117-121 Bennett DrClarksville, TN 37042

Property Details for 117-121 Bennett Dr

Year built

1990

Lot size

2.03 AC

Property size (Sq ft)

3,038 SF

Zone code

R-4

Property type

Retail residential properties

APN

054F D 02100 000

APU

054FD02100000

Description

This exceptional 58-unit apartment complex in Clarksville, Tennessee, presents a compelling investment opportunity. Located at multiple addresses on Bennett Dr and Darlene Dr, Clarksville, TN 37042, this stabilized multifamily property boasts a 95% occupancy rate as of October 29, 2024, and a strong net operating income (NOI) of $440,319. The property comprises ten buildings, each two stories high, totaling 58 units. Built in the 1990s and extensively renovated in 2023, the property features a mix of unit sizes, with the majority being two-bedroom, one-bathroom apartments. The asking price is $7,750,000, representing a price per unit of $133,620.69 and a 5.68% capitalization rate. The property benefits from its location in a rapidly growing area of Clarksville, a city experiencing significant population growth and economic prosperity. This turnkey asset offers a seamless transition for new ownership, with the potential for continued strong rental income and appreciation. The property's strong performance and recent renovations make it an attractive investment for those seeking a stable, high-performing multifamily asset in a thriving market. The property is classified as Class B.

• CAP approach

  CAP return

  Valuation

  6%

  $650,778

  6.5%

  $600,718

  7%

  $557,810

• Comparable approach

  Method

  Valuation

  Relative Method

  $405,342

  Geo Method

  $405,342

• Alternative Use

  Use

  Valuation

  Residential

  $600,718

  Hospitality

  $550,254

  Educational

  $457,805

  Medical

  $473,550

  Retail

  $712,141

Location Insight

City

Clarksville

County

Montgomery

State

Tennessee

Latitude

36.5515

Longitude

-87.4018

CBSA code

17300

CBSA name

CLARKSVILLE, TN-KY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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