Tennessee Apartment Buildings for Sale

167 properties available.
28 photos
Chattanooga, TN 37421


$2,350,00054,000 SF

Property is in Sweetwater and Madisonville Tn. 1 Site has 24 Town home units sitting on 3+- acres. 13 (2) bedroom units and 11 (1) bedroom units. The other location has 27 units and is made up of 8 duplex's and 3 quad buildings. There are 11 (2) bedrooms, 4 (3) bedrooms and 12 (1) bedrooms. These were build in 1980. Some tenants have been there since it was built. They stay 95-100% occupied and usually have a waiting list. These are all tenants that the rent is paid by the government under a THDA 20 year contract. Contract goes thru 10-27-32. Income is increased every year. Contract has recently been renewed for another 20 years. HUD used to audit the complex's every year but no longer does due to budget cuts. There is a laundry room and office on site at both locations. Crosscreek- 1 bed- 850sq ft 2 bed- 1000sq ft. Crestview 1 bed- 800 sq ft 2 bed- 900 sq ft 3 bed- 1125 sq ft. Maintenance is diff every depending on the weather and depending on inspections. Utilities goes up every yr, at least from the fee standpoint.

15 photos
Memphis, TN 38104


$440,0006,200 SF

To immediately view the detail property information for this property or ~20 other multifamily listings go to website Country French architecture from the 1920' s featuring hardwood floors. Property features keyed entry, covered parking, high ceilings, large closets, separate dining room, and much more! A new in-house laundry for residents use, professionally serviced by MacGray, and is a huge amenity for a property this size! Building stays full with good tenants.

16 photos
Memphis, TN 38116


$4,600,000140,260 SF

This is a rare opportunity in a fast moving market to acquire the newly renovated Graceland Farms Apartments at an above market cap rate. The property features laminate hardwood flooring to save on the costs associated with carpet, updated kitchens with new appliances, and all new HVAC 410A high seer units. This incredible location is near three schools, Elvis' home - Graceland, Memphis' largest logistics employment center, shopping, and the Interstate 55. The complete renovation offers new black appliances laminate hardwood floors, huge closets and living area, and onsite laundry facility. Kids can walk to three schools to there is no reason for the parents to move minimizing turnover cost! Offered to principals only.

12 photos
Memphis, TN 38105


$1,450,0002,440 SF

To immediately view the detail property information for this property or other multifamily listings go to This is an opportunity for a great apartment complex that requires little to no work with an upside on rents! Heritage Square has a free standing on-site sing office, laundry, maintenance room and mail pick up station. Heritage Square was formerly a 76-unit apartment complex. The owner has decided to renovate one side & double the rents so the property has been divided in half. Heritage Square now has 40 units that are 100% leased. The other half of the property now has a separate identity with asking rents of $950/unit for fully renovated 2-bedroom apartments! Heritage Square averages $547 so even though renovation is not a requirement there should be major upside on the rents in Heritage Square' s future. Given the division of the property, note that the books & records are prorated to illustrate operations including taxes and insurance.

18 photos
Antioch, TN 37013


$2,225,00030,387 SF

This is a portfolio of 22 single family homes all located within the Nashville Metropolitan Area. This is a well diversified portfolio with properties in Nashville, Madison and Antioch. Deal offered at 2,225,000 - Market Value if Sold Individually = [fill this in]. Current Gross Annual Rents at $240,816. Current Cap Rate at 7.14 with the potential to increase to [fill this in] within the next 24 months with a [fill this in] cash on cash return. Plus, a new Buyer will have the ability to sell select properties retail over the next 5 years, ballooning their Internal Rate of Return to close to [fill this in] with a 10 year hold.

6 photos
Murfreesboro, TN 37130


$1,500,00018,240 SF

Marcus & Millichap is pleased to offer the following garden-style apartments (student housing) located in Murfreesboro, Tennessee. The property is made-up of three brick buildings housing a total of 16 units and 48 beds. Each unit contains three bedrooms, three baths, walk-in closets, balconies and full sized appliances - including washer and dryer. The property is currently managed by the owner/developer with a non-dedicated staff. This multifamily investment property offers an excellent opportunity to break into a student housing market that has seen consistent growth in both student population as well as first year retention. The current occupancy is sightly below average and expenses are sightly above average due to lack of dedicated management and oversight. The tenant demographic consists mainly of students attending MTSU as it is just down the street from the campus, however Murfreesboro's growing population offers an additional pipeline of potential residents. By strategically increasing management oversight as well as proper vetting of tenants, an investor can expect to boost NOI to match the market.

24 photos
Millington, TN 38053


$2,725,00037,041 SF

Parcel 1 - 36 Fee Simple Townhomes AGE:7794 7796 Hickory Meadow built 1984 7786 7792 Hickory Meadow built 1986 7770 7784 Hickory Meadow built 1987 7751 7779 Biloxi CV built 1987 7750 7772 Biloxi CV built 1989 Exterior: Brick Veneer; - Roof: Architectural Shingles: ave age 1.5 yrs.; - HVAC: range 1 to 7 yrs. ave 4.5 yrs.; - Water Heater: range 1 to 8 yrs. ave 5 yrs. Appliances: Stove/Oven, Dishwasher, Vent hood, Disposal: range 1 to 10 yrs. ave 5 yrs.; - Carpet: range 1 to 4 yrs. ave 2 yrs.; - Washer/Dryer hookups Parcel 2 - 5 Fee Simple Townhomes AGE: 7778 Biloxi CV units #101, #102, #103, #104, #105 Built 1989 Exterior: Brick Veneer; - Roof: Architectural Shingles: age 1.5 yrs.; HVAC: range 1 to 7 yrs. ave 4.5 yrs.; - Water Heater: range 1 to 8 yrs. ave 5 yrs. Appliances: Stove/Oven, Dishwasher, Vent hood, Disposal: range 1 to 10 yrs. ave 5 yrs.; - Carpet: range 1 to 4 yrs. ave 2 yrs.; - Washer/Dryer hookups

9 photos
New Johnsonville, TN 37134


$895,00018,720 SF

Lakeside Manor Apartments is a 24 unit apartment complex in New Johnsonville west of Nashville, that as recently been remodeled (including appliances). The three buildings sit on 1.59 acres with plenty of room for future developement, but as is, Lakeside Manor can be a turn key investment property. Average rent for the 24 units is $458.00 per month making it affordable and attractive enough to keep a 100% occupancy rate. All three buildings are a combination of brick and vinyl with a paved parking lot, and all has been very well maintained. Lakeside Manor Apartments remains a great investment property in a location that is growing, and improving over the years.

28 photos
Madisonville, TN 37354


$699,00011,200 SF

Great income producing property, very well kept. All units have tenants with contracts. There is also an excellent manager in place.

11 photos
Chattanooga, TN 37411


$84,9001,620 SF

3710 Chula Vista Dr - Great Location in Brainerd with easy access to downtown and around town. Nestled in the trees with a quiet location, this property has quite a bit to offer including NEW CARPET. Two bedrooms, two full bathrooms, and laundry hookups in each unit will definitely be pleasing to tenants. This home also includes a small balcony . GMI $1249

Tennessee Apartment Buildings for Sale

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