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Alpha Acres 220 Harrison St 36 Unit Apartment Building $5,160,400 CAD ($143,344 CAD/Unit) 7.33% Cap Rate Scottsburg, IN 47170
Investment Highlights
- Desirable Low-Density Layout: Neighborhood-Like Community Featuring All-Brick, Single-Story Construction Built in 1999
- 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
- ?Clear Mark-to-Market Opportunity ($120/Unit Upside): Supported by comparable properties in the Scottsburg/ Seymour submarket
- 100% Two-Bedroom Unit Mix: Equipped with Washer/Dryer Connections and Private Driveways
- Strong Workforce Housing Demand Drivers: Proximity to major employers in Columbus, Seymour, and River Ridge Commerce Center - Over 20,000+ employees a
Executive Summary
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.?
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.?
Property Facts
| Price | $5,160,400 CAD | Apartment Style | Garden |
| Price Per Unit | $143,344 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 4.96 AC |
| Cap Rate | 7.33% | Building Size | 38,412 SF |
| No. Units | 36 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1999 |
| Zoning | MF | ||
| Price | $5,160,400 CAD |
| Price Per Unit | $143,344 CAD |
| Sale Type | Investment |
| Cap Rate | 7.33% |
| 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 |
| Average Occupancy | 94% |
| 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 | $1,407 CAD | 800 - 880 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,000,198 CAD | |
| Land Assessment | $240,773 CAD | Total Assessment | $2,240,972 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$240,773 CAD
Improvements Assessment
$2,000,198 CAD
Total Assessment
$2,240,972 CAD
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Alpha Acres | 220 Harrison St
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