For Sale
$449,000

1206 Parker StColumbia, TN 38401

4-Unit Value-Add Apartment Portfolio

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 4-unit multifamily property located at 1206 Parker St, Columbia, TN 38401. The property, built in 1997 and renovated in 2021, comprises four individual buildings situated on a 0.53-acre lot. Each unit boasts 2+ bedrooms and 1 bathroom, totaling 3,000 square feet. Currently operating at 25% occupancy, this Class D property offers significant value-add potential. With a pro-forma NOI of $44,000 and a pro-forma cap rate of 9.80%, this presents a strong return on investment. Previously renting for $1,000 per month, there's substantial upside potential for rental income increases. The asking price is $449,000, translating to $112,250 per unit and $149.67 per square foot. This property is ideal for investors seeking immediate equity and the opportunity to increase rental income through renovations and increased occupancy. The property's location in the heart of Columbia, TN, provides access to a growing market. This is a rare chance to acquire a multifamily portfolio with significant upside potential in a thriving Tennessee city.

Highlights

  • Exceptional value-add opportunity in Columbia, TN.
  • Four-unit multifamily property on a 0.53-acre lot, built in 1997, renovated in 2021.
  • Each unit features 2+ bedrooms, 1 bath, totaling 3,000 square feet.
  • Currently 25% occupied, offering significant upside potential with pro-forma NOI of $44,000 and a 9.80% cap rate.
  • Asking price: $449,000 ($112,250 per unit, $149.67 PSF).

Property Details for 1206 Parker St

Property type
Residential income homes, Apartment buildings
Square Feet
3,000 SF
Class
D
Year Built/Renovated
1997/2021
Buildings
4
Stories
1
Lot Size (sq. ft)
23,087 SF
Units
4

Location Insight

City
Columbia
County
Maury
State
Tennessee
Latitude
35.608428657421
Longitude
-87.039806505073
1206 Parker St, Columbia, Tennessee

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1206 Parker St
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