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    2299 Raleigh Ct Clarksville, TN 37043

    For Sale
    $1,700,000

    Seven-unit, high-return apartment building in Clarksville, TN

    Property size:
    8,896 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional Class A, 8,896 sq ft apartment building presents a rare investment opportunity in the thriving Clarksville, TN market. Built in 2022, this one-building, two-story complex boasts seven units, each with dedicated parking and ample guest parking. Six units offer two bedrooms and two-and-a-half bathrooms, while one premium unit features three bedrooms and three bathrooms. Currently operating at 100% occupancy, the property generates a substantial NOI of $120,000, representing a 7.06% cap rate. The asking price is $1,700,000, or $191.10 per square foot and $242,857.14 per unit. Six units are currently used as long-term rentals, with one successfully operating as a short-term rental, demonstrating the property's versatility and income potential. High-end finishes throughout each unit ensure strong rental demand in a competitive market. Located at 2299 Raleigh Ct, Clarksville, TN 37043, this turnkey investment offers a compelling opportunity to capitalize on Clarksville's robust growth and consistently high rankings as a desirable place to live. There is no HOA. This property is a stabilized investment with an excellent rental history.

    Property Features for 2299 Raleigh Ct

    General Information

    Property type
    Multifamily properties
    Square Feet
    8,896 SF
    Class
    A

    Building Details

    Year Built
    2022
    Buildings
    1
    Stories
    2
    Units
    7

    HighLights

    • $1,700,000 asking price for this stabilized Class A multifamily investment.
    • Seven‑unit apartment building (townhouses) totaling 8,896 square feet.
    • $191.10 price per square foot, with a 7.06% cap rate and $120,000 net operating income (NOI).
    • 100% occupancy with six two‑bedroom, two‑and‑a‑half‑bathroom units and one three‑bedroom, three‑bathroom unit.
    • Built in 2022, this one‑building, two‑story property features dedicated parking per unit and ample guest parking.
    • Located at 2299 Raleigh Ct, Clarksville, TN 37043.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Gym & Fitness Kitchen & Bath Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Clarksville
    County
    Montgomery
    State
    Tennessee
    Longitude
    -87.296435
    Latitude
    36.573414

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    FAQs

    What type of property is this?
    Multifamily property - Seven-unit, high-return apartment building in Clarksville, TN
    Where is this multifamily property located?
    The property is located at 2299 Raleigh Ct Clarksville, TN.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: $1,700,000 asking price for this stabilized Class A multifamily investment.; Seven-unit apartment building (townhouses) totaling 8,896 square feet.; $191.10 price per square foot, with a 7.06% cap rate and $120,000 net operating income (NOI).
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    Clarksville, TN 37043
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2299 Raleigh Ct Clarksville, TN 37043
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