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Buffalo Trail Apartments 2215 Buffalo Trl 17 Unité Immeuble d’appartements 1 878 174 $ CAD (110 481 $ CAD/Unité) 7,23% Taux de capitalisation Morristown, TN 37814
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FAITS SAILLANTS DE L'INVESTISSEMENT
- Located in Morristown, TN, a growing Lakeway region city with strong manufacturing and logistics industries supporting long-term rental demand.
- One unit is currently offline, presenting immediate value-add potential through renovation and lease-up.
- Positioned near major employers and industrial parks, ensuring a consistent tenant base and occupancy stability.
- Opportunity to increase rents through interior upgrades and enhanced amenities.
- Current ownership has invested $60,000 in capital improvements over the past 36 months.
RÉSUMÉ DE L'ANNONCE
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/197249/buffalo-trail-apartments
Marcus & Millichap has been selected to exclusively market for sale the Buffalo Trail Apartments in Morristown, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Northeast Tennessee.
Buffalo Trail Apartments is a 17-unit community in Morristown, TN, offering a mix of one- and two-bedroom floor plans with strong value-add potential. The property benefits from proximity to major employers and industrial parks, ensuring stable rental demand, and provides convenient access to US-11E and I-81 for connectivity to Knoxville and Johnson City. Recent capital improvements of $60,000 reduce near-term maintenance risk, while opportunities remain to increase rents through interior upgrades and amenity enhancements. Classic 1935 architecture, individual utility metering, and a manageable property size further enhance operational efficiency and long-term upside.
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 Buffalo Trail Apartments.
Marcus & Millichap has been selected to exclusively market for sale the Buffalo Trail Apartments in Morristown, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Northeast Tennessee.
Buffalo Trail Apartments is a 17-unit community in Morristown, TN, offering a mix of one- and two-bedroom floor plans with strong value-add potential. The property benefits from proximity to major employers and industrial parks, ensuring stable rental demand, and provides convenient access to US-11E and I-81 for connectivity to Knoxville and Johnson City. Recent capital improvements of $60,000 reduce near-term maintenance risk, while opportunities remain to increase rents through interior upgrades and amenity enhancements. Classic 1935 architecture, individual utility metering, and a manageable property size further enhance operational efficiency and long-term upside.
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 Buffalo Trail Apartments.
FAITS SUR LA PROPRIÉTÉ
| Prix | 1 878 174 $ CAD | Classe d’immeuble | C |
| Prix par unité | 110 481 $ CAD | Taille du lot | 1,95 AC |
| Type de vente | Investissement | Taille du bâtiment | 9 772 pi² |
| Taux de capitalisation | 7,23% | Occupation moyenne | 100% |
| Nombre d’unités | 17 | Nombre d’étages | 1 |
| Type de propriété | Immeuble residentiel | Année de construction/rénovation | 1935/2010 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 1,84/1 000 pi² |
| Style d’appartement | De faible hauteur | ||
| Zonage | R-2 - Multi-Family Residential | ||
| Prix | 1 878 174 $ CAD |
| Prix par unité | 110 481 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 7,23% |
| Nombre d’unités | 17 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 1,95 AC |
| Taille du bâtiment | 9 772 pi² |
| Occupation moyenne | 100% |
| Nombre d’étages | 1 |
| Année de construction/rénovation | 1935/2010 |
| Ratio de stationnement | 1,84/1 000 pi² |
| Zonage | R-2 - Multi-Family Residential |
COMMODITÉS
COMMODITÉS DES UNITÉS
- Climatisation
UNITÉ RENSEIGNEMENTS SUR LE MÉLANGE
| DESCRIPTION | NOMBRE D’UNITÉS | LOYER MOYEN/MOIS | pi² |
|---|---|---|---|
| 1+1 | 14 | - | 537 - 750 |
| 2+1 | 3 | - | 750 - 950 |
Impôts fonciers
| Numéro de lot | 025-019.00 | Évaluation des bâtiments | 403 988 $ CAD |
| Évaluation du terrain | 91 906 $ CAD | Évaluation totale | 495 895 $ CAD |
Impôts fonciers
Numéro de lot
025-019.00
Évaluation du terrain
91 906 $ CAD
Évaluation des bâtiments
403 988 $ CAD
Évaluation totale
495 895 $ CAD
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Buffalo Trail Apartments | 2215 Buffalo Trl
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