Duplex & Multi Family For Sale in Culver, Evansville

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.

Expand your investment portfolio with this well-maintained fourplex ideally located in the heart of the Historic District, just steps from Haynie’s Corner. Each unit offers private entrances, tall windows, abundant natural light, and included appliances. Gas and electric are separately metered for each unit, while the owner covers water, sewer, and trash service. All four units feature central heating and air conditioning, along with separate newer water heaters. Extensive updates completed within the past two years include fresh paint, updated flooring, newer appliances, and modern finishes throughout, making this a turnkey investment opportunity in a highly desirable location.

Attention Investors! Are you looking for a performing and remodeled 4 unit apartment building in downtown Evansville? This is it! This building has been remodeled in the past 2 years. Roof - 1 Year old | All HVAC's - 2 Years old | All Water heaters - 2 years old | Windows, doors, flooring (LVP), kitchens, bathrooms, lights, paint, trims, and more, all within the past 2 years! Tenant pays for electric and gas The landlord pays for water/sewer/trash. Each unit is individually plumbed in the basement, so you can take over and install sub-meters to bill water directly to the tenant if you want to. Total Current Rent $3,040/m | Unit A - $765/m - Market rent is $775-800 | Unit B - $725/m - Market rent is $775-800 | Unit C - $775/m | Unit D - $775/m

In the heart of Evansville’s Haynie’s Corner Arts District, between the riverfront and downtown, this beautifully updated Italianate property blends mid-19th-century character with modern investment appeal. Originally built circa 1850, it now offers four luxury apartments plus a spacious one-bedroom carriage house apartment above an oversized two-car garage. Together, these units generate approximately $68,000 in annual gross rent. The right-side owners’ unit underwent a complete renovation and brick addition circa 2010, featuring quality finishes & tile, wood & hard surface flooring, and luxury details that shine today. A new roof was installed in 2025. The left side of the duplex presents a rare opportunity for transformation—ideal for a large two or three bedroom townhome conversion or additional rental space. All of this is just steps from neighborhood festivals, local dining, and the medical school campus. Properties with this combination of historic curb appeal, updated systems, income potential, and prime location are rare in Evansville’s core. Showings by accepted offer only, to respect tenant privacy, it’s time to grow your portfolio today.