916 E Spring Street

DOWNTOWN NEW ALBANY 4-PLEX | ONLINE AUCTION - BIDDING ENDS: TUESDAY, AUGUST 25 @ 2PM. Turn-of-the-century four-unit apartment building offers a rare investment opportunity just east of the heart of downtown New Albany. The two-story building contains four one-bedroom apartments, two units on each level with parking in rear with alley access. Covered front porch with entry foyer for Units 1 & 2 with original staircase. 10’ ceilings. Cozy wall furnace units in Apartments 3 & 4. Separate gas & electric meters. Agent estimates age of home earlier - courthouse records indicate 1929. Ready for complete rehabilitation, the property presents an excellent opportunity for investors, contractors, or developers to restore and reposition this income-producing property in one of Southern Indiana’s most sought after downtown districts. Convenient access to I-64 Sherman Minton Bridge. TERMS: 10% BUYERS PREMIUM added to hammer bid to determine purchase price. A 10% non-refundable down payment is due within 24 hours, with balance due in 40 days. Selling as-is with no contingencies. Inspections are welcomed prior to auction. Financing is permitted but not contingent upon loan approval or appraisal. The buyer pays all closing costs. Possession at closing. Taxes prorated to closing. See Bid Packet for complete terms.