1045 Fisk Rd
Cookeville, TN 38501
The Bellevue at 1045 · Immeuble residentiel Propriété À vendre · 80 Unités

Bellevue at 1045 presents the opportunity to acquire a stabilized, fully renovated 80-unit, all-2BR (with washer/dryer) community in Cookeville, Tennessee, the economic and educational hub of the Upper Cumberland. A completed approximately $2.0 million capital program, completed in the last three years, has comprehensively addressed deferred maintenance and modernized unit interiors, positioning the asset for durable, low-maintenance cash flow with minimal forward capital requirements. 
The investment is underpinned by a supply-constrained market posting 3.2% rent growth at 4.3% vacancy with no new construction underway or planned; university-anchored demand from Tennessee Tech’s decade-high enrollment of 10,701; an expanding employment base that has drawn nearly $1 billion of investment to the Upper Cumberland since 2020; and one of Tennessee’s deepest affordability advantages, with housing roughly 21% below the national average. The 100% 2BR configuration aligns directly with the largest and most stable segment of local renter demand. 
With the value-add business plan already executed, remaining upside is operational, including lease trade-out / mark-to-market at turnover and incremental storage income, rather than capital-intensive. Acquired at a discount to replacement cost with limited future CapEx, Bellevue at 1045 offers a high yield-oriented return profile supported by durable demand drivers and meaningful downside protection.