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Todd-Meharry Apartments 1806 Meharry Blvd 14 Unit Apartment Building $2,063,730 CAD ($147,409 CAD/Unit) 6.23% Cap Rate Nashville, TN 37208
Investment Highlights
- Combined 14-unit offering consisting of a 13-unit multifamily building and a standalone rental home next door
- Strong rental upside with current rents significantly below market for North Nashville
- Potential to implement RUBS or utility bill-back programs to enhance NOI
- Efficient unit mix with predominantly 1-bedroom layouts ideal for student, healthcare, and workforce tenants
- Excellent opportunity for value-add repositioning through interior upgrades and rent normalization
- Walkable location adjacent to Fisk University and Nashville General Hospital
Executive Summary
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/202612/toddmeharry-apartments
Marcus & Millichap has been selected to exclusively market for sale the Todd-Meharry Apartments located just minutes from downtown Nashville. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Nashville, TN.
This 14-unit offering includes a 13-unit multifamily building at 1037 DB Todd Boulevard and a single-family rental home next door at 1806 Meharry Boulevard, creating a rare small-scale portfolio in a tightly supplied North Nashville corridor. The unit mix is predominantly efficient one-bedroom layouts supported by strong demand from nearby universities and healthcare employers. Both assets are within walking distance of Fisk University and Nashville General Hospital and minutes from Downtown Nashville, Midtown, and the North Gulch. With rents well below market and multiple value-add levers including interior upgrades, RUBS implementation, and repositioning of the standalone home, new ownership has a compelling opportunity to enhance NOI. The central location, durable tenant base, and strong submarket fundamentals support both immediate operational upside and long-term exit flexibility.
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 the Todd-Meharry Apartments.
Marcus & Millichap has been selected to exclusively market for sale the Todd-Meharry Apartments located just minutes from downtown Nashville. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Nashville, TN.
This 14-unit offering includes a 13-unit multifamily building at 1037 DB Todd Boulevard and a single-family rental home next door at 1806 Meharry Boulevard, creating a rare small-scale portfolio in a tightly supplied North Nashville corridor. The unit mix is predominantly efficient one-bedroom layouts supported by strong demand from nearby universities and healthcare employers. Both assets are within walking distance of Fisk University and Nashville General Hospital and minutes from Downtown Nashville, Midtown, and the North Gulch. With rents well below market and multiple value-add levers including interior upgrades, RUBS implementation, and repositioning of the standalone home, new ownership has a compelling opportunity to enhance NOI. The central location, durable tenant base, and strong submarket fundamentals support both immediate operational upside and long-term exit flexibility.
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 the Todd-Meharry Apartments.
Property Facts
| Price | $2,063,730 CAD | Building Class | C |
| Price Per Unit | $147,409 CAD | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 9,400 SF |
| Cap Rate | 6.23% | No. Stories | 2 |
| No. Units | 14 | Year Built | 1939 |
| Property Type | Multifamily | Parking Ratio | 1.28/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM20 | ||
| Price | $2,063,730 CAD |
| Price Per Unit | $147,409 CAD |
| Sale Type | Investment |
| Cap Rate | 6.23% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 9,400 SF |
| No. Stories | 2 |
| Year Built | 1939 |
| Parking Ratio | 1.28/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM20 |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Ceiling Fans
- Kitchen
- Tub/Shower
- Vinyl Flooring
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,150 CAD | 400 - 550 |
| 2+1 | 2 | $1,435 CAD | 700 - 1,000 |
| 2+2 | 1 | $1,871 CAD | 1,200 |
| 3+1 | 1 | $2,064 CAD | 1,600 |
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Very walkable
80/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $757,416 CAD | |
| Land Assessment | $321,254 CAD | Total Assessment | $1,078,670 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$321,254 CAD
Improvements Assessment
$757,416 CAD
Total Assessment
$1,078,670 CAD
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Todd-Meharry Apartments | 1806 Meharry Blvd
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