1743 Culbertson Ave - Apartments FOR SALE


New Albany, IN 47150
$3,200,000 USD
502-384-4991
1743 Culbertson Ave, New Albany, IN for Sale
$3,200,000 USD
Apartments - FOR SALE
1/24
null | Request Cap Rate

1743 Culbertson Ave
New Albany, IN 47150


HIGHLIGHTS

  • Rare opportunity to acquire a 37-unit apartment complex plus a two-bedroom single-family home in the heart of New Albany.
  • Strong income potential with all units individually metered and tenants responsible for utilities, ensuring predictable operating costs.
  • Features include a large coin-operated laundry room, dedicated parking lot, and spacious storage area with potential for an additional apartment.
  • Each apartment offers a practical layout with living room, kitchen, bedroom, and bath, complemented by vinyl and carpet flooring and tile finishes.
  • Elevator access and three stairwells provide convenience and accessibility throughout the building.
  • Prime location minutes from Clarksville’s retail corridor, major interstates I-64 and I-65, and Louisville bridges, supporting long-term tenant demand

OVERVIEW

1743 & 1737 Culbertson Avenue and 1734 Ekin Avenue, New Albany IN 47150 Culbertson Cross Apartments presents a rare chance to acquire a high-performing, turnkey multifamily asset in the thriving New Albany market. This well-maintained property features 37 one-bedroom apartments and a two-bedroom single-family home, offering a balanced unit mix that appeals to a wide range of tenants. Each unit is individually metered, with tenants responsible for all utilities, ensuring predictable operating expenses and strong net income. The property includes a large coin-operated laundry facility, a dedicated parking lot, and a spacious storage area with potential for conversion into an additional apartment, creating an attractive value-add opportunity. Interiors are designed for comfort and functionality, with layouts that include a living room, kitchen, bedroom, and bath, complemented by generous closet space. Flooring consists of vinyl and carpet throughout, with tile finishes in kitchens and bathrooms. The building is equipped with an elevator and three stairwells, providing convenient access for residents and enhancing overall accessibility. Strategically located in the heart of New Albany, Culbertson Cross Apartments benefits from proximity to Clarksville’s vibrant retail and dining corridor, major interstates I-64 and I-65, and quick access to Louisville via nearby bridges. This prime location ensures consistent tenant demand and positions the property for long-term appreciation. With its efficient self-managed structure, minimal maintenance requirements, and strong occupancy history, Culbertson Cross Apartments represents a compelling investment for those seeking reliable cash flow and growth potential. Column Realty LLC, a Kentucky-licensed real estate brokerage, License # 243832, acts as the exclusive listing broker for this offering. In compliance with Indiana real estate regulations (IC 25-34.1-10-9.5), we have partnered with Genesis Realty LLC, an Indiana-licensed brokerage, License # RB14032277, to facilitate local marketing, showings, and transaction compliance within the state of Indiana. The co-broker shares in the commission per the terms of a co-brokerage agreement. No dual agency exists unless explicitly disclosed in writing.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$116 USD /SF

# OF UNITS

38

PRICE/UNIT

$84,211

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1935

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

R-4

APN/PARCEL ID

22-05-02-801-966.000-008

ASK ABOUT THIS PROPERTY

John RendeiroColumn RealtyMore Info
502-384-4991

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John RendeiroColumn RealtyMore Info
502-384-4991

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.