University Pointe Apartments
77-Bed Value-Add Multifamily with One Commercial Space | Adjacent to MTSU
Marketing description
Link to Deal Room and Financials: https://www.marcusmillichap.com/properties/204071/university-pointe-apartments
Marcus & Millichap has been selected to exclusively market for sale the University Pointe Apartments in Murfreesboro, TN. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Middle Tennessee.
University Pointe Apartments is a 77‑bed multifamily property with one ground‑floor commercial space, located adjacent to Middle Tennessee State University in Murfreesboro, Tennessee. The asset was constructed in 2002 and consists of three buildings situated on a 1.6‑acre site. Unit configurations include three‑bedroom layouts designed for by‑the‑bed leasing, with the current tenant mix consisting of approximately 25% students. Ownership has invested $112,084 in capital improvements over the past 36 months, including the full replacement of central HVAC systems and stair improvements on one building. The property features individual electric metering, slab construction, on‑site laundry facilities, and standard appliance packages, offering a stable multifamily investment with proximity to a major university.
Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing.
At no point should tenants or staff be contacted regarding the sale of the University Pointe Apartments.
Investment highlights
- 77-Bed multifamily community with student housing conversion potential
- Located adjacent to Middle Tennessee State University at 1238 Sloan Street
- Currently, 25% student tenant mix, offering clear upside through targeted student housing leasing
- Three‑bedroom units are leased dorm‑style by the bedroom, ideal for student demand
- One ground-level unit is currently used as a commercial space, offering flexibility
- 2 Units are currently being served as an office and a guest room
- Rent includes water, sewer, trash, cable, Wifi, and furnishings
- Furnishings include a mini fridge, microwave, bed, dresser, nightstand, TV, and desk
- $112,084 spent on capital improvements over the past 36 months, including the replacement of all central HVAC systems and stair replacement on one building
- Individually metered for electricity
- Copper wiring and PEX/copper piping throughout all buildings. Buildings are constructed on a slab foundation
- On‑site laundry facilities provide an additional income stream
- White appliance package in all units, including refrigerator and stove
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
