Sold Alerts provide potential sellers with hard-to-get comparable sale information.
Go behind the scenes with this undisclosed, off-the-record transaction that may affect the value of your commercial property:
- 790 Green Wave Drive in Gallatin, TN is better known as Green Wood Apartments.
- This complex of 20 two-story buildings on 16 acres was built in 1994.
- Interestingly, all 164 units are 3 bedrooms, 2 bathrooms with 1,100 SF.
- 1.22 parking spaces per unit.
- These apartments are considered “affordable” which means families must make less than the income limits which range from $45,540 for a family of 3 to $58,680 for a family of 6.
- Two stories, washer/dryer hook ups, pool, pet friendly.
- Located next to Gallatin High School. Rents are $1,460 per month.
- The buyer put 30% down with financing from PGIM at 6.79%.
- The property just sold for $25,048,000…the equivalent of $152,733/unit.
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About Beau Beach, MBA CCIM
Beau is a battle-tested Commercial Real Estate Broker, entrepreneur, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Beachwood which is an elite commercial real estate brokerage for sellers in the Southeast.
He’s earned the revered “CCIM” designation which is awarded to the top 6% of all commercial real estate brokers.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Click to schedule a call with Beau or email to Beau@BeachwoodSells.com