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7.3 Cap | Value-Add 12 Unit Complex 2465 Benton Young Rd 12 Unit Apartment Building $1,871,694 CAD ($155,975 CAD/Unit) 7.28% Cap Rate Cookeville, TN 38501
INVESTMENT HIGHLIGHTS
- Stabilized 12-Unit Asset – Currently 92% occupied with an all–2 bed / 1 bath unit mix, providing immediate operational stability
- Modern Building Systems - All HVAC units are less than three years old, and the metal roof is under ten years old
- Proximity to Major Demand Drivers - Located minutes from Downtown Cookeville and Tennessee Tech University
- Recent Renovations & Strong Condition - Five fully renovated units, updated kitchen cabinetry in additional units, and fresh exterior paint
- Growing Secondary Market - Cookeville continues to experience population growth, affordable living costs, and expanding economic activity
- Value-Add Upside - Opportunity to continue interior & exterior renovations to achieve higher market rents and further strengthen overall performance
EXECUTIVE SUMMARY
Valley Apartments is a well-maintained 12-unit multifamily community located in the growing Cookeville, Tennessee market. Positioned on a full one-acre parcel, the property consists entirely of spacious 2-bedroom, 1-bath units totaling 6,290 square feet. Each unit is equipped with in-unit laundry—either all-in-one or stackable setups—and the property is supported by ample front and rear parking. Currently 92% occupied, Sun Valley generates consistent operational performance with consistent lease-up opportunities. Proforma Returns a 8.83 Cap with minimal operational changes.
Originally constructed in 1973, the property has received meaningful updates in recent years, including five full interior renovations, upgraded kitchen cabinetry in additional units, and fresh exterior paint. Major systems have also been addressed, with all HVAC units replaced within the last three years and a durable metal roof installed less than ten years ago. These improvements provide both stability and reduced near-term capital exposure for new ownership. The asset is separately metered for electricity with tenant-paid usage, while water is master-metered and reimbursed at $25 per unit per month. Multiple kitchens and bathrooms in this asset offer the opportunity to add value add updates.
With continued interior upgrades and potential refinements to utility reimbursement, investors have opportunities to further enhance NOI. Sun Valley Apartments is strategically located just minutes from Downtown Cookeville and Tennessee Tech University—an area experiencing steady population growth, a strong renter base, and increasing investor interest across the region.
Originally constructed in 1973, the property has received meaningful updates in recent years, including five full interior renovations, upgraded kitchen cabinetry in additional units, and fresh exterior paint. Major systems have also been addressed, with all HVAC units replaced within the last three years and a durable metal roof installed less than ten years ago. These improvements provide both stability and reduced near-term capital exposure for new ownership. The asset is separately metered for electricity with tenant-paid usage, while water is master-metered and reimbursed at $25 per unit per month. Multiple kitchens and bathrooms in this asset offer the opportunity to add value add updates.
With continued interior upgrades and potential refinements to utility reimbursement, investors have opportunities to further enhance NOI. Sun Valley Apartments is strategically located just minutes from Downtown Cookeville and Tennessee Tech University—an area experiencing steady population growth, a strong renter base, and increasing investor interest across the region.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$186,504
|
$20.24
|
| Other Income |
$4,991
|
$0.54
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$191,495
|
$20.78
|
| Taxes |
$4,353
|
$0.47
|
| Operating Expenses |
$50,968
|
$5.53
|
| Total Expenses |
$55,322
|
$6.00
|
| Net Operating Income |
$136,173
|
$14.78
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $186,504 |
| Annual Per SF | $20.24 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,991 |
| Annual Per SF | $0.54 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $191,495 |
| Annual Per SF | $20.78 |
| Taxes (CAD) | |
|---|---|
| Annual | $4,353 |
| Annual Per SF | $0.47 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $50,968 |
| Annual Per SF | $5.53 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $55,322 |
| Annual Per SF | $6.00 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $136,173 |
| Annual Per SF | $14.78 |
PROPERTY FACTS
| Price | $1,871,694 CAD | Building Class | C |
| Price Per Unit | $155,975 CAD | Lot Size | 1.00 AC |
| Sale Type | Investment | Construction Status | Under Renovation |
| Cap Rate | 7.28% | Building Size | 6,290 SF |
| No. Units | 12 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1973/2024 |
| Apartment Style | Low-Rise | Parking Ratio | 1.91/1,000 SF |
| Price | $1,871,694 CAD |
| Price Per Unit | $155,975 CAD |
| Sale Type | Investment |
| Cap Rate | 7.28% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Construction Status | Under Renovation |
| Building Size | 6,290 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2024 |
| Parking Ratio | 1.91/1,000 SF |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Vinyl Flooring
SITE AMENITIES
- Picnic Area
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | $1,487 CAD | 524 |
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PROPERTY TAXES
| Parcel Number | 039-030.01 | Total Assessment | $163,635 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $4,353 CAD ($0.69 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
039-030.01
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$163,635 CAD
Annual Taxes
$4,353 CAD ($0.69 CAD/SF)
Tax Year
2025
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7.3 Cap | Value-Add 12 Unit Complex | 2465 Benton Young Rd
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