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7.3 Cap | Value-Add 12 Unit Complex 2465 Benton Young Rd 12 Unité Immeuble d’appartements 1 871 694 $ CAD (155 975 $ CAD/Unité) 7,28% Taux de capitalisation Cookeville, TN 38501
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FAITS SAILLANTS DE L'INVESTISSEMENT
- 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
RÉSUMÉ DE L'ANNONCE
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.
BILAN FINANCIER (RÉEL - 2025) |
ANNUEL (CAD) | ANNUEL PAR pi² (CAD) |
|---|---|---|
| Revenu de location brut |
186 504 $
|
20,24 $
|
| Autres revenus |
4 991 $
|
0,54 $
|
| Perte due à l’inoccupation |
-
|
-
|
| Revenu brut effectif |
191 495 $
|
20,78 $
|
| Taxes |
4 353 $
|
0,47 $
|
| Dépenses d’exploitation |
50 968 $
|
5,53 $
|
| Total des dépenses |
55 322 $
|
6,00 $
|
| Revenu net d’exploitation |
136 173 $
|
14,78 $
|
BILAN FINANCIER (RÉEL - 2025)
| Revenu de location brut (CAD) | |
|---|---|
| Annuel | 186 504 $ |
| Annuel par pi² | 20,24 $ |
| Autres revenus (CAD) | |
|---|---|
| Annuel | 4 991 $ |
| Annuel par pi² | 0,54 $ |
| Perte due à l’inoccupation (CAD) | |
|---|---|
| Annuel | - |
| Annuel par pi² | - |
| Revenu brut effectif (CAD) | |
|---|---|
| Annuel | 191 495 $ |
| Annuel par pi² | 20,78 $ |
| Taxes (CAD) | |
|---|---|
| Annuel | 4 353 $ |
| Annuel par pi² | 0,47 $ |
| Dépenses d’exploitation (CAD) | |
|---|---|
| Annuel | 50 968 $ |
| Annuel par pi² | 5,53 $ |
| Total des dépenses (CAD) | |
|---|---|
| Annuel | 55 322 $ |
| Annuel par pi² | 6,00 $ |
| Revenu net d’exploitation (CAD) | |
|---|---|
| Annuel | 136 173 $ |
| Annuel par pi² | 14,78 $ |
FAITS SUR LA PROPRIÉTÉ
| Prix | 1 871 694 $ CAD | Classe d’immeuble | C |
| Prix par unité | 155 975 $ CAD | Taille du lot | 1,00 AC |
| Type de vente | Investissement | État de la construction | En cours de rénovation |
| Taux de capitalisation | 7,28% | Taille du bâtiment | 6 290 pi² |
| Nombre d’unités | 12 | Occupation moyenne | 92% |
| Type de propriété | Immeuble residentiel | Nombre d’étages | 2 |
| Sous-type de propriété | Appartement | Année de construction/rénovation | 1973/2024 |
| Style d’appartement | De faible hauteur | Ratio de stationnement | 1,91/1 000 pi² |
| Prix | 1 871 694 $ CAD |
| Prix par unité | 155 975 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 7,28% |
| Nombre d’unités | 12 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 1,00 AC |
| État de la construction | En cours de rénovation |
| Taille du bâtiment | 6 290 pi² |
| Occupation moyenne | 92% |
| Nombre d’étages | 2 |
| Année de construction/rénovation | 1973/2024 |
| Ratio de stationnement | 1,91/1 000 pi² |
COMMODITÉS
- Détecteur de fumée
COMMODITÉS DES UNITÉS
- Climatisation
- Micro-ondes
- Laveuse/Sécheuse
- Connexions pour laveuse/Sécheuse
- Chauffage
- Ventilateurs de plafond
- Cuisine
- Réfrigérateur
- Four
- Fourchette
- Bain/Douche
- Plancher de vinyle
COMMODITÉS DU SITE
- Espace de pique-nique
UNITÉ RENSEIGNEMENTS SUR LE MÉLANGE
| DESCRIPTION | NOMBRE D’UNITÉS | LOYER MOYEN/MOIS | pi² |
|---|---|---|---|
| 2+1 | 12 | 1 487 $ CAD | 524 |
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Impôts fonciers
| Numéro de lot | 039-030.01 | Évaluation totale | 163 635 $ CAD |
| Évaluation du terrain | 0 $ CAD | Impôts annuels | 4 353 $ CAD (0,69 $ CAD/pi²) |
| Évaluation des bâtiments | 0 $ CAD | Année d’imposition | 2025 |
Impôts fonciers
Numéro de lot
039-030.01
Évaluation du terrain
0 $ CAD
Évaluation des bâtiments
0 $ CAD
Évaluation totale
163 635 $ CAD
Impôts annuels
4 353 $ CAD (0,69 $ CAD/pi²)
Année d’imposition
2025
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7.3 Cap | Value-Add 12 Unit Complex | 2465 Benton Young Rd
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