Current Use by Public Records
- Residential income homes
Property Details for 1206 Parker St
- Year built
- 1997
- Lot size
- 0.53 lot acres
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional investment opportunity presents a 4-unit multifamily property located at 1206 Parker St, Columbia, TN 38401. The property, built in 1997 and renovated in 2021, comprises four individual buildings situated on a 0.53-acre lot. Each unit boasts 2+ bedrooms and 1 bathroom, totaling 3,000 square feet. Currently operating at 25% occupancy, this Class D property offers significant value-add potential. With a pro-forma NOI of $44,000 and a pro-forma cap rate of 9.80%, this presents a strong return on investment. Previously renting for $1,000 per month, there's substantial upside potential for rental income increases. The asking price is $449,000, translating to $112,250 per unit and $149.67 per square foot. This property is ideal for investors seeking immediate equity and the opportunity to increase rental income through renovations and increased occupancy. The property's location in the heart of Columbia, TN, provides access to a growing market. This is a rare chance to acquire a multifamily portfolio with significant upside potential in a thriving Tennessee city.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Columbia
- County
- Maury
- State
- Tennessee
- Longitude
- -87.0398
- Latitude
- 35.6084
