1206 Parker StColumbia, TN 38401

Property Details for 1206 Parker St

Year built

1997

Lot size

0.53 AC

Property size (Sq ft)

3,000 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

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.

Location Insight

City

Columbia

County

Maury

State

Tennessee

Latitude

35.6084

Longitude

-87.0398

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