615-973-5373
407 N College St, Tullahoma, TN for Sale
Apartments - FOR SALE
1/47
null | Request Cap Rate

407 N College St
Tullahoma, TN 37388


HIGHLIGHTS

  • 40-unit multifamily community built in 1964, featuring a mix of one-bed and two-bed units
  • Current ownership has invested $327,500 in capital improvements since 2021
  • All three roofs and all HVAC's were replaced in 2021
  • Upgraded finishes and appliances in 38 of 40 units, with a majority of units featuring stainless-steel appliances
  • On-site laundry facility offering added tenant convenience and supporting rent growth
  • Outdoor patio and grilling area enhancing tenant satisfaction and community appeal

OVERVIEW

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/198371/the-landings-at-red-rock Marcus & Millichap has been selected to exclusively market for sale The Landings at Red Rock in Tullahoma, TN. This offering presents investors with a well-maintained, stabilized multifamily opportunity in a growing Middle Tennessee market characterized by strengthening fundamentals and sustained economic expansion. The Landings at Red Rock is a well-maintained 40-unit community built in 1964 and significantly improved through $327,500 in recent capital upgrades, including full roof and HVAC replacements in 2021 and modernized interiors in 38 units. The property offers strong operational appeal with an on-site laundry facility, attractive outdoor amenities, individually metered electric, and RUBS already in place for water. Its Middle Tennessee location provides convenient access to both Nashville and Chattanooga while benefiting from Tullahoma’s ongoing economic development efforts driven by aerospace, advanced manufacturing, and innovation-oriented job growth. 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 Landings at Red Rock.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

40

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Landings at Red Rock

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

105

LAND DETAILS

LAND ACRES

3.07 AC

LAND SF

133,729 SF

ZONING

-

APN/PARCEL ID

124F-H-006.01

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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