Matthews Logo

Navigation Menu

602 40th Ave N, Nashville, TN, 37209

THE RILEY APARTMENTS
yes

Photos

Highlights

INVESTMENT HIGHLIGHTS

  • Comprehensive renovation to the studs, effectively delivering a newly constructed interior within the original brick exterior envelope
  • Upgrades include new plumbing, HVAC systems, electrical wiring, water heaters, lighting, flooring, fixtures, appliances, cabinetry, and countertops
  • Turnkey asset with stabilized occupancy, offering immediate in-place income
  • In-unit washer and dryer equipment provided in all units, enhancing tenant convenience and appeal
  • Modern open-concept floor plans that support contemporary living preferences
  • Individually metered for water and electricity, minimizing owner utility exposure
  • Strategic location less than four miles from Downtown Nashville, offering strong connectivity to employment, entertainment, and cultural amenities

Location

Agents

Broker of Record

Hutt Cooke

License # 263667 (TN)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203

Key Information

Cap Rate
6.28%
GRM
10
$ per SF
$245
Tot. SF
5,600
$ per unit
$171,875
Units
8
Year Built
1961/ R 2021
Type
Apartments
NOI
$86,342