Lakeside Manor Apartments — Sale in New Johnsonville, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: New Johnsonville, TN 37134

Investment Figures

Cap rate
6.52%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market the sale of Lakeside Manor Apartments in New Johnsonville, Tennessee. This offering provides investors the opportunity to acquire a value-add multifamily asset in a low-density, workforce-oriented market with limited competing supply. Lakeside Manor is a 24-unit, garden-style multifamily asset located on 1.56 acres in New Johnsonville, Tennessee. The property is comprised entirely of 2-bedroom / 1-bath units at 780 square feet and serves a stable, workforce-oriented renter base. Approximately $341,520 has been invested into the asset over the past three years, with the majority of units already renovated, positioning the property for durable cash flow with remaining upside through completion of the renovation program and in-unit washer and dryer installations. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of Lakeside Manor. Investment Highlights: • 24-unit garden-style multifamily asset on 1.56 acres with all 2 bed / 1 bath units • $341,520 invested in capital improvements over the past three years • Approximately 21 of the 24 units were renovated at a cost of roughly $5,000 per unit. Renovations include unit turns, appliance replacement, and system upgrades • Significant remaining upside through completion of unit renovations and washer and dryer installation • Individually metered for water and electricity

Market Context

This multifamily in New Johnsonville, TN is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 87 days. Compare it against other multifamily listings for sale in New Johnsonville, TN — view the full market.

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