MIDDLE TENNESSEE REAL ESTATE
MIDDLE TENNESSEE REAL ESTATE
492 W 9th St, Cookeville, TN 38501 For Sale
- 14,040 sq ft
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
Property Details
Status : Active
Source : RealTracs, Inc.
Address : 492 W 9th St Cookeville TN 38501
County : Putnam County, TN
Property Type : Residential Income
Area : 14,040 sq. ft.
Year Built : 1991
Exterior Construction : Vinyl Siding
Floors : Carpet,Wood
Heat : Central
HOA / Subdivision : Multifamily 15 unit development
Listing Provided by : Martin Real Estate, LLC
MLS Status : Active
Listing # : RTC2925420
Schools near 492 W 9th St, Cookeville, TN 38501 :
Sycamore Elementary, Avery Trace Middle School, Cookeville High School
Additional details
Heating : Yes
Building Area Total : 14040 Sq. Ft.
Living Area : 14040 Sq. Ft.
Property Attached : Yes
Office Phone : 6157965388
Possession : Close Of Escrow
Cooling : 1
Levels : One
Stories : 2
Utilities : Water Available
Parking Space : 50
Sewer : Public Sewer
Location 492 W 9th St, TN 38501
Directions to 492 W 9th St, TN 38501
Tennessee Tech University, 1 William L Jones Dr, Cookeville, TN 38505 (Main entrance at the intersection of Dixie Ave and William L Jones Dr) Step-by-step: Exit campus heading west on William L Jones Dr. At the traffic light, turn left onto N Willow Av
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