1806 Meharry Blvd - Apartments FOR SALE


Nashville, TN 37208- Germantown
$1,500,000 USD
615-973-5373
1806 Meharry Blvd, Nashville, TN for Sale
$1,500,000 USD
Apartments - FOR SALE
1/48
null | 6.23% Cap Rate

1806 Meharry Blvd
Nashville, TN 37208
Germantown


HIGHLIGHTS

  • Combined 14-unit offering consisting of a 13-unit multifamily building and a standalone rental home next door
  • Efficient unit mix with predominantly 1-bedroom layouts ideal for student, healthcare, and workforce tenants
  • Strong rental upside with current rents significantly below market for North Nashville
  • Excellent opportunity for value-add repositioning through interior upgrades and rent normalization
  • Potential to implement RUBS or utility bill-back programs to enhance NOI
  • Walkable location adjacent to Fisk University and Nashville General Hospital

OVERVIEW

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/202612/toddmeharry-apartments Marcus & Millichap has been selected to exclusively market for sale the Todd-Meharry Apartments located just minutes from downtown Nashville. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Nashville, TN. This 14-unit offering includes a 13-unit multifamily building at 1037 DB Todd Boulevard and a single-family rental home next door at 1806 Meharry Boulevard, creating a rare small-scale portfolio in a tightly supplied North Nashville corridor. The unit mix is predominantly efficient one-bedroom layouts supported by strong demand from nearby universities and healthcare employers. Both assets are within walking distance of Fisk University and Nashville General Hospital and minutes from Downtown Nashville, Midtown, and the North Gulch. With rents well below market and multiple value-add levers including interior upgrades, RUBS implementation, and repositioning of the standalone home, new ownership has a compelling opportunity to enhance NOI. The central location, durable tenant base, and strong submarket fundamentals support both immediate operational upside and long-term exit flexibility. 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 the Todd-Meharry Apartments.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$143 USD /SF

# OF UNITS

14

PRICE/UNIT

$107,143

CAP RATE

6.23%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Todd-Meharry Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1939

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

RM20

APN/PARCEL ID

092-03-0-246,092-03-0-250

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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