2000 Old Tullahoma Rd - Apartments FOR SALE


Winchester, TN 37398
$3,850,000 USD
615-973-5373
2000 Old Tullahoma Rd, Winchester, TN for Sale
$3,850,000 USD
Apartments - FOR SALE
1/34
null | 8.34% Cap Rate

2000 Old Tullahoma Rd
Winchester, TN 37398


HIGHLIGHTS

  • Approximately $850,000 has been invested in capital improvements over the past 48 months.
  • 30 out of 36 units have been rehabbed, completed in 2022, including new flooring, kitchens, appliances, plumbing, windows, doors, lighting, and paint.
  • Each unit has washer/dryer connections
  • The property uses copper plumbing and wiring, which were updated as needed in 2021.
  • The roof is metal, in good condition, and approximately 8 years old.

OVERVIEW

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/184896/maplewood-apartments Marcus & Millichap has been selected to exclusively market for sale the Maplewood Apartments in Winchester, TN. This offering presents an opportunity to acquire a 36-unit multifamily asset with significant recent capital improvements and remaining value-add upside. Maplewood Apartments offers investors the opportunity to acquire a 36-unit community that has undergone significant capital improvements while maintaining a clear path for future value creation. Ownership has invested approximately $850,000 over the past four years, including renovations to 30 of 36 units. With six units remaining to be upgraded, investors have the ability to continue the renovation program and capture additional rental upside. Combined with recent property improvements, washer/dryer connections, and limited multifamily competition in the Winchester market, Maplewood Apartments is positioned to provide both stable cash flow and continued growth potential. 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 an assumption of debt in place for the Maplewood Apartments and all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Maplewood Apartments.

FOR SALE DETAILS

PRICE

$3,850,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

36

PRICE/UNIT

$106,944

CAP RATE

8.34%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Maplewood Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4 AC

LAND SF

174,240 SF

ZONING

-

APN/PARCEL ID

055P-C-001.01

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.