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Greene Ridge 112 Becky Dr 83 Unit Apartment Building $9,000,000 ($108,434/Unit) Greeneville, TN 37743
Executive Summary
83 Units Across Six Buildings — 51 one-bedroom / 32 two-bedroom units located
at 102 Diane Lane, 808 Carolina Drive, 822 Carolina Drive (2 buildings), and 112
Becky Drive (2 buildings) in a proven workforce housing configuration.
Major Capital Improvements Completed — Updated parking lots, new/replaced
roofs, refreshed siding, plus extensive interior remodeling deliver modern finishes,
improved systems, and strong curb appeal with limited near-term capital needs.
Convenient On-Site Amenities — Each building features its own shared laundry
room plus 9 smaller storage units available for additional rental income.
Strong Occupancy & Income Diversification — A vacancy of ~6.33%. Property
Includes 4 active mid-term rental units serving traveling professionals.
Below Market Rents — Modest mark-to-market opportunity with in-place rents
running a little below current market rates.
Proximity to Tusculum University — Conveniently located just minutes from
Tusculum University, supporting consistent demand from students, faculty, staff,
and affiliated professionals.
Prime East Tennessee Market — Excellent proximity to the Nolichucky River
(recreation, tubing, and outdoor activities), manufacturing, healthcare, Tusculum
University, and tourism demand in Greeneville / Greene County with quick access
to Johnson City (~40 min), Knoxville, and Asheville.
Turnkey / Light Value-Add — Heavy lifting done; positioned for strong current cash
flow with straightforward operational and revenue enhancements.
Established & Scalable — Branded as Greene Ridge with long-term tenant base
and appeal to a wide range of buyers including 1031 exchangers and regional
operators.
Compelling Investment Profile — Affordable entry into a supply-constrained rental
market with resilient fundamentals and multiple paths to value creation (including
ancillary storage income).
at 102 Diane Lane, 808 Carolina Drive, 822 Carolina Drive (2 buildings), and 112
Becky Drive (2 buildings) in a proven workforce housing configuration.
Major Capital Improvements Completed — Updated parking lots, new/replaced
roofs, refreshed siding, plus extensive interior remodeling deliver modern finishes,
improved systems, and strong curb appeal with limited near-term capital needs.
Convenient On-Site Amenities — Each building features its own shared laundry
room plus 9 smaller storage units available for additional rental income.
Strong Occupancy & Income Diversification — A vacancy of ~6.33%. Property
Includes 4 active mid-term rental units serving traveling professionals.
Below Market Rents — Modest mark-to-market opportunity with in-place rents
running a little below current market rates.
Proximity to Tusculum University — Conveniently located just minutes from
Tusculum University, supporting consistent demand from students, faculty, staff,
and affiliated professionals.
Prime East Tennessee Market — Excellent proximity to the Nolichucky River
(recreation, tubing, and outdoor activities), manufacturing, healthcare, Tusculum
University, and tourism demand in Greeneville / Greene County with quick access
to Johnson City (~40 min), Knoxville, and Asheville.
Turnkey / Light Value-Add — Heavy lifting done; positioned for strong current cash
flow with straightforward operational and revenue enhancements.
Established & Scalable — Branded as Greene Ridge with long-term tenant base
and appeal to a wide range of buyers including 1031 exchangers and regional
operators.
Compelling Investment Profile — Affordable entry into a supply-constrained rental
market with resilient fundamentals and multiple paths to value creation (including
ancillary storage income).
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $9,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $108,434 | Building Class | C |
| Sale Type | Investment | Building Size | 48,043 SF |
| No. Units | 83 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1978/2025 |
| Zoning | R3 - residential/multi-family | ||
| Price | $9,000,000 |
| Price Per Unit | $108,434 |
| Sale Type | Investment |
| No. Units | 83 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Building Size | 48,043 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built/Renovated | 1978/2025 |
| Zoning | R3 - residential/multi-family |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Storage Space
- High Speed Internet Access
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 51 | - | 507 |
| 2+1 | 32 | - | 694 |
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Somewhat walkable
30/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 099P-B-015.01 | Improvements Assessment | $205,840 |
| Land Assessment | $14,880 | Total Assessment | $220,720 |
Property Taxes
Parcel Number
099P-B-015.01
Land Assessment
$14,880
Improvements Assessment
$205,840
Total Assessment
$220,720
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Greene Ridge | 112 Becky Dr