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309 East Spring Street
AI Property Summary
Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).
- Multifamily apartment complex features 52 distinct residential units.
- Property carries an asking price of 4,700,000 dollars.
- Investment delivers a current capitalization rate of 9.79 percent.
- Asset is situated in the city of New Albany, Indiana.
- Location provides strategic access to the broader Louisville metro market.
What's Special
Investors seeking to expand their portfolio will find this 52-unit multifamily apartment building a functional addition, currently positioned for a 9.79% cap rate. Located at 309 East Spring Street in New Albany, Indiana, the property is situated within a growing submarket that benefits from proximity to the greater Louisville metropolitan area. The regional economy remains diverse, anchored by sectors such as healthcare, logistics, and education, which support steady demand for rental housing across the river. This asset provides a straightforward opportunity for those looking to manage multi-family operations in an established residential community. Its layout and unit count allow for scalable management practices while maintaining strong occupancy potential. New Albany serves as a key component of Southern Indiana, offering access to major transportation corridors and a mix of historic charm and modern commercial development. Prospective buyers can leverage the existing scale of this complex to optimize rental income and long-term asset value in a stable geographic corridor.
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