92603.47
Multi-Unit Info
- Number of Buildings: 3
- Number of Units: 11
- Number of 1 Bedroom Units: 7
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 1
- Total Bathrooms in Unit-3: 1
- Total Bathrooms in Unit-6: 1
- Unit 1 Total Actual Rent: 675
- Unit 2 Total Actual Rent: 838
- Unit 3 Total Actual Rent: 700
- Unit 4 Total Actual Rent: 840
- Unit 5 Total Actual Rent: 625
- Unit 6 Total Actual Rent: 675
Interior Features
- Flooring: Laminate, Wood
Garage and Parking
- Parking Total: 2
School Information
- Elementary School: West Terrace
- High School: Francis Joseph Reitz
- Middle School: Perry Heights
- School District: Evansville-Vanderburgh School Co
Heating and Cooling
- Cooling Features: Central Air
- Heating Fuel: Gas,Forced Air
Other Property Info
- Source Listing Status: Active
- County: Vanderburgh County
- Directions: W on Washington Ave, R on Second, L on Mulberry, R on 1st Street
- Tax Year: 2026
- Inclusions: Building,Business,Land,Lease
- Area: Vanderburgh County
- Source Neighborhood: Vanderburgh County
- Owner Pays: Lawn Maintenance, Sewer, Trash Collection, Water
- Parcel Number: 82-06-30-020-075.009-029
- Township: Pigeon
- Property Subtype: Apartment Complex
Building and Construction
- Total Square Feet Living: 8327
- Year Built: 1919
- Above Grade Finished Area: 8327
- Building Exterior Type: Brick, Wood
- Property Age: 107
- Roof: Asphalt, Rubber, Shingle
- Levels or Stories: 2
- Total Area Sqft: 8327
Amenities and Community Features
- Off Street Parking
- Foyer Entry
Location
Lat 37.96529 · Lng -87.57098