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Description

This is part of a 3-complex portfolio, sold ONLY as a package deal. Properties will not be sold separately. 393 total apartment units in three separate apartment communities located in Southern Indiana in the Louisville metropolitan area.Two are located in Clarksville, IN and One is located in New Albany,IN. (All within 5 miles of each other.) Olde Towne Village Apartments Located at 790 Irving Drive in Clarksville, IN 47129, this 156- unit complex was built around 1969. Units range from a one- bedroom, 750 sq. ft. unit, to a two-bedroom, 1300 sq. ft. unit. Current rents range from $509 per month to $665 per month. Evergreen Court Apartments Located at 813 Eastern Boulevard in Clarksville, IN 47129, this 125- unit complex was built around 1965. Units range from a one- bedroom, 750 sq. ft. unit, to a two- bedroom, 1100 sq. ft. unit. Current rents range from $499 per month to $645 per month. Cedar Ridge Apartments Located at 2313 Grant Line Road in New Albany, IN 47150, this 112-unit complex was built in the early 1970s. Units range from a one-bedroom ,750 sq. ft. unit, to a three-bedroom, 1200 sq. ft. unit. Current rents range from $525 per month to $749 per month. All the properties are currently financed with a 5.84% fixed rate, 30 year loan maturing on 2/1 in 2016. THIS LOAN MUST BE ASSUMED, WITH A 1% ASSUMPTION FEE PAID TO SERVICER AT CLOSING Building price details: $18,250,000.

Property Details

• Type: Multifamily
• Status: Available
• Year Built: 1965
• Buildings: 1

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