21 Lost Ln - Apartments FOR SALE


McEwen, TN 37101
$1,460,000 USD
615-973-5373
21 Lost Ln, McEwen, TN for Sale
$1,460,000 USD
Apartments - FOR SALE
1/33
null | 6.68% Cap Rate

21 Lost Ln
McEwen, TN 37101


HIGHLIGHTS

  • Nine-unit multifamily investment comprised of one single-family rental built in 1940, and eight recently constructed apartment units.
  • Eight spacious 3 bed/2 bath units provide strong appeal to families and workforce housing tenants.
  • Fully occupied property offering immediate in-place cash flow.
  • Stabilized occupancy demonstrates current demand for the property’s larger unit offerings.
  • Recent construction significantly reduces near-term capital expenditure requirements.
  • Individually metered for electricity and water, limiting landlord utility expenses.

OVERVIEW

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/307699/lost-lane-flats Marcus & Millichap has been selected to exclusively market for sale the Lost Lane Flats in McEwen, TN. This offering will allow a potential investor to purchase a rare new investment opportunity located in a supply-constrained rural market. Lost Lane Flats offers investors the opportunity to acquire a fully occupied nine-unit multifamily asset in McEwen, Tennessee. The property consists of eight recently constructed three-bedroom, two-bath units and a one-bedroom, one-bath single-family rental, providing a desirable mix of modern housing inventory and stabilized cash flow. Situated on 1.32 acres and individually metered for electricity and water, the asset benefits from an efficient operating structure while limiting exposure to utility expense growth. The combination of full occupancy, larger floor plans, and newer construction positions the property as a low-maintenance investment with strong long-term rental appeal. 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 Lost Lane Flats.

FOR SALE DETAILS

PRICE

$1,460,000 USD

PRICE/SF

$172 USD /SF

# OF UNITS

9

PRICE/UNIT

$162,222

CAP RATE

6.68%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lost Lane Flats

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2025

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

-

APN/PARCEL ID

056-043.00

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.