Cap Rate
6.34%
Price Per SF
$142
Price Per Unit
$92,857
Units
49
Gross SQFT
32,040
Year Built
1984
NOI
$288,469
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Over 25% rental upside
- Stabilized occupancy and collections
- Significant capital improvements were made to the property
leaving little to no deferred maintenance for a new owner - An additional 2.04 acres of land have already been zoned to add 40 more units
- In-unit washer & dryer hookups, in-unit attic storage, and fenced in patios
- On-site office unit & storage shed
- Location right off Hwy 58 provides great tenant traffic while simultaneously having ideal unit placement far off the highway with plenty of green space and no road noise
- Property taxes are locked in at the current assessed value for the next 4 years with Hamilton County reassessing every 4 years and the latest reassessment in January 2025
Broker of Record
- Hutt Cooke
- License No. 263667 (TN)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc.
- 1600 West End,
Ste. 1500 Nashville, TN 37203