224 Garfield St - Apartments FOR SALE


McMinnville, TN 37110
$638,000 USD
931-473-8718
224 Garfield St, McMinnville, TN for Sale
$638,000 USD
Apartments - FOR SALE
1/19
null | 4.64% Cap Rate

224 Garfield St
McMinnville, TN 37110


HIGHLIGHTS

  • Upper and lower parking(Ample parking)
  • Laundry separate from the units.(No sound complaints)
  • Trash dumpster on site.
  • Mostly walk in basement for ease of maintenance.
  • Quite facility with minimal issues.
  • Many long term Tenants/Good consistent cash flow.

OVERVIEW

Many of the units have long term tenants with good consistent cash flow. 10 of 10 units are rented. New vinyl siding has been installed.(increase to purchase price reflected) Updated 2023 financials available for registered LoopNet users. 5 of the 10 HVAC units are newer high quality units. There is ample parking on the street level with extra parking in the lower lot. One story level units with easy move-in. No laundry in units. Easy maintenance in most units under the building. Rent Rates for Tenants starting in July are: Apartments 1 & 2 $500 Apartments 3-10 $480.00 If you have any questions feel free to call 931-473-8718. I can show the building and an apartment on request. Please contact the office prior to visiting the facility.

FOR SALE DETAILS

PRICE

$638,000 USD

PRICE/SF

$106 USD /SF

# OF UNITS

10

PRICE/UNIT

$63,800

CAP RATE

4.64%

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

224 Garfield Street Anderson Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

24,169 SF

ZONING

C-2, R-1

APN/PARCEL ID

059N-C-048.00

ASK ABOUT THIS PROPERTY

Adam BouldinTri State Development & Construction CompanyMore Info
931-473-8718

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Adam BouldinTri State Development & Construction CompanyMore Info
931-473-8718

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