224 Garfield Street Anderson Place Apartments | 224 Garfield St
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224 Garfield Street Anderson Place Apartments 224 Garfield St
10 Unit Apartment Building $907,236 CAD ($90,724 CAD/Unit) 4.64% Cap Rate McMinnville, TN 37110
Investment Highlights
- Upper and lower parking(Ample parking)
- Trash dumpster on site.
- Quite facility with minimal issues.
- Laundry separate from the units.(No sound complaints)
- Mostly walk in basement for ease of maintenance.
- Many long term Tenants/Good consistent cash flow.
Executive Summary
Many of the units have long term tenants with good consistent cash flow. 10 of 10 units are rented.
New vinyl siding has been installed.(increase to purchase price reflected)
Updated 2023 financials available for registered LoopNet users.
5 of the 10 HVAC units are newer high quality units.
There is ample parking on the street level with extra parking in the lower lot.
One story level units with easy move-in.
No laundry in units. Easy maintenance in most units under the building.
Rent Rates for Tenants starting in July are: Apartments 1 & 2 $500 Apartments 3-10 $480.00
If you have any questions feel free to call 931-473-8718. I can show the building and an apartment on request. Please contact the office prior to visiting the facility.
New vinyl siding has been installed.(increase to purchase price reflected)
Updated 2023 financials available for registered LoopNet users.
5 of the 10 HVAC units are newer high quality units.
There is ample parking on the street level with extra parking in the lower lot.
One story level units with easy move-in.
No laundry in units. Easy maintenance in most units under the building.
Rent Rates for Tenants starting in July are: Apartments 1 & 2 $500 Apartments 3-10 $480.00
If you have any questions feel free to call 931-473-8718. I can show the building and an apartment on request. Please contact the office prior to visiting the facility.
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $907,236 CAD | Building Class | C |
| Price Per Unit | $90,724 CAD | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 6,000 SF |
| Cap Rate | 4.64% | Average Occupancy | 70% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1985/1996 |
| Property Subtype | Apartment | Parking Ratio | 2.5/1,000 SF |
| Apartment Style | Low Rise |
| Price | $907,236 CAD |
| Price Per Unit | $90,724 CAD |
| Sale Type | Investment |
| Cap Rate | 4.64% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 70% |
| No. Stories | 1 |
| Year Built/Renovated | 1985/1996 |
| Parking Ratio | 2.5/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- Laundry Facilities
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PROPERTY TAXES
| Parcel Number | 059N-C-048.00 | Total Assessment | $141,062 CAD |
| Land Assessment | $26,051 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $115,011 CAD | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
059N-C-048.00
Land Assessment
$26,051 CAD
Improvements Assessment
$115,011 CAD
Total Assessment
$141,062 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
zoning
| Zoning Code | C-2, R-1 (C-2, R-1) |
| C-2, R-1 (C-2, R-1) |
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Tri State Development & Construction Company
224 Garfield Street Anderson Place Apartments | 224 Garfield St
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