369 Warren St - Apartments FOR SALE


Madisonville, TN 37354
$1,350,000 USD
423-508-5265
369 Warren St, Madisonville, TN for Sale
$1,350,000 USD
Apartments - FOR SALE
1/18
null | 6.03% Cap Rate

369 Warren St
Madisonville, TN 37354


HIGHLIGHTS

  • Two apartment buildings totaling 12 units with in-place rental income
  • Adjacent ±1 acre parcel potentially available for assemblage
  • Opportunity for long-term hold with stable workforce housing demand in the local market

OVERVIEW

PROPERTY DESCRIPTION The offering consists of two apartment buildings totaling twelve units situated on approximately 1.9 acres in Madisonville, Tennessee. The property provides in-place income and operational stability in a market with limited multifamily inventory and consistent local housing demand. Additionally, an adjacent one-acre parcel may be available for purchase, providing a potential assemblage opportunity. This investment is well suited for an owner-operator or regional investor seeking steady cash flow with long-term upside potential. LOCATION DESCRIPTION Madisonville serves as the county seat and commercial center of Monroe County, providing daily-needs retail, healthcare, and services for the surrounding rural communities. The area benefits from proximity to Sweetwater, Tellico Plains, and Vonore, with convenient access toward Knoxville via U.S. 411. Nearby employers, schools, and medical services support consistent local housing demand. Residents also enjoy access to outdoor recreation at Tellico Lake and the Cherokee National Forest, which draws both permanent residents and seasonal workers to the area.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$131 USD /SF

# OF UNITS

12

PRICE/UNIT

$112,500

CAP RATE

6.03%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cherokee Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

34

LAND DETAILS

LAND ACRES

1.9 AC

LAND SF

82,764 SF

ZONING

C

APN/PARCEL ID

067-099.01

ASK ABOUT THIS PROPERTY

Molly MarcumRise PartnersMore Info
423-508-5265

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Molly MarcumRise PartnersMore Info
423-508-5265

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