Multifamily Investment Opportunity
Price
$8,600,000
📢 🔥 OFF-MARKET MULTIFAMILY OPPORTUNITY – NASHVILLE, TN 🔥 📢
🏢 74-Unit B-Class Multifamily | $8.6M 💰
📍 Pike Place Apartments
📍 1274 Murfreesboro Pike, Nashville, TN 37217 – 32 Units (Built in 1967)
📍 Aerospace Flats
📍 451 Aerospace Way, Nashville, TN 37217 – 42 Units (Built in 1967)
💡 Investment Highlights:
✅ 74 Total Units – (32 One-Bedroom / 42 Studio Apartments)
✅ Pike Place Apartments & Aerospace Flats – Built in 1967 🏢
✅ Studios are a Converted Motel – Can be operated as a motel or traditional multifamily
✅ Current NOI: $792,139 📈
✅ Cap Rate: 6.5%
✅ Rents Currently $144 Below Market – Strong value-add potential
✅ Individually Metered for Water & Electric
✅ Prime Nashville Location – 8.4 miles (12 minutes) from Downtown 🚗💨
✅ Excellent Connectivity – Public transit & major roadways make commuting a breeze 🚋 🛣️
🔨 Capital Improvements – Aerospace Flats 🔨
✔️ $300,000± in capital improvements in the last 36 months
✔️ Exterior Upgrades – New paint, reinforced/renewed steel railings & stairs
✔️ 20 Renovated Units – New floors, cabinetry, paint, and bathrooms
✔️ Window Units for AC – Most units include microwaves, TVs, and ovens or oven hookups
✔️ On-Site Laundry Room
✔️ Combination of Weekly & Monthly Rentals
💡 Affordable Housing Opportunity – Section 8 Transition
📈 Studio rents in Section 8: $1,404📈 One-bedroom rents in Section 8: $1,442
🔥 Asking Price: $8,600,000 (Includes acquisition & consulting fees)
📩 Serious investors, submit all offers directly to:📧 investments@promiselandrealtyllc.com
🌟 Why Invest in Nashville? 🌟
Nashville is one of the fastest-growing real estate markets in the U.S., making it a prime location for multifamily investors.
Here’s why:
✅ Explosive Population Growth – The metro area grew by 20% over the past decade and is expected to continue expanding rapidly 📈
✅ Top-Tier Job Market – Home to Amazon, Oracle, Nissan, and Vanderbilt University, driving strong rental demand 💼
✅ No State Income Tax – Tennessee’s business-friendly environment means higher net returns for investors 💰
✅ Booming Tourism & Hospitality Industry – Over 15 million annual visitors, fueling short-term and long-term rental demand 🏨🎸
✅ Affordable Compared to Other Major Cities – Strong rent growth with room for appreciation makes it an ideal value-add market 🎯
✅ High Rental Demand – Rising home prices are pushing more people toward renting, ensuring long-term occupancy stability 🏡
🔥 Nashville is a prime market for multifamily, Section 8 housing, and value-add
opportunities! Don't miss this chance to acquire cash-flowing assets in one of the hottest cities in America!
🚨 TEAM PROMISELAND DISCLAIMER 🚨
⚠️ Unauthorized marketing of this listing is strictly prohibited. Only authorized TEAM PROMISELAND affiliates may promote this property. Violators will be fined $500 per instance.
📩 For serious inquiries, contact:
#MultifamilyInvestment #OffMarketDeal #NashvilleRealEstate #TeamPromiseland #CashFlow #ValueAdd #RealEstateInvesting #PassiveIncome
Property Map
"AMERICA'S #1 SOURCE FOR OFF MARKET PROPERTIES"
PROMISE LAND REALTY, LLC
Work: (248) 416-2574
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top
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