112 Becky Dr - Apartments FOR SALE


Greeneville, TN 37743
$9,000,000 USD
423-627-7161
112 Becky Dr, Greeneville, TN for Sale
$9,000,000 USD
Apartments - FOR SALE
1/48
null | Request Cap Rate

112 Becky Dr
Greeneville, TN 37743


OVERVIEW

83 Units Across Six Buildings — 51 one-bedroom / 32 two-bedroom units located at 102 Diane Lane, 808 Carolina Drive, 822 Carolina Drive (2 buildings), and 112 Becky Drive (2 buildings) in a proven workforce housing configuration. Major Capital Improvements Completed — Updated parking lots, new/replaced roofs, refreshed siding, plus extensive interior remodeling deliver modern finishes, improved systems, and strong curb appeal with limited near-term capital needs. Convenient On-Site Amenities — Each building features its own shared laundry room plus 9 smaller storage units available for additional rental income. Strong Occupancy & Income Diversification — A vacancy of ~6.33%. Property Includes 4 active mid-term rental units serving traveling professionals. Below Market Rents — Modest mark-to-market opportunity with in-place rents running a little below current market rates. Proximity to Tusculum University — Conveniently located just minutes from Tusculum University, supporting consistent demand from students, faculty, staff, and affiliated professionals. Prime East Tennessee Market — Excellent proximity to the Nolichucky River (recreation, tubing, and outdoor activities), manufacturing, healthcare, Tusculum University, and tourism demand in Greeneville / Greene County with quick access to Johnson City (~40 min), Knoxville, and Asheville. Turnkey / Light Value-Add — Heavy lifting done; positioned for strong current cash flow with straightforward operational and revenue enhancements. Established & Scalable — Branded as Greene Ridge with long-term tenant base and appeal to a wide range of buyers including 1031 exchangers and regional operators. Compelling Investment Profile — Affordable entry into a supply-constrained rental market with resilient fundamentals and multiple paths to value creation (including ancillary storage income).

FOR SALE DETAILS

PRICE

$9,000,000 USD

PRICE/SF

$833 USD /SF

# OF UNITS

83

PRICE/UNIT

$108,434

CAP RATE

Request Cap Rate

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Greene Ridge

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1978

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R3

APN/PARCEL ID

099P-B-015.01

ASK ABOUT THIS PROPERTY

Jacob AdamsHurd RealtyMore Info
423-627-7161

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Jacob AdamsHurd RealtyMore Info
423-627-7161

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