Overview

Description

Matthews Real Estate is pleased to present this offering of the Forty West Apartments, located in the booming Charlotte Park submarket of Nashville, TN. Situated in Davidson County, this property is just 5.0 miles west of Downtown Nashville. The Charlotte Park area of Nashville can be viewed as one of the most transformative areas of Nashville, TN - absolutely exploding with development and increased investment activity. With fantastic access to I-40 & Charlotte Avenue shooting into Downtown Nashville, The Forty West Apartments are well-positioned to capture young professionals & downtown commuters searching for affordable living arrangements in Nashville.

The Forty West Apartments have recently gone through a substantial renovation with the current ownership, drastically improving the interior, exterior, and aesthetic of the apartment complex. Current ownership runs a separate business as their main source of income. These smaller apartment communities prohibit them from focusing on their main book of business, which has forced them to want to simplify their investment strategy.

There is an opportunity for a new operator to purchase this improved, bite-size complex in a highly desired & rented submarket of Nashville along with continuing to improve the efficiency of operations. The demand for renters of this product line is endless, especially in a market like Nashville, who is ranked the #1 Investment Target Market in the U.S. three years in a row (2021, 2022, 2023, via Urban Land Institute).

Highlights

• $75 worth of upside across the board
• The average household income in a 1.0 mile radius is $96,110
• Only 5.0 miles from Downtown Nashville
• Income-tax Free State: in a Top 5 performing Multifamily Market

Documents

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