Multifamily Property for Sale in Clarksville, TN

  • Price: $600K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Clarksville, TN 37043
  • Size: 4,368 SF
  • Year built: 1989

Description

Turnkey 5-unit brick townhome in Clarksville's Knollwood Hills subdivision. 4,368 SF, 2-story, built 1989, zoned R-4 Multi-Family. 100% occupied — all 5 units at market rents ($825–$900/mo, avg $860/unit, $4,300/mo GPR). Fresh mechanicals: HVAC replaced Nov 2025, water heater May 2025. Total 2025 capex: $13,171 fully seller-absorbed. Stabilized NOI: $33,410 | Cap Rate: 5.57% @ $599,900 | DSCR: 1.98× | Cash flow: $16,562/yr after debt service. Professional management through PMI Clarksville (7% fee). Flood Zone X (minimal risk). Fiber internet available. Near Fort Campbell, APSU & downtown Clarksville. Motivated absentee seller (Nomad Clarksville LLC, Parker CO) — $278K remaining mortgage at Tristar Bank. Property is fully stabilized after heavy 2025 capex ($13,171 one-time) and 4-unit turnover cycle. 2025 P&L shows inflated expense ratio (64.4%) due to HVAC replacement ($6,750), water heater ($1,464), appliances, plumbing, and turnover repairs — not recurring. Normalize expenses to $16,210/yr (32.7%) for accurate underwriting. Rent roll: Unit A $875, B $850, C $900, D $850, E $825. Unit B lease expires 04/30/2026; Unit E is month-to-month — renewal opportunities at $875+. Anchor comp: 1521 W Knollwood Cir (0.06 mi, same subdivision) sold May 2025 at 6.4% cap per CoStar. 9 comps (4–6 units, 2023–2026) median $141/SF — supports $615K comp value. Listing at $599,900 is below comp-derived value. 24-hour showing notice required; coordinate through listing agent. Do not disturb tenants. Building SF: 4368 | Land Size: 0.55 Ac | Year Built: 1989 | Listing Type: FOR SALE

Market Context

This multifamily in Clarksville, TN is listed for sale at $599,900 across 4,368 SF. It is offered at an approximate 5.6% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1989. It has been on the market for 24 days. Compare it against other multifamily listings for sale in Clarksville, TN — <a href="/search/sale/multifamily/tennessee/clarksville">view the full market</a>.

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