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Lost Lane Flats 21 Lost Ln 9 Unit Apartment Building $1,460,000 ($162,222/Unit) 6.68% Cap Rate McEwen, TN 37101
Investment Highlights
- Nine-unit multifamily investment comprised of one single-family rental built in 1940, and eight recently constructed apartment units.
- Fully occupied property offering immediate in-place cash flow.
- Recent construction significantly reduces near-term capital expenditure requirements.
- Eight spacious 3 bed/2 bath units provide strong appeal to families and workforce housing tenants.
- Stabilized occupancy demonstrates current demand for the property’s larger unit offerings.
- Individually metered for electricity and water, limiting landlord utility expenses.
Executive Summary
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/307699/lost-lane-flats
Marcus & Millichap has been selected to exclusively market for sale the Lost Lane Flats in McEwen, TN. This offering will allow a potential investor to purchase a rare new investment opportunity located in a supply-constrained rural market.
Lost Lane Flats offers investors the opportunity to acquire a fully occupied nine-unit multifamily asset in McEwen, Tennessee. The property consists of eight recently constructed three-bedroom, two-bath units and a one-bedroom, one-bath single-family rental, providing a desirable mix of modern housing inventory and stabilized cash flow. Situated on 1.32 acres and individually metered for electricity and water, the asset benefits from an efficient operating structure while limiting exposure to utility expense growth. The combination of full occupancy, larger floor plans, and newer construction positions the property as a low-maintenance investment with strong long-term rental appeal.
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 Lost Lane Flats.
Marcus & Millichap has been selected to exclusively market for sale the Lost Lane Flats in McEwen, TN. This offering will allow a potential investor to purchase a rare new investment opportunity located in a supply-constrained rural market.
Lost Lane Flats offers investors the opportunity to acquire a fully occupied nine-unit multifamily asset in McEwen, Tennessee. The property consists of eight recently constructed three-bedroom, two-bath units and a one-bedroom, one-bath single-family rental, providing a desirable mix of modern housing inventory and stabilized cash flow. Situated on 1.32 acres and individually metered for electricity and water, the asset benefits from an efficient operating structure while limiting exposure to utility expense growth. The combination of full occupancy, larger floor plans, and newer construction positions the property as a low-maintenance investment with strong long-term rental appeal.
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 Lost Lane Flats.
Property Facts
| Price | $1,460,000 | Apartment Style | Low-Rise |
| Price Per Unit | $162,222 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.32 AC |
| Cap Rate | 6.68% | Building Size | 8,500 SF |
| No. Units | 9 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2025 |
| Price | $1,460,000 |
| Price Per Unit | $162,222 |
| Sale Type | Investment |
| Cap Rate | 6.68% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.32 AC |
| Building Size | 8,500 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2025 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Refrigerator
- Oven
- Stainless Steel Appliances
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $600.00 | 500 |
| 3+2 | 8 | $1,400 | 1,000 |
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 056-043.00 | Improvements Assessment | $234,680 |
| Land Assessment | $5,480 | Total Assessment | $240,160 |
Property Taxes
Parcel Number
056-043.00
Land Assessment
$5,480
Improvements Assessment
$234,680
Total Assessment
$240,160
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