615-973-5373
104-114 Highway 259, Portland, TN for Sale
Apartments - FOR SALE
1/29
null | Request Cap Rate

104-114 Highway 259
Portland, TN 37148


HIGHLIGHTS

  • Over $110,000 spent on capital improvements in the past 36 months
  • Unit renovations include new appliances, flooring, lighting, hardware, interior paint, and resurfaced tubs and counter-tops
  • Each building is on one water meter and tenants are billed-back
  • Trash service is provided by the city and included in water bills
  • PVC plumbing and Romex copper wiring throughout

OVERVIEW

Link to Deal Room & Financials: https://www.marcusmillichap.com/properties/185510/hwy-259-townhomes Marcus & Millichap has been selected to exclusively market for sale Hwy 259 Townhomes in Portland, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in the Nashville, TN MSA. Located in the growing city of Portland, TN, Hwy 259 Townhomes offers investors a stabilized, well-maintained 28-unit asset with strong in-place operations and long-term upside. The property stands out with desirable tenant amenities including in-unit washers and dryers, a playground, a picnic area, and an on-site shop. Over $110,000 in recent capital improvements including new roofs, upgraded common areas, and interior unit renovations position the asset for minimal near-term cap-ex. Brittany Court offers an efficient, low-maintenance investment in a high-demand market with continued population and economic growth. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF HWY 259 TOWNHOMES.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

28

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Highway 259 Townhomes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2008

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.28 AC

LAND SF

99,317 SF

ZONING

A

APN/PARCEL ID

001-002.01,001-002.02

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.