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[ml_number] => 2925420
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[description] => Cookeville, TN | 14,040 SF | 1.8 Acres | Zoned RM-8 | Opportunity Zone Great Investment Opportunity – 15 Townhome-Style Units Located less than 1 mile from Tennessee Tech University, this well-positioned multifamily asset features 15 spacious townhome-style units spread across three buildings totaling 14,040 square feet on a 1.8-acre lot. Built in 1991, each unit offers 2 bedrooms, 1.5 bathrooms, and multi-level living, making it highly attractive to both long-term tenants and student renters. Property Highlights: Stable in-place cash flow with average rents of $950/month per unit Strong occupancy driven by proximity to Tennessee Tech University Recent capital improvements: 11 new HVAC systems installed within the last 3 years 30-year architectural roofs installed in 2017 Zoned RM-8, allowing for residential density flexibility Located in a federally designated Opportunity Zone — favorable for long-term investors seeking tax advantages Value-Add Potential: Implement RUBS utility billing for water/sewer to improve NOI Interior renovations and strategic rent increases offer significant upside Potential to modernize units and common areas for increased appeal
[location] => stdClass Object
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[city] => Cookeville
[state] => Tennessee
[postal_code] => 38501
[county] => Putnam County, TN
[subdivision] => Multifamily 15 unit development
[street] => stdClass Object
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[number] => 492
[name] => W 9th St
[full] => 492 W 9th St
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[directions] => Tennessee Tech University, 1 William L Jones Dr, Cookeville, TN 38505 (Main entrance at the intersection of Dixie Ave and William L Jones Dr) Step-by-step: Exit campus heading west on William L Jones Dr. At the traffic light, turn left onto N Willow Av
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[square_feet] => stdClass Object
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[size] => 14040
[source] => Assessor
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[stories] => 2
[built_in] => 1991
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[surroundings] => stdClass Object
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[school] => stdClass Object
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[elementary] => Sycamore Elementary
[junior] => Avery Trace Middle School
[high] => Cookeville High School
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[last_updated] => stdClass Object
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[office] => stdClass Object
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[name] => Martin Real Estate, LLC
[broker_id] => 52423
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[name] => stdClass Object
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[first] => Ethan
[middle] => H
[last] => Dolan
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[phone] => stdClass Object
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[agent_id] => 73860
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[1] => stdClass Object
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[last] => Martin
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[agent_id] => 54800
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Exterior Details
- ConstructionVinyl Siding
- Built In1991
- Stories2
- SewerPublic Sewer