220 Harrison St - Apartments FOR SALE


Scottsburg, IN 47170
$3,800,000 USD
317-728-8854
220 Harrison St, Scottsburg, IN for Sale
$3,800,000 USD
Apartments - FOR SALE
1/5
null | 7.33% Cap Rate

220 Harrison St
Scottsburg, IN 47170


HIGHLIGHTS

  • Desirable Low-Density Layout: Neighborhood-Like Community Featuring All-Brick, Single-Story Construction Built in 1999
  • 100% Two-Bedroom Unit Mix: Equipped with Washer/Dryer Connections and Private Driveways
  • Strong Historical and In-Place Performance: Offered at an In-Place 7.33 Percent Cap Rate with Projected 8.00 Percent Year-One Cap Rate
  • Strong Workforce Housing Demand Drivers: Proximity to major employers in Columbus, Seymour, and River Ridge Commerce Center - Over 20,000+ employees a
  • ?Clear Mark-to-Market Opportunity ($120/Unit Upside): Supported by comparable properties in the Scottsburg/ Seymour submarket

OVERVIEW

Deal Room & OM: https://www.?marcusmillichap.?com/properties/204179/alpha-acres Sales Notes: Marcus & Millichap is pleased to present the exclusive offering of Alpha Acres, a 36-unit, single-story duplex community situated in Scottsburg, Indiana along the I-65 corridor between Louisville and Indianapolis.? Constructed in 1999 with all-brick exteriors and a low-density site plan, the property offers investors a durable, low-maintenance asset in a supply-constrained submarket with individually parceled units — a structural advantage that enhances both financing flexibility and future disposition optionality.? The portfolio consists entirely of two-bedroom, one-bath units averaging 867 square feet, each featuring private driveways, patios, and in-unit washer/dryer connections.? These renter-preferred amenities continue to drive strong demand among the region’s workforce housing base.? The property currently achieves average rents of $1,036, with a well-supported path to $1,156 — representing approximately $120 per unit in mark-to-market upside validated by comparable properties in the immediate trade area.? Alpha Acres generates consistent occupancy and stable in-place cash flow, with a value-add driven by organic rent growth rather than capital-intensive renovations.? Minimal new supply within the submarket, combined with sustained renter demand rooted in regional affordability constraints, reinforces both near-term yield and long-term asset resilience.? The Scottsburg submarket is strategically embedded within Southern Indiana’s expanding industrial corridor, benefiting from proximity to major employment centers in Columbus, Seymour, and the broader Louisville MSA.? The continued growth of logistics and manufacturing operations, most notably at the River Ridge Commerce Center, has created a durable foundation of workforce housing demand, underpinning long-term rent growth and occupancy stability for well-located assets like Alpha Acres.?

FOR SALE DETAILS

PRICE

$3,800,000 USD

PRICE/SF

$99 USD /SF

# OF UNITS

36

PRICE/UNIT

$105,556

CAP RATE

7.33%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Alpha Acres

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.96 AC

LAND SF

216,058 SF

ZONING

MF

APN/PARCEL ID

72-05-20-340-001.001-008,72-05-20-340-001.002-008,72-05-20-340-001.003-008,72-05-20-340-001.004-008,72-05-20-340-001.005-008,72-05-20-340-001.006-008,72-05-20-340-001.007-008,72-05-20-340-001.008-008,72-05-20-340-001.009-008,72-05-20-340-001.010-008,72-05-20-340-001.011-008,72-05-20-340-001.012-008,72-05-20-340-001.013-008,72-05-20-340-001.014-008,72-05-20-340-001.015-008,72-05-20-340-001.016-008,72-05-20-340-002.000-008

ASK ABOUT THIS PROPERTY

Aaron KuroiwaMarcus & MillichapMore Info
317-728-8854

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Aaron KuroiwaMarcus & MillichapMore Info
317-728-8854

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