The Bel-Aire Apartments present a compelling investment opportunity in the Clarksville, TN multi-family real estate market. With 16 well-maintained 2-bedroom/1-bathroom units, this property, built in 2004, boasts modern design and construction, ensuring lower maintenance costs. Each unit spans a comfortable 780 sqft, and the current average rent of $740 per unit offers immediate positive cash flow.
Ability to Raise Rents – The potential for increased revenue is evident through rent comps ranging from $850 to $900, presenting a lucrative opportunity for value-add investors. The strategic owner-initiated renovations have enhanced the property’s appeal, attracting long-term tenants who have seen gradual rent increases. Notably, tenants are responsible for water and electric expenses, alleviating the burden on the property owner.
Seller Open to Owner Financing – The seller’s openness to owner financing further sweetens the deal, allowing for flexible financing options. Overall, the Bel-Aire Apartments stand out as a wise investment with a strong income potential, a history of responsible ownership, and opportunities for future growth.