N Main 306 Apartments 306 N Main St 18 Unit Apartment Building $1,275,000 ($70,833/Unit) 7.29% Cap Rate Lexington, TN 38351

Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/192587/n-main-306-apartments
Marcus & Millichap has been selected to exclusively market for sale the N Main 306 Apartments in Lexington, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in West Tennessee.
N Main 306 Apartments is an 18-unit multifamily property located in Lexington, Tennessee. Built in 1978 on 2.10 acres, the community is composed entirely of two-bedroom units, appealing to a broad tenant base seeking functional layouts and affordability. Over the past 36-months, ownership has invested over $61,000 in capital improvements, including the replacement of 10 HVAC systems and minor unit upgrades across the property. The asset sits in a convenient location between Memphis and Nashville, with Jackson just a short drive away—offering residents access to regional employers, shopping, and services while maintaining the benefits of a smaller, more affordable market.
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 N Main 306 Apartments.