Valley Apartments is a well-maintained 12-unit multifamily community located in the growing Cookeville, Tennessee market. Positioned on a full one-acre parcel, the property consists entirely of spacious 2-bedroom, 1-bath units totaling 6,290 square feet. Each unit is equipped with in-unit laundry—either all-in-one or stackable setups—and the property is supported by ample front and rear parking. Currently 92% occupied, Sun Valley generates consistent operational performance with consistent lease-up opportunities. Proforma Returns a 8.83 Cap with minimal operational changes.
Originally constructed in 1973, the property has received meaningful updates in recent years, including five full interior renovations, upgraded kitchen cabinetry in additional units, and fresh exterior paint. Major systems have also been addressed, with all HVAC units replaced within the last three years and a durable metal roof installed less than ten years ago. These improvements provide both stability and reduced near-term capital exposure for new ownership. The asset is separately metered for electricity with tenant-paid usage, while water is master-metered and reimbursed at $25 per unit per month. Multiple kitchens and bathrooms in this asset offer the opportunity to add value add updates.
With continued interior upgrades and potential refinements to utility reimbursement, investors have opportunities to further enhance NOI. Sun Valley Apartments is strategically located just minutes from Downtown Cookeville and Tennessee Tech University—an area experiencing steady population growth, a strong renter base, and increasing investor interest across the region.