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).