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Maplewood Apartments 2000 Old Tullahoma Rd 36 Unit Apartment Building $4,035,000 ($112,083/Unit) 7.74% Cap Rate Winchester, TN 37398
INVESTMENT HIGHLIGHTS
- Approximately $850,000 has been invested in capital improvements over the last 36 months.
- Fully rehabbed units completed in 2022 include new flooring, kitchens, appliances, HVAC systems, plumbing, windows, doors, lighting, and paint.
- All HVAC systems on the property were replaced in 2022
EXECUTIVE SUMMARY
Link to the Deal Room & Financials: https://www.marcusmillichap.com/properties/184896/maplewood-apartments
Marcus & Millichap has been selected to exclusively market for sale the Maplewood Apartments in Winchester, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Winchester, TN.
Maplewood Apartments is a 36-unit, 2-bedroom/1.5-bath community built in 1980 and extensively renovated over the past three years with approximately $850,000 in capital improvements. All units were rehabbed in 2022 and now feature updated flooring, kitchens, appliances, HVAC systems, plumbing, and more. Each unit includes in-unit laundry, and most have stainless steel appliances. The property sits on slab foundations with copper plumbing and wiring, a metal roof in good condition, and all HVAC systems replaced. Located in Winchester, TN, the asset presents a compelling value-add opportunity for multifamily investors.
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 an assumption of debt in palce for the Maplewood Apartments and all cash to be paid at closing.
AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE MAPLEWOOD APARTMENTS.
Marcus & Millichap has been selected to exclusively market for sale the Maplewood Apartments in Winchester, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Winchester, TN.
Maplewood Apartments is a 36-unit, 2-bedroom/1.5-bath community built in 1980 and extensively renovated over the past three years with approximately $850,000 in capital improvements. All units were rehabbed in 2022 and now feature updated flooring, kitchens, appliances, HVAC systems, plumbing, and more. Each unit includes in-unit laundry, and most have stainless steel appliances. The property sits on slab foundations with copper plumbing and wiring, a metal roof in good condition, and all HVAC systems replaced. Located in Winchester, TN, the asset presents a compelling value-add opportunity for multifamily investors.
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 an assumption of debt in palce for the Maplewood Apartments and all cash to be paid at closing.
AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE MAPLEWOOD APARTMENTS.
PROPERTY FACTS
| Price | $4,035,000 | Apartment Style | Townhome |
| Price Per Unit | $112,083 | Building Class | C |
| Sale Type | Investment | Lot Size | 4.00 AC |
| Cap Rate | 7.74% | Building Size | 36,736 SF |
| No. Units | 36 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1980/1987 |
| Property Subtype | Apartment |
| Price | $4,035,000 |
| Price Per Unit | $112,083 |
| Sale Type | Investment |
| Cap Rate | 7.74% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 4.00 AC |
| Building Size | 36,736 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1980/1987 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Free
- Wi-Fi
- Online Services
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 36 | - | 950 |
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PROPERTY TAXES
| Parcel Number | 055P-C-001.01 | Improvements Assessment | $957,040 |
| Land Assessment | $36,320 | Total Assessment | $993,360 |
PROPERTY TAXES
Parcel Number
055P-C-001.01
Land Assessment
$36,320
Improvements Assessment
$957,040
Total Assessment
$993,360
CONTACTS
-
Patrick Cosgrove -
Daniel Cosgrove -
Harrison Johnson -
Isaac Geoghegan -
Marcus & Millichap
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Maplewood Apartments | 2000 Old Tullahoma Rd
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