Sun Valley Apartments
8.14 Cap | Value-Add 12 Unit Complex | Minutes from Downtown and University
Marketing description
Valley Apartments is a well-maintained 12-unit multifamily community located in the growing Cookeville, Tennessee market. Positioned on a full one-acre parcel, the property consists entirely of spacious 2-bedroom, 1-bath units totaling 6,290 square feet. Each unit is equipped with in-unit laundry—either all-in-one or stackable setups—and the property is supported by ample front and rear parking. Currently 100% occupied, Sun Valley generates consistent operational performance with consistent lease-up opportunities.
Originally constructed in 1973, the property has received meaningful updates in recent years, including five full interior renovations, upgraded kitchen cabinetry in additional units, and fresh exterior paint. Major systems have also been addressed, with all HVAC units replaced within the last three years and a durable metal roof installed less than ten years ago. These improvements provide both stability and reduced near-term capital exposure for new ownership. The asset is separately metered for electricity with tenant-paid usage, while water is master-metered and reimbursed at $25 per unit per month.
With continued interior upgrades and potential refinements to utility reimbursement, investors have opportunities to further enhance NOI. Sun Valley Apartments is strategically located just minutes from Downtown Cookeville and Tennessee Tech University—an area experiencing steady population growth, a strong renter base, and increasing investor interest across the region.
Investment highlights
Stabilized 12-Unit Asset – Currently 92% occupied with an all–2 bed / 1 bath unit mix, providing immediate operational stability. Final unit is currently being renovated.
Recent Renovations & Strong Condition - Five fully renovated units, updated kitchen cabinetry in additional units, and fresh exterior paint reduce near term capital needs.
Modern Building Systems - All HVAC units are less than three years old, and the metal roof is under ten years old—minimizing future mechanical exposure.
In-Unit Laundry Across All Units - Highly desirable feature in the Cookeville rental market, supporting stronger demand and tenant retention.
Efficient Utility Structure - Tenant-paid electric with a master-metered water system and $25/mo per-unit reimbursement; septic maintained annually.
Value-Add Upside - Opportunity to continue interior renovations to achieve higher market rents and further strengthen overall performance. Exteriors opportunities to add curb appeal with little equity injection
Ample Parking & 1-Acre Parcel - Front and rear parking options enhance tenant convenience and support long-term functionality of the asset.
Proximity to Major Demand Drivers - Located minutes from Downtown Cookeville and Tennessee Tech University, ensuring steady renter demand from students, staff, and local workforce.
Growing Secondary Market - Cookeville continues to experience population growth, affordable living costs, and expanding economic activity—supporting long-term multifamily investment fundamentals.
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