Gomberg Report >
Tennessee

Updated 7/25/2012
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Memphis | Chattanooga, Knoxville, Nashville | Tri-City - Bristol, Kingsport, Johnson City |

Memphis Metropolitan area
Click here to view: Memphis area map
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
Memphis
356 unit
13.5M
85% Financing Available
NOI=1M
37,921
Property features spacious grounds (22.5 acres) and landscaping, large walk-in closets, private patios,fitness center, clubhouse, fireplaces, stocked lake witha beautiful fountain setting the stage for a luxurious property with a swimming pool, and on-site laundry facility.
Steve Woodyard 901-842-5320
Munford
76 unit
5.275M
85% Financing Available
711,245
7.41
69,407
Class A luxury apartment community located approximately 25 miles north of Memphis. Property is professionally managed but only seems to require an on-site manager and helper. This property is only five years old. The apartment homes feature central heat and air, balcony, dishwasher, microwave, oversized closets, and washer & dryer connections. Fire sprinkler system in each room of apartment.
Steve Woodyard 901-842-5320
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Chattanooga, Knoxville and Nashville Metropolitan areas
Click here to view: Chattanooga area map | Knoxville area map | Nashville area map
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
Chattanooga
60 unit
2.7M
85% Financing Available
NOI=216K
45,000
The asset offers high-quality construction, low maintenance materials and energy efficiency upgrades. Constructed in 2006, complex offers investors a low maintenance, highly desirable one-story community constructed of brick exteriors on slab with pitched asphalt shingle roofs.  98% occupancy.
Marcus Lyons 423-304-0075
83 unit
2.7M
85% Financing Available
NOI=216K
32,530
Constructed in 1971, Silver Creek Apartments is just North of Downtown. The townhome units average 930 sq. ft. The community offers four diverse townhome floor plans consisting of 24 one bedroom / one-bath units (750 sq ft), 22 two bedroom / one-bath units (900 sq ft), 28 two bedroom / one & half-bath units, 8 three bedroom / two-bath units, and 1 four bedroom /two bath unit (previously 2 separate two bedroom / one bath units). The two-story buildings are comprised of wood frame and rock & vinyl siding . The roofs are pitched metal & asphalt shingle. The roofs were replaced in December, 2009. The gutters were replaced in 2008. 45% of the units have been completely renovated. 90%+ occupancy.
Marcus Lyons 423-304-0075
Cleveland
67 unit
1.925M
85% Financing Available
NOI=202K
28,731
1973 Apartment complex situated on 3 acres. 98% occupancy.
Jaime Harper 423-716-3105
Knoxville
172 unit
4.52M
85% Financing Available
NOI=355K
26,279
These properties consists of 170 1BR/1BA and 2 3BR/2.5BA townhouses. Generous parking, 2 updated clubhouses, 2 pools, 2 laundry areas, tennis court and manitenance building. Lots of green space. Central HVAC in each unit. Paved parking. Newer roofs. All brick.
Gloria Gregory 865-297-3290
Maryville
88 unit
4.275M
85% Financing Available
505,946
8.44
48,579
Apartments include 11 2-story buildings situated on 4 parcels of land. The four parcels are on 3 different streets that basically form a block. Two of the buildings were built in 1992, two in 1994, and seven in 1996. Each building contains six 2 BR, 1 BA apartments and two 3 BR, 1 BA apartments. The units open to the interior of the building into a common hallway. Parking is on a paved surface with painted spaces. Coin laundry in each building. Playground on the property.
Gloria Gregory 865-297-3290
64 unit
3.5M
85% Financing Available
54,687
64 unit apartment complex situated on 6.33 acres.
John Ayers 615-309-7100
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Tri City - Bristol, Kingsport and Johnson City areas
Click here to view: Tri City area map
Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
Contact Broker
Johnson City
53 unit
2.35M
85% Financing Available
44,339
Apartment complex on 6.84 acres with 31 1BR, 18 2BR and 4 studios. Additional land approved for 43 more units included. Walking path to ETSU. Minutes from Med Center and VA. Laundry with 5 washers and dryers.
Stan Evans 423-773-5312
Kingsport
88 unit
5.872M
85% Financing Available
NOI=540K
66,731
88 Unit 2/3 Bedroom Upscale Apartments with brick exteriors sunlit rooms, decks, french doors, bay windows, modern appliances, extremely clean with pool and nice curb appeal. Close to Restaurants and Shopping and minutes off I26 yet elevated in a quiet setting with beautiful mountain views. 
Bunny Carter 423-737-0911
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