208 College StPortland, TN 37148

Property Details for 208 College St

Lot size

4.00 AC

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 15-unit apartment complex situated on a sizable 4-acre lot in Portland, Tennessee. The property boasts 769 feet of road frontage across three city streets and comprises four buildings, each two stories high. Currently operating at 100% occupancy, this multifamily property offers significant income potential. The asking price is $2,599,000, translating to an attractive price per unit of $173,267. Conveniently located within Portland city limits, the complex is within walking distance of various amenities, including shopping, dining, and places of worship. A key advantage is the inclusion of a previously approved vacant area suitable for the construction of a four-unit building (quadruplex), presenting an immediate opportunity for expansion and increased revenue. The property's current owner handles water, pest control, and lawn maintenance. Fourteen of the fifteen units are due for lease renewal, providing a strong foundation for future rental income growth. Please note that the property is currently fully occupied, and showings are scheduled exclusively during the inspection period outlined in the purchase agreement. A photo of a vacant unit is available for review. This is a rare opportunity to acquire a well-maintained, high-occupancy multifamily property with significant upside potential in a desirable location. The property is zoned for multifamily use.

Location Insight

City

Portland

County

Sumner

State

Tennessee

Latitude

36.5831

Longitude

-86.5202

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].