1743 Culbertson Ave 37 Unit Apartment Building $3,814,057 CAD ($103,083 CAD/Unit) New Albany, IN 47150

Culbertson Cross Apartments presents an opportunity to acquire a stabilized multifamily asset in New Albany, Indiana, a community positioned within the Louisville metropolitan area and offering convenient access to major regional transportation corridors. The property consists of 37 one-bedroom apartment units, one three-bedroom single-family home, an off-street parking lot, green space, on-site laundry facilities, and additional storage space with potential for future conversion, subject to applicable approvals.
Ownership has invested approximately $139,500 in recent capital improvements, enhancing the property's operational efficiency and long-term appeal. Improvements include the installation of 22 new HVAC systems, a key-fob access system, updated appliances in multiple units, new flooring, interior painting, and renovations throughout numerous apartments. These investments help reduce near-term capital expenditure requirements while supporting tenant retention and leasing performance.
Each apartment features a practical layout with living, kitchen, bedroom, and bathroom areas along with ample closet space. Many units have been updated with modern finishes, including refreshed flooring, paint, and appliances. Separately metered gas and electric services are paid directly by tenants, while water and trash expenses are recovered through additional monthly lease charges, creating an efficient utility structure for ownership.
Located minutes from the Clarksville retail corridor, Interstate 64, Interstate 65, and the Ohio River bridges connecting Southern Indiana to Louisville, the property benefits from access to employment centers, shopping, dining, and regional transportation infrastructure. The combination of recent capital investment, diversified income streams, tenant utility reimbursements, on-site amenities, and potential future value-add opportunities positions Culbertson Cross Apartments as an attractive multifamily investment opportunity.