1. Tennessee
  2. Cookeville
  3. 492 W 9th St
$1,925,000

492 W 9th St, Cookeville, TN 38501

  • 14,040 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1991
  • Property Lot Size Icon —— sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $137/sqft
  • Property List Date Icon Listed 14 days ago

Property Description

Cookeville, TN | 14,040 SF | 1.8 Acres | Zoned RM-8 | Opportunity Zone Great Investment Opportunity – 15 Townhome-Style Units Located less than 1 mile from Tennessee Tech University, this well-positioned multifamily asset features 15 spacious townhome-style units spread across three buildings totaling 14,040 square feet on a 1.8-acre lot. Built in 1991, each unit offers 2 bedrooms, 1.5 bathrooms, and multi-level living, making it highly attractive to both long-term tenants and student renters. Property Highlights: Stable in-place cash flow with average rents of $950/month per unit Strong occupancy driven by proximity to Tennessee Tech University Recent capital improvements: 11 new HVAC systems installed within the last 3 years 30-year architectural roofs installed in 2017 Zoned RM-8, allowing for residential density flexibility Located in a federally designated Opportunity Zone — favorable for long-term investors seeking tax advantages Value-Add Potential: Implement RUBS utility billing for water/sewer to improve NOI Interior renovations and strategic rent increases offer significant upside Potential to modernize units and common areas for increased appeal

Listing Status:
Active
Listing Office:
Martin Real Estate, LLC : 6157965388
Listing Agent:
Ethan Dolan : 6158786566
MLS ID:
2925420
  • Flooring: CarpetWood
  • A/C: Ceiling Fan(s)Central Air
  • Heating: Central

This listing courtesy of Ethan Dolan, Martin Real Estate, LLC

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

S

Sycamore Elementary School

452 Ellis Ave, Cookeville, TN, 38501

Grades PK-4

0.92 miles away

A

Avery Trace Middle School

230 Raider Dr, Cookeville, TN, 38501

Grades 5-8

2.13 miles away

C

Cookeville High School

1 Cavalier Dr, Cookeville, TN, 38501

Grades 9-12

2.11 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.