2516 Pitts Ct Columbia, TN 38401-4351
Property profile & analytics
2516 Pitts Ct Columbia, TN 38401-4351
- Residential income homes
- 7,552 SF
- 9.74 lot acres
Property ID
US80-0851500
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- The Ashley / Apartment Complex
- Southern Service / Apartment Building
Property Details for 2516 Pitts Ct
- Year built
- 1980
- Lot size
- 9.74 lot acres
- Property size
- 7,552 SF
- Zone code
- GCS
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 060113E B 01700
- APU
- 060113EB01700
Description
This exceptional 97-unit apartment community in Columbia, Tennessee presents a compelling investment opportunity. The property, built in 1980, comprises a desirable mix of three and four-bedroom townhomes, a unique offering in the Columbia market. Currently boasting 94.8% occupancy, this asset offers significant upside potential due to rents that are demonstrably 15% below market rates. Immediate revenue increases are achievable by adjusting rents to market levels. Extensive interior and exterior renovations have been completed, minimizing deferred maintenance and ensuring the property's modern appeal. The property's prime location, just 2.4 miles from downtown Columbia, provides residents with easy access to major employers and retail centers. Further enhancing its appeal is a highly favorable 35-year, fully amortizing HUD loan with a fixed interest rate of 3.05%, offering long-term financial stability and predictable cash flow. The combination of below-market rents, a strong unit mix, recent capital improvements, and an attractive financing structure makes this a rare opportunity for investors seeking substantial returns in a thriving Tennessee market. The property's operational efficiency and potential for market rate increases further solidify its position as a premier investment.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Columbia
- County
- Maury
- State
- Tennessee
- Longitude
- -87.0457
- Latitude
- 35.587
- CBSA code
- 34980
- CBSA name
- NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$46,448
$151,960
$1,546,240
$1,698,200
-
$379,900
$3,865,600
$4,245,500
