Multifamily Property for Sale in Murfreesboro, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Murfreesboro, TN 37130

Description

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 adjacent to Middle Tennessee State University (MTSU) with student housing conversion potential • Three-bedroom units are leased dorm-style by the bedroom, ideal for student demand, and one ground-level unit is currently used as a commercial space, offering flexibility • $112,084 spent on capital improvements over the past 36 months, including the replacement of

Market Context

This multifamily in Murfreesboro, TN is listed for sale. It is offered at an approximate 6.7% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Murfreesboro, TN — <a href="/search/sale/multifamily/tennessee/murfreesboro">view the full market</a>.

As of Q1 2026, the Nashville multifamily market showed a 17.4% vacancy rate, and cap rates around 6.0%. Source: Consensus Q1 2026 market report.

Its 6.7% asking cap rate is above the Nashville multifamily market average of about 6.0%, implying a higher yield (and typically more risk or upside) than comparable assets. Above-average vacancy gives buyers leverage and a wide set of comparables.

Multifamily market FAQ

What is the typical cap rate for multifamily in Nashville?
About 6.0% as of Q1 2026, per Consensus.
Is the Nashville multifamily market tightening or softening?
Vacancy is around 17.4% (Q1 2026).

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