N Kentucky Avenue
- Single-corridor portfolio — all three properties sit on same street, consolidating 66 units under one management footprint.
- Consistent vintage and construction — built 1978–1979, all brick construction, for a uniform maintenance profile.
- On-site laundry at two properties provides a source of additional revenue.
- Northside Evansville location — close to schools, shopping, restaurants, and major roadways.
- Manageable scale — 66 total units across three complexes, large enough for portfolio economics, small enough to self-manage.
Property Description
This offering presents three stabilized apartment communities — Dogwood Manor, Pinewood Apartments, and Olmstead Manor — as a single portfolio, all situated on N. Kentucky Avenue within the same Evansville, Indiana corridor. Combined, the properties total 66 units of similar vintage (built 1978–1979), giving a buyer scale and operational consistency within a tight geographic footprint rather than three disparate assets. The proximity of the three complexes to one another supports shared management efficiencies — a single maintenance presence, consolidated vendor relationships, and simplified oversight — that a buyer typically can't achieve when acquiring unrelated properties across a market. Dogwood Manor, located at 2770-2792 N. Kentucky Avenue in Evansville, is the largest of the three assets with 26 units spread across five buildings on 0.82 acres, with a mix of 1-bedroom studios, standard 1-bedroom units, 2-bedroom units, and 2-bedroom townhomes. Construction is brick and aluminum with gable/shingle roofing, built in 1979. The property offers on-site laundry. Olmstead Manor, at 2700–2704 N. Kentucky Avenue, offers 16 one-bedroom units on 0.37 acres, two floors of brick construction with a mansard/shingle roof, built 1979. A distinguishing physical feature: concrete floors on each level, a soundproofing detail from the original owner (an engineer). Units include dishwashers and disposals, and there's an on-site laundry facility. Pinewood Apartments sits at 2511 N. Kentucky Avenue on 0.55 acres across two buildings, comprising 24 one-bedroom units. Brick construction, gable/shingle roof, built 1978. Each unit has a full kitchen with full-sized appliances. All three properties sit on the northside of Evansville, close enough to schools, shopping, and restaurants that tenants aren't sacrificing convenience for affordability. The area draws from a broad mix of employers, and getting anywhere else in the city is easy given the quick access to the main roadways.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,647,000 |
| No. of Units: | 66 |
| Lot Size: | 1.83 Acres |
| Opportunity Zone: | No |
| Price per unit: | $55,258 |
| Property Website | Click Here |
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