106-108 W Pennsylvania Street, Shelbyville, IN 46176

Building Details

Year built

1900

Floors in Building

2

Number of units

5

Building materials

Aluminum Siding

Architectural style

Other

Listing agent Justin Polston License #RB14043542 Show Phone

Listing office Mackenzie Allen, Polston & Ass j***@mackenzieallenrealestate.com E. Washington St. 126, Shelbyville, IN Show Phone

Listing date Jan 11, 2026

Report an issue

MLS# 22079319 Listing URL

Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

---

Overview

This for-sale apartment building consists of five units: three 1-bedroom/1-bath apartments, one studio, and one 2-bedroom/1-bath unit. The property is described as having been lightly rehabbed over recent years, with new flooring and paint, and it is presented as stabilized with new tenants. Exterior construction is described as low-maintenance metal, and all heating is provided by baseboard units, with no HVAC system to manage or maintain.

The building is located at 106–108 W Pennsylvania Street in Shelbyville, Indiana. The current remarks indicate convenient walkable access to Shelbyville’s remodeled downtown square, the Blue River Trailhead, river access and craft launch, as well as nearby local destinations including the Cow Palace and City Collective Boba Cafe.

For investors or owner-operators seeking a small, manageable multifamily asset, the mix of studios, 1-bedroom units, and a single 2-bedroom/1-bath provides multiple tenant configurations within one property. The described baseboard heating can reduce mechanical complexity compared with properties that rely on centralized HVAC, while the recent interior updates support an easier transition for incoming residents.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Shelbyville

County

Shelby

State

Indiana

Longitude

-85.779488

Latitude

39.527196

Nearby Similar for Sale

• 

  $120,000

  2,240 SF

  Shelbyville Duplex on Mechanic Street

  Duplex on a generous lot, great for investors.

  328 E Mechanic Street, Shelbyville, IN 46176-1628

  View Details
• 

  $574,900

  Downtown Mixed-Use Storefront Investment

  Two-parcel property with three leased storefronts and partially finished second-floor space for adaptive reuse.

  12 S Harrison Street, Shelbyville, IN 46176

  View Details
• 

  $324,900

  Corner-Alley 5-Unit Apartment Building

  Five-unit multifamily building with multiple unit types and convenient tenant parking off an alley corner.

  617 W Franklin Street, Shelbyville, IN 46176

  View Details
• 

  $2,189,415

  12,375 SF

  Retail Investment Opportunity in Shelbyville

  Prime retail investment opportunity in Shelbyville, Indiana.

  570 Saraina Rd, Shelbyville, IN 46176

  View Details
• 

  $1,000,000

  5,000 SF

  Shelbyville Retail Space For Sale

  5000 sq ft retail space with expansion potential.

  613 E State Road 44, Shelbyville, IN 46176

  View Details
• 

  $79,000

  Duplex Residential Income Property

  Residential duplex for sale, offering flexible living and rental options on a single property.

  328-330 W Mechanic Street, Shelbyville, IN 46176

  View Details
• 

  $110,000

  Triplex with Porch Entry

  For sale triplex in Shelbyville with a welcoming porch and a residential setting.

  110 E South Street, Shelbyville, IN 46176

  View Details
• 

  $3,500,000

  61,479 SF

  Shelbyville Mixed-Use Redevelopment Opportunity

  Redevelop entire block in Shelbyville's Central Business District.

  134 E Jackson St, Shelbyville, IN 46176

  View Details
• 

  Contact for pricing

  45,000 SF

  Shelbyville Warehouse on 5.7 Acres

  45,000 SF warehouse with ample parking and convenient location.

  1805 Miller Ave, Shelbyville, IN

  View Details
• 

  $312,000

  4,936 SF

  Shelbyville Restaurant with Highway Visibility

  Long-standing Shelbyville restaurant with high visibility and business zoning.

  1415 E Michigan Road, Shelbyville, IN 46176

  View Details
• 

  $499,900

  4,500 SF

  Shelbyville Mixed-Use Property For Sale

  4,500 sq ft mixed-use property with recent renovations.

  925 Virginia Street, Shelbyville, IN 46176

  View Details

FAQs

What type of property is this?

Apartment building - Five apartment units with metal exterior and baseboard heat, offered with recent interior updates.

Where is this apartment building located?

The property is located at 106-108 W Pennsylvania Street Shelbyville, IN.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: $52,250 in annual rents from a 5‑apartment property; Unit mix: three 1/1 apartments, one studio, and one 2/1 apartment; New flooring and paint; units are lightly rehabbed over the last several years