701 E Spring Street New Albany, IN
$ 4,275,000
Property Attributes
  • MLS#2021012189
  • TypeCommercial
  • CountyFLOYD
  • CityNew Albany
  • AreaNew Albany
  • Zip47150
  • StyleMultiFamily
  • Taxes$ 30000
  • Price$ 4,275,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
Listing Provided Courtesy Of:
Sara Taylor-Hughes with eXp Realty, LLC
Data Source:
Southern Indiana REALTORS® Association (SIRA)
Property Description

Own a piece of HISTORIC downtown New Albany. The former St. Edward Hospital is now a 57 unit apartment complex. Rental units bring in $34,272.00/month in rent. This property has 21 one bedroom units, 30 two bedroom units, 4 three bedroom units, 1 four bedroom apartment, and a studio apartment. 11 of the units have dishwashers and washer dryer hookups. The main building has coin laundry on site. 8 washers and 8 dryers all brand new and owned not leased. There are several storage and maintenance rooms on the property. There is an on site office space, security room, and conference room. A children's playground in the courtyard with new playsafe rubber mulch. There are 2 passenger elevators and a freight elevator. All heat and air is run on boilers and cooling towers. The parking lot behind the property on Elm Street is also included. The listing agent is related to the seller.

Price History
11/12/2021 Listed $4,275,000

General Features

Additional Parcels Description 22-05-03-500-183.000-008and22-05-02-801-697.001-00
City New Albany
County Floyd
Current Use MultiFamily
Days on Market 1
New Construction No
Property Sub Type Additional MultiFamily
Property SubType MultiFamily
Property Type CommercialSale
PropertyCondition Resale
Standard Status Active
Status Active
Street Name Spring
Tax Annual Amount 30000.0
Township New Albany

Interior Features

Living Area 0.0
Street Suffix Street

Exterior Features

Lot Size Units Acres


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 47150

AVG $850K
AVG $10,003
AVG 58
AVG 57
Data Provided by Walkscore ® not using MLS data

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