Albert Drake.

Investment Agent

Featured Listings

  • When it comes to finding multifamily in Manchester, TN it doesn't get much better than this. Hayfield Properties is a group of 32 duplexes and 10 quadplexes conveniently located in Manchester Tennessee. There are 104 total units built between 1974 and 1991. The unit mix includes everything from 1/1 units all the way to 3/2 units, helping to maintain a stable rent roll.

    Key Property Details:

    • Location: Manchester, TN
    • Built: 1975-1991
    • Unit Mix:
      20 - 1/1 units
      48 - 2/1 units
      6 - 2/2 units
      24 - 3/1 units 6 - 3/2 units
    • Construction: Mostly Brick exterior with Composite Shingle Roof
    • Utilities: Individual water and electricity metering
    • Central Heat and Air in All units
    • On site laundry Facility

    Investment Highlights:

    PRIME LOCATION - There are 3 cities within an hour’s drive. Murfreesboro is just 33 miles, Nashville is 54 miles and Chattanooga is only 70 miles south-east on I-24. This central location makes Manchester a great spot for developers and investors.

    IMPRESSIVE DEMOGRAPHICS - According to the Tennessee Department of Commerce there are 6 higher education institutions, almost 30K auto manufacturing jobs and over 22k advanced manufacturing jobs all within a 45 minute drive of this location.

    VALUE ADD OPPORTUNITY - Currently these rents are averaging around $715/month on 88% occupancy. Market rates indicate a potential for an additional rent increase with minimal capital expenditures. The current owner has done a good job maintaining the property, however Manchester is a growing community and with the proximity to the freeway and a steady demand on housing, renovating the units creates an excellent value add opportunity.

    INDIVIDUALLY PARCELED -  Some investors could certainly take all 104 units and continue to operate the property as is. However many of the duplexes and quadplexes already sit on their own individual parcel giving investors the ability to purchase a smaller package, or buy the whole lot and sell them off individually. LOCATED NEAR APPROVED I-24 INDUSTRIAL SITE  - A 2,000 acre industrial development is underway just minutes from these properties. This new development has the potential to create 1000s of new jobs and bring in more major companies to the area. Check out the plans here. Disclaimer: This offering is available to qualified investors. Due diligence is advised, and all interested parties should consult with their financial advisors before making investment decisions.
  • Olde Town Flats

    $850,000
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    Welcome to Olde Town Flats, a historic gem nestled in the heart of Chattanooga, Tennessee. This 1920-built property offers a unique and lucrative investment opportunity for savvy investors seeking value-add potential. There has already been a substatial amount of capital investment in the property making 4 of the units turn key and rent ready. The remaining units present an exiting opportunity for you to add value and maximize your investment over time. Property Overview:
    • Unit Composition: 9 units in total
      • 7 one-bedroom units
      • 1 two-bedroom unit
      • 1 studio unit
    • Recent Updates: 4 units meticulously renovated, including 2 taken down to the studs.
    • HVAC Systems: 4 mini-split systems in place, ensuring efficient and individualized climate control for each unit.
    • Utilities: Separate electric meters for each unit, enhancing tenant responsibility and reducing owner expenses.
    • Water Management: Master water paid by the seller with a RUBS (Ratio Utility Billing System) in place for most tenants, optimizing cost distribution.
    • Technological Advantage: EPB fiber optic internet systems installed, providing tenants with high-speed connectivity and adding an attractive feature for modern living.
    Structural Enhancements:
    • Windows: Partial replacement of windows, enhancing energy efficiency and aesthetic appeal.
    • Electrical Upgrades: New electrical system throughout the property, ensuring safety and compliance with modern standards.
    • Plumbing: Extensive plumbing updates, including replacement of the main drain, minimizing maintenance concerns.
    Convenience Features:
    • Laundry Facility: A dedicated laundry facility located in the basement equipped with new coin-operated appliances, adding convenience for residents and an additional income stream for investors.
    Chattanooga's Olde Town Flats presents an exciting investment opportunity with substantial upside potential. The strategic updates and modern amenities make this property an attractive choice for investors looking to maximize returns through value-add initiatives.  Don't miss the chance to be a part of the flourishing Chattanooga real estate market. Contact us today to schedule a viewing and explore the vast potential that Olde Town Flats holds for your investment portfolio. This is your gateway to a promising future in multifamily real estate!
  • North Moore

    $299,000
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    Discover a promising 5-unit value add property conveniently situated minutes from the heart of Chattanooga, TN. Constructed in 1940, this 1.5-story building spans 2154 sq ft and has been converted from a triplex into a 5-plex with separate electric meters and master water & gas meters. The units have a mix of central and window air units. With two updated units demonstrating the proof of concept, the property is ready for the right investor to finish the work and maximize their returns. Unlock this property's potential by capitalizing on prudent updates, competitive rental rates in a desirable area of Chattanooga. Act now to explore this valuable investment.
  • 117 Lonsvale Dr

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    615-857-6390

    • 2 units - 1bed/1bath each - approximately 650sf - 1976 build • Separate electric meter - tenant paid • Master water meter - owner paid • $1200 gross income/month (Avg. $600/unit) • Self-managed • Year leases • 1 renovated unit including flooring, carpet, paint, new appliances • Proforma rents @ $700
  • 105 Oriole Dr

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    615-857-6390

      • 8 units - 2bed/2bath each- approximately 833sf - 1995 build • Separate electric and water meters - tenant paid • Roof - replaced approx. in 2010 • All tenants are on a month-to-month lease • $2,875 total monthly income (Avg. $479/unit) • Self-managed • Basic update on move-out. Appliances replaced as necessary • Proforma rents @ $850
  • McMinnville Quadplex

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    (615) 802-5389

    Off-Market Sale located on Whites St, McMinnville, TN!
    • Quadplex
    • 2bed
    • 1bath
    • Built in 1976
  • 1007 Lischey Ave

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    615-857-6390

    • 3 bd
    • 2 ba
    Sitting just 5 minutes from Five Points, East Nashville, and a short drive to Downtown, this property is queued for an investor to offer prime location for anyone looking to be in the heart of Nashville! This property is already zoned for an ADU - with new constructions just across the alley and plenty of space to accommodate. Come enjoy this house full of character and next to a famed barbershop!
  • Cascade Portfolio

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    (615) 802-5389

      In a pocket of McMinnville that has an excellent rental market, this portfolio of 38 units is great for a long-term investor who is looking for a true value-add acquisition. 30 units are 2 beds/1 baths, 7 units are 2 bed/2 baths, with an additional 1 bed/1bath office conversion available. 4 burned units can be rebuilt to add the total unit count to 42. Rents have an opportunity to be pushed with a strategic investment of exterior CapEx, aggressive property management, and some interior cosmetic updating. W/D hookups in each unit and positioned for possible agency financing upon stabilization!
  • 1203 Cline Duplex

    $450,000
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    615-857-6390

    Agent Email

    albert@ria-inc.com

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    Located in the very convenient Greenwood neighborhood of Nashville, Tennessee. Cline Ave is located just blocks away from the growing 5 Points area and 10 minutes from Nissan Stadium- showing signs for the long-term investor. This duplex was built in 1950.

    Investment Highlights

    Location, Location, Location - This property is minutes from downtown in the booming East Nashville Neighborhood. The community has seen a recent influx of high end homes making this property a prime candidate for new development. Value Add Opportunity - This property could use some TLC from its new owner which will allow you to bring in more per month in rent. The neighborhood supports rent increases, however the property will require some capital expenditures to do so. Owner Occupant - Those new to multifamily investing may want to start with an owner occupant scenario which this property supports.