Cap Rate
6.13%
Price Per SF
$111
Price Per Unit
$100,266
Units
94
Gross SQFT
84,600
Year Built
1940/ 2019
Occupancy
97%
NOI
$578,192
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Current Avg Rent: $1,006 | Market Stabilized Rent: $1,115
- Current Tax-Adjusted Cap Rate: 6.04% | Stabilized Cap Rate: 6.91%
- (10) One Bed/One Bath, (74) Two Bed/One Bath, and (10) Three Bed/One Bath Units
- Density: 23 Units/ Acre
- APN: 0149.00-09-001.00
- Central HVAC: 7 HVAC units replaced in the last 6 years
- Individually Metered for Electric & Water/Sewer
• Tenants establish accounts in their name prior to moving in - Copper Wiring & Mix of PVC Plumbing & Cast Iron for Plumbing
- Renovations in 2019 Include:
• Kitchens – Cabinets, Countertops, Appliances
• Bath – Vanity, Mirror, Fixtures
• Flooring – Vinyl downstairs, refinished hardwoods upstairs, carpet in bedrooms, and tile in bathrooms - Roof: Pitched. Generally, in fair condition. Unsure of the current age
Broker of Record
- Kyle Matthews
- License No. 22684 (SC)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203