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32810151
32810152

309 East Spring Street, New Albany, IN 47150

LC
KY KY-26624
Berkshire Hathaway HomeServices Parks & Weisberg, Realtors Louisville
Listed by Berkshire Hathaway HomeServices Parks & Weisberg, Realtors Louisville
$4,700,000
36 days on market
Updated 36 days ago
Opportunity zone

Lofts on 3rd

Details
Property Type Multifamily
Sub Type Apartment Building
Units 52
Cap Rate 9.79%
NOI $459,963
Occupancy 92.3%
Tenancy Multi
Year Renovated 2019
Acreage 0.760
Investment Type Stabilized

Multifamily | 9.79% CAP | 52 Units

Marketing description

Introducing an exceptional investment opportunity in New Albany, IN. This impressive property, offering 52 units, underwent a comprehensive renovation in 2019, ensuring a modern and attractive living space for residents. With a remarkable 92.3% occupancy rate, the property demonstrates strong demand and stability. The multifamily, low-rise/garden design is positioned to provide an excellent return on investment in a desirable location. Boasting updated amenities and a well-maintained exterior, this property showcases the potential for long-term profitability and success. Don't miss the chance to capitalize on this thriving investment in the dynamic New Albany area.

Investment highlights

Three Building in Downtown New Albany

310 E Elm Street

309 E Spring Street

303E Spring Street

Was updated in 2019

Listing Contacts

LC
KY KY-26624
Berkshire Hathaway HomeServices Parks & Weisberg, Realtors Louisville
Listed by Berkshire Hathaway HomeServices Parks & Weisberg, Realtors Louisville

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$459,963.22
$38,330.27/mo

Valuation Metrics

0
DSCR
9.79%
Cap Rate
9.79%
ROI

Map

Zoning

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C-2 CommercialGeneral CommercialGeneral Business
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Last updated Feb 27, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Luke Castleman
License
RB18001736
Brokerage
Berkshire Hathaway HomeServices
Title
Broker of Record
Brokerage Address
2308 E 10Th street Jeffersonville IN 47130
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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