Positioned in the heart of New Albany, the Alexander Dowling Home presents a rare and compelling investment opportunity within the highly sought afte E Spring St Historic District. Located at 1217 E. Spring St & listed on the Historic Registry, this Italianate gem offers the perfect blend of historic significance & income producing potential. Originally owned by Alexander Dowling - former Indiana Supreme Court Justice (1899-1905) & prominent local figure - this property carries a rich legacy that enhances its desirability for boutique residential, mixed use or specialty rental concepts. Built circa 1870 with an 1888 addition, the home showcases classic Italianate architecture, including tall, narrow windows, ornate cornices & striking vertical lines. For investors, the true value lies in its versatility - the property can be restored into a grand single-family residence, converted into multiple units or repositioned for short term rental, office or mixed use purposes (subject to zoning & approvals). Its prime location near the Downtown New Albany Historic District, along with close proximity to restaurants, shops & local businesses further strengthens its appeal for tenants, guests or commercial use. An added bonus: the included adjacent parking lot significantly enhances functionality & future development potential. With seller financing options available, investors have a unique opportunity to acquire a distinctive, high potential asset w/flexible terms & long term upside.
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