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1059 Woods Ferry Rd
Gallatin, TN 37066
Pinewood Apartments · Multifamily Property For Sale
·
16 Units
Investment Highlights
- 16-unit multifamily asset comprised of two eight-unit buildings in Gallatin, one of Middle Tennessee’s fastest-growing submarkets.
- Select unit renovations have been completed, including updated flooring, countertops, appliances, fixtures, and lighting.
- Future ownership may benefit from building on an existing site plan and architectural drawings for an additional 16, 2-bedroom units.
- Major exterior improvements include parking lot resealing and striping.
- On-site laundry facility provides additional income potential through CSC-operated washers and dryers.
- Expansion potential offers investors a rare opportunity to increase unit count and maximize land utilization within the existing property footprint.
Executive Summary
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/308490/pinewood-apartments
Marcus & Millichap has been selected to exclusively market for sale the Pinewood Apartments in Gallatin, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity Located in Gallatin, one of Nashville’s fastest-growing suburban markets
This offering provides investors the opportunity to acquire a 16-unit multifamily asset in Gallatin, one of Middle Tennessee’s fastest-growing suburbs. The property has benefited from approximately $50,000 in recent capital improvements, including new roofs in 2023, exterior and mechanical upgrades, and select renovated units. With individually metered electric service, water being bill-back to tenants, and additional income from on-site laundry, investors have multiple avenues to improve operational efficiency and increase cash flow. Further enhancing the opportunity, existing surveys, permits, and site planning may support the future development of two additional multifamily buildings, creating a compelling value-add and expansion opportunity.
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 Pinewood Apartments.
Marcus & Millichap has been selected to exclusively market for sale the Pinewood Apartments in Gallatin, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity Located in Gallatin, one of Nashville’s fastest-growing suburban markets
This offering provides investors the opportunity to acquire a 16-unit multifamily asset in Gallatin, one of Middle Tennessee’s fastest-growing suburbs. The property has benefited from approximately $50,000 in recent capital improvements, including new roofs in 2023, exterior and mechanical upgrades, and select renovated units. With individually metered electric service, water being bill-back to tenants, and additional income from on-site laundry, investors have multiple avenues to improve operational efficiency and increase cash flow. Further enhancing the opportunity, existing surveys, permits, and site planning may support the future development of two additional multifamily buildings, creating a compelling value-add and expansion opportunity.
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 Pinewood Apartments.
Property Facts
| Price Per Unit | $131,250 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.70 AC |
| Cap Rate | 5.81% | Building Size | 8,800 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment |
| Price Per Unit | $131,250 |
| Sale Type | Investment |
| Cap Rate | 5.81% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 1.70 AC |
| Building Size | 8,800 SF |
| No. Stories | 2 |
| Year Built | 1987 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 550 |
Property Taxes
| Parcel Number | 126M-B-019.00 | Improvements Assessment | $437,680 |
| Land Assessment | $168,760 | Total Assessment | $606,440 |
Property Taxes
Parcel Number
126M-B-019.00
Land Assessment
$168,760
Improvements Assessment
$437,680
Total Assessment
$606,440
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