Northside Apartment Portfolio

Highlights:

• 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.

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.

The portfolio sits on N. Kentucky Avenue — U.S. Highway 41, Evansville's main north-south corridor — giving tenants direct access across the city and connections to I-64 and I-69 regionally. This places tenants within reach of Evansville's core employment base, including Deaconess Health System, Old National Bank, Berry Global, and Toyota Motor Manufacturing Indiana in nearby Princeton. The immediate area is well established with schools, retail, and dining nearby.

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