Cap Rate
6.50%
Price Per Unit
$95,000
Units
60
Gross SQFT
64,350
Year Built
1974/2018
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Current Avg Rent: $1,208 | Market Stabilized Avg Rent: $1,357
- Current Tax-Adjusted Cap Rate: 6.50% | Stabilized Cap Rate: 8.70%
- Consists of 4% 1 Bedrooms, 65% 2 Bedrooms, and 31% 3 Bedrooms.
- (3) One Bedroom/One Bathroom, (34) Two Bedroom/One Bathroom, (6) Two Bedroom/One and a Half Bathroom, and (17) Three Bedroom/One and a Half Bathroom Units
- There are 12 units with Basements – Square Footage is not calculated into the total SF or the unit SF since it is below ground
- Density: 6.7 Units/AC
- Opportunity to build more units on this parcel
- Zoning: RM C3 – Allowing for 8-14 Units/A
- APN: 12-0149C-00A-003
- Parking: 120 Surface Spaces and 20 Garage Spaces
Broker of Record
- Bill Pedersen
- License No. 80041 (GA)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203