Discover A Stable Quadplex Investment in McMinnville, TN
This well-maintained 4-unit multifamily property presents a compelling opportunity to acquire a stabilized asset with clear value-add potential in the growing McMinnville market. Situated in a quiet, established neighborhood, the property combines durable recent capital improvements with strong unit fundamentals, making it an attractive option for investors seeking both immediate cash flow and long-term upside in Middle Tennessee.
The quadplex consists of four spacious 2-bedroom, 1-bath units, each offering approximately 870 square feet with in-unit washer/dryer hookups and separate electric metering. Recent upgrades—including new windows installed in 2023 and a metal roof approximately seven years old—reduce near-term capital exposure, while select interior updates provide a foundation for continued rent growth through light managerial improvements.
Currently 100% occupied, the property benefits from a mix of long-term and month-to-month tenants, offering both stable in-place income and near-term flexibility. With in-place rents below market and proforma comps supporting approximately $1,100 per unit, investors can achieve a projected 10% cap rate at a $41,400 NOI through rental optimization and expense reimbursements. Additional features such as a large corner parking lot, slab foundation, split HVAC systems, and no flood zone further enhance the asset’s long-term appeal.
Investment Highlights:
Four Income-Producing Units: All units are 2 bed / 1 bath with approximately 870 SF and in-unit washer/dryer hookups.
100% Occupied with Upside: Two units leased at $900/month and two units at $700/month, all below market with near-term rent growth potential.
Utility Reimbursement Structure: Separate electric meters; tenants reimburse $130/unit/month for electricity and $40/unit/month toward water expenses.
Recent Capital Improvements: New windows (2023), metal roof (~7 years old), slab foundation, and split HVAC systems.
Light Value-Add Opportunity: Self-managed property with upside through rent optimization and operational efficiencies.
Strong Proforma Performance: Market comps support $1,100/unit rents and a projected 10% cap rate at $41.4K NOI.
Favorable Physical Attributes: Large corner parking lot, no flood zone, and durable construction.
