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Alpha Acres 220 Harrison St 36 Unit Apartment Building For Sale Scottsburg, IN 47170
EXECUTIVE SUMMARY
Alpha Acres presents a compelling investment opportunity with multiple value drivers and long-term flexibility. Utility cost savings are underway through the implementation of water sub-metering across all units, expected to be completed by year-end. This initiative will shift water expenses to tenants, reducing operating costs and improving net operating income. The property also offers an attractive assumable debt option, featuring a $2,497,000 interest-only loan through June 2026 at a fixed rate of 5.92%, maturing on June 1, 2033. Future disposition flexibility is built in, as all duplexes are subdivided, allowing future ownership to sell individual assets to investors and unlock additional exit strategies.
The surrounding area is experiencing significant economic growth, highlighted by Conco Inc.’s $71 million expansion, which includes a 150,000 sq. ft. addition to its Scottsburg facility—part of a $125 million investment since 2023 that boosts local manufacturing and employment. Alpha Acres benefits from proximity to key demand drivers such as Green Tree Mall (85K+ sq. ft. retail center), Morgan Foods (500+ employees), and Austin Tri-Hawk Automotive (350+ employees), with easy access to I-65, Hwy 31, and Hwy 56—all within five minutes.
Additionally, the broader Louisville region is seeing record-setting job growth, with 4,577 new jobs created across 35 projects in 2024 and $653 million in capital investment. Notable developments include the $120 million North West Louisville Hospital, the $135 million Stellar Snacks facility creating 350 jobs, the proposed $250 million Louisville Sports & Entertainment District, and a $100 million+ Downtown Building Conversion Program aimed at repurposing vacant office space into residential and mixed-use developments. Alpha Acres is ideally located for access to major Louisville employers such as UPS (26,328 jobs), Norton Healthcare (15,044 jobs), Ford Motor Co. (13,020 jobs), Humana (11,000 jobs), and the University of Louisville (6,339 jobs), making it a strategic choice for both residents and investors.
The surrounding area is experiencing significant economic growth, highlighted by Conco Inc.’s $71 million expansion, which includes a 150,000 sq. ft. addition to its Scottsburg facility—part of a $125 million investment since 2023 that boosts local manufacturing and employment. Alpha Acres benefits from proximity to key demand drivers such as Green Tree Mall (85K+ sq. ft. retail center), Morgan Foods (500+ employees), and Austin Tri-Hawk Automotive (350+ employees), with easy access to I-65, Hwy 31, and Hwy 56—all within five minutes.
Additionally, the broader Louisville region is seeing record-setting job growth, with 4,577 new jobs created across 35 projects in 2024 and $653 million in capital investment. Notable developments include the $120 million North West Louisville Hospital, the $135 million Stellar Snacks facility creating 350 jobs, the proposed $250 million Louisville Sports & Entertainment District, and a $100 million+ Downtown Building Conversion Program aimed at repurposing vacant office space into residential and mixed-use developments. Alpha Acres is ideally located for access to major Louisville employers such as UPS (26,328 jobs), Norton Healthcare (15,044 jobs), Ford Motor Co. (13,020 jobs), Humana (11,000 jobs), and the University of Louisville (6,339 jobs), making it a strategic choice for both residents and investors.
PROPERTY FACTS
| Sale Type | Investment | Building Class | B |
| No. Units | 36 | Lot Size | 4.96 AC |
| Property Type | Multifamily | Building Size | 38,412 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1999 |
| Zoning | MF | ||
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.96 AC |
| Building Size | 38,412 SF |
| No. Stories | 1 |
| Year Built | 1999 |
| Zoning | MF |
AMENITIES
UNIT AMENITIES
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 36 | - | 800 - 880 |
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Alpha Acres | 220 Harrison St
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