Sherry Lane Apartments | 100 Sherry Ln
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Sherry Lane Apartments 100 Sherry Ln
8 Unit Apartment Building $1,275,000 ($159,375/Unit) 5.26% Cap Rate Dickson, TN 37055
Investment Highlights
- Located in the Nashville MSA
- Individually metered for Electricity
- Rents are currently $297 below market
- Water is on a single meter and is currently billed back to tenants
Executive Summary
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/169942/sherry-lane-apartments
Marcus & Millichap has been selected to exclusively market for sale this property in Dickson, TN. This offering will allow a potential investor to purchase a rare value-add opportunity Located in the Nashville MSA.
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 SHERRY LANE APARTMENTS.
Marcus & Millichap has been selected to exclusively market for sale this property in Dickson, TN. This offering will allow a potential investor to purchase a rare value-add opportunity Located in the Nashville MSA.
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 SHERRY LANE APARTMENTS.
Property Facts
| Price | $1,275,000 | Apartment Style | Low Rise |
| Price Per Unit | $159,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.50 AC |
| Cap Rate | 5.26% | Building Size | 6,848 SF |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,275,000 |
| Price Per Unit | $159,375 |
| Sale Type | Investment |
| Cap Rate | 5.26% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 2.50 AC |
| Building Size | 6,848 SF |
| No. Stories | 1 |
| Year Built | 1979 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Washer/Dryer Hookup
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $1,166 | 856 |
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PROPERTY TAXES
| Parcel Number | 111-083.05 | Improvements Assessment | $116,560 |
| Land Assessment | $68,440 | Total Assessment | $185,000 |
PROPERTY TAXES
Parcel Number
111-083.05
Land Assessment
$68,440
Improvements Assessment
$116,560
Total Assessment
$185,000
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Sherry Lane Apartments | 100 Sherry Ln
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