4266 Old State Route 261 | Newburgh, IN 47630
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
4266 Old State Route 261
Newburgh, IN 47630
Newburgh Apartments · Multifamily Property For Sale · 32 Units
Investment Highlights
- LOAN ASSUMPTION – Freddie SBL is currently in place at 3.56% interest with 5.7 years remaining on term
- MARKET PROVEN RENTS – Current owners have increased rents over 10% YOY on classic units with no interior renovations
- ANNUAL MEDIAN INCOME – The Annual Median Income for Newburgh is $124,000 per household, over 8x the projected rent
- LOW BASIS – Offered at $137,500 per door, well below replacement cost in today’s market
- VALUE-ADD STRATEGY – Ownership is achieving a $205 monthly premium on updated units renovating to stainless appliances and upgraded light fixtures
PROPERTY FACTS
| No. Units | 32 | Lot Size | 1.23 AC |
| Property Type | Multifamily | Building Size | 35,200 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low Rise | Year Built | 2008 |
| Building Class | C | Parking Ratio | 3.41/1,000 SF |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.23 AC |
| Building Size | 35,200 SF |
| No. Stories | 3 |
| Year Built | 2008 |
| Parking Ratio | 3.41/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
Site Amenities
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Playground
- Property Manager on Site
- Gated
- Basketball Court
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 32 | - | 1,001 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,981,600 | |
| Land Assessment | $251,900 | Total Assessment | $2,233,500 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$251,900
Improvements Assessment
$1,981,600
Total Assessment
$2,233,500
zoning
| Zoning Code | Commercial |
| Commercial |
Learn More About Investing in Apartment Buildings
1 of 1
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
