492 W 9th St new Save Request In-Person Tour Request Virtual Tour
Cookeville,TN 38501
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,040 sqft
Price per Sqft $137
Subdivision Multifamily 15 Unit Development
MLS Listing ID 2925420
HOA Y/N No
Year Built 1991
Annual Tax Amount $13,116
Property Description
Cookeville, TN | 14,040 SF | 1.8 Acres | Zoned RM-8 | Opportunity Zone Great Investment Opportunity – 15 Townhome-Style Units Located less than 1 mile from Tennessee Tech University, this well-positioned multifamily asset features 15 spacious townhome-style units spread across three buildings totaling 14,040 square feet on a 1.8-acre lot. Built in 1991, each unit offers 2 bedrooms, 1.5 bathrooms, and multi-level living, making it highly attractive to both long-term tenants and student renters. Property Highlights: Stable in-place cash flow with average rents of $950/month per unit Strong occupancy driven by proximity to Tennessee Tech University Recent capital improvements: 11 new HVAC systems installed within the last 3 years 30-year architectural roofs installed in 2017 Zoned RM-8, allowing for residential density flexibility Located in a federally designated Opportunity Zone — favorable for long-term investors seeking tax advantages Value-Add Potential: Implement RUBS utility billing for water/sewer to improve NOI Interior renovations and strategic rent increases offer significant upside Potential to modernize units and common areas for increased appeal
Location
State TN
County Putnam County
Zoning R-8
Interior
Heating Central
Cooling Ceiling Fan(s),Central Air
Flooring Carpet,Wood
Fireplace N
Exterior
Utilities Available Water Available
View Y/N true
View City
Private Pool false
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction false
Schools
Elementary Schools Sycamore Elementary
Middle Schools Avery Trace Middle School
High Schools Cookeville High School
Others
Special Listing Condition Standard