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Jefferson City Multifamily 5 Multifamily Properties Offered at $2,877,545 CAD in Jefferson City, TN
Investment Highlights
- Rare opportunity to acquire a 16-unit multifamily portfolio across five buildings in Jefferson City, Tennessee.
- Individually metered for water and electric, reducing operating expense burden.
- Well-positioned workforce housing asset in a market with limited multifamily inventory.
- Current rents are $155 below the market rate.
- Opportunity to increase revenue through continued rent growth and operational efficiencies.
Executive Summary
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/306798/jefferson-city-multifamily-portfolio
Marcus & Millichap has been selected to exclusively market for sale the Jefferson City Multifamily Portfolio in Jefferson City, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity within East Tennessee’s growing Lakeway region.
The Jefferson City Multifamily Portfolio offers the opportunity to acquire a 16-unit multifamily asset across five buildings and five parcels in Jefferson City, Tennessee. Current rents average approximately $155 below market, providing a clear path to increased revenue through future rent growth while maintaining occupancy. Constructed between 1996 and 1997, the portfolio benefits from a newer vintage and features individually metered water and electricity, reducing operating expense burden. Located within East Tennessee’s growing Lakeway region with convenient access to Highway 11E, Morristown, and Knoxville employment centers, the property is well-positioned to serve workforce renters in a market characterized by limited multifamily inventory and strong long-term housing demand.
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 these properties.
Marcus & Millichap has been selected to exclusively market for sale the Jefferson City Multifamily Portfolio in Jefferson City, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity within East Tennessee’s growing Lakeway region.
The Jefferson City Multifamily Portfolio offers the opportunity to acquire a 16-unit multifamily asset across five buildings and five parcels in Jefferson City, Tennessee. Current rents average approximately $155 below market, providing a clear path to increased revenue through future rent growth while maintaining occupancy. Constructed between 1996 and 1997, the portfolio benefits from a newer vintage and features individually metered water and electricity, reducing operating expense burden. Located within East Tennessee’s growing Lakeway region with convenient access to Highway 11E, Morristown, and Knoxville employment centers, the property is well-positioned to serve workforce renters in a market characterized by limited multifamily inventory and strong long-term housing demand.
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 these properties.
Property Facts
| Price | $2,877,545 CAD | Number of Properties | 5 |
| Price / SF | $54.15 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 6.34% | Total Building Size | 53,140 SF |
| Sale Type | Investment | Total Land Area | 3.18 AC |
| Status | Active |
| Price | $2,877,545 CAD |
| Price / SF | $54.15 CAD / SF |
| Cap Rate | 6.34% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 53,140 SF |
| Total Land Area | 3.18 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1049 Martha Glass Dr, Jefferson City, TN 37760 | Multifamily | 22,174 SF | 1996 | - |
| 1050 Martha Glass Dr, Jefferson City, TN 37760 | Multifamily | 22,174 SF | 1996 | - |
| 1057 Martha Glass Dr, Jefferson City, TN 37760 | Multifamily | 4,416 SF | 1997 | - |
| 1837 Clover Brook Dr, Jefferson City, TN 37760 | Multifamily | 2,756 SF | 1997 | - |
| 1914 Alcorn Dr, Jefferson City, TN 37760 | Multifamily | 1,620 SF | 1996 | - |
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