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Rent-Subsidized East Gate Village Apartments 515 Nash St 100 Apartment Units Online Auction Sale Union City, TN 38261
Matterport 3D Tour
Investment Highlights
- East Gate Village Apartments present a 19-building, 100-unit apartment complex covered by a project-based Section 8 subsidy contract through 2032.
- Section 8 contract allows buyers to utilize the program to fill the property upon purchase.
- Attractive unit mix of one-, two-, three-, and four-bedroom units, with sizes averaging 500, 700, 900, and 1,000 square feet.
- Located within Qualified Census Tracts (QCT), eligible for a 30% basis boost.
- Jackson is about 65 miles south, Memphis is 117 miles southeast, and Nashville is 155 miles east; all three are within a three-hour car ride.
- The HAP Contract has been abated but can be reinstated upon a qualified owner obtaining approval to purchase the project through HUD.
Executive Summary
SAB Capital is pleased to present the distinct value-add multifamily asset of the East Gate Village Apartments at 515 Nash Street in Union City, Tennessee. The apartment complex spans 19 buildings and offers one-, two-, three-, and four-bedroom units. Presented vacant to the market with an active Section 8 contract in place through 2032, a new owner has a streamlined approach to expedited leasing momentum.
Union City is a distinctive Southern city with an attractive Main Street district and an active community. Points of interest nearby include the Reelfoot Shopping Center, Big Lots Center, Cades Shopping Center, all within 3 miles, and the Baptist Memorial Hospital of Union City is a three-minute drive. Interstate 69 and US Mainstream shopping options like Walmart Supercenter, Lowe’s, and T.J. Maxx are on the southwest side of town along US Highway 51. Highway 51 is Union City’s key connection to the rest of West Tennessee. Union City is also about 14 miles northwest of the University of Tennessee at Martin, a popular choice for local students interested in having their own college experiences while still being close to home.
East Gate Village Apartment’s 10-mile radius sees a population of 22,836 and an average household income just shy of $59,000, aligning with the capability to generate leasing momentum for the local population. Obion County's largest industries are food processing, healthcare, and manufacturing. Major local employers include Tyson Foods, Williams Sausage Company, Baptist Memorial Hospital, Titan Tire, and Kohler.
Property tours are available by appointment only. Please contact the broker to schedule.
Union City is a distinctive Southern city with an attractive Main Street district and an active community. Points of interest nearby include the Reelfoot Shopping Center, Big Lots Center, Cades Shopping Center, all within 3 miles, and the Baptist Memorial Hospital of Union City is a three-minute drive. Interstate 69 and US Mainstream shopping options like Walmart Supercenter, Lowe’s, and T.J. Maxx are on the southwest side of town along US Highway 51. Highway 51 is Union City’s key connection to the rest of West Tennessee. Union City is also about 14 miles northwest of the University of Tennessee at Martin, a popular choice for local students interested in having their own college experiences while still being close to home.
East Gate Village Apartment’s 10-mile radius sees a population of 22,836 and an average household income just shy of $59,000, aligning with the capability to generate leasing momentum for the local population. Obion County's largest industries are food processing, healthcare, and manufacturing. Major local employers include Tyson Foods, Williams Sausage Company, Baptist Memorial Hospital, Titan Tire, and Kohler.
Property tours are available by appointment only. Please contact the broker to schedule.
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Data Room Click Here to Access
- Operating and Financial Statements
- Purchase Agreement
- Miscellaneous
- Third Party Reports
- Title and Insurance
Property Facts
| Sale Type | Investment | Apartment Style | Garden |
| Sale Condition | Auction Sale | Building Class | C |
| Type of Ownership | Fee Simple | Lot Size | 11.51 AC |
| No. Units | 100 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parcel Number | 049-035.01 |
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 11.51 AC |
| No. Stories | 2 |
| Year Built | 1971 |
| Parcel Number | 049-035.01 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Sale Advisors
Sale Advisors
John Snee,
Vice President | Investment Sales
John Snee is a Vice President of Investment Sales at SAB Capital leading the Affordable Housing vertical. John graduated from Sacred Heart University with a B.S. in Finance and previously worked at one of the fastest-growing affordable housing owners, operators, and development companies in the country. He led the acquisitions team and participated in more than $200 million in acquisitions and low-income housing tax credit (LIHTC) developments.
Before this, he worked in Investment Sales as both an agent and analyst, where he transacted on industrial properties across the country. Additionally, John coordinated disposition programs for some of the country’s largest institutional real estate companies, including publicly-traded REITs and public/private franchisors. He has underwritten $2 billion worth of commercial real estate and has built a wealth of experience spanning all industry sectors.
Before this, he worked in Investment Sales as both an agent and analyst, where he transacted on industrial properties across the country. Additionally, John coordinated disposition programs for some of the country’s largest institutional real estate companies, including publicly-traded REITs and public/private franchisors. He has underwritten $2 billion worth of commercial real estate and has built a wealth of experience spanning all industry sectors.
Brian Brockman,
President
Brian is one of a handful of real estate brokers and auctioneers who is licensed in all 50 states and the District of Columbia. Brian has over 15 years in asset management experience and has sold properties for investors, developers, and many local, national, and international financial institutions. Over the last 10 years, Brian has grown his two-person real estate sales team in Cincinnati, OH into a nationally recognized commercial brokerage. Brian is known for finding solutions and repositioning assets to maximize their value while mitigating risk for his clients. Brian has sold a former Fortune 100 corporate campus, hospital, golf course, car wash, churches, and abandoned apartment buildings that many other brokers refused or failed to market effectively. Brian also specializes in the analysis, acquisition, and sale of commercial real estate debt and single-family residential loan pools. Brian has a dual BSBA in Finance and Economics from Xavier University.
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Auction Contact
Casey Harrell
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 265318. (888) 952-6393
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John Snee
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POWER BROKER
Brian Brockman
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SAB Capital
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Rent-Subsidized East Gate Village Apartments | 515 Nash St
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