Green Ridge

Greene Ridge is strategically located in Greeneville, Tennessee. This established residential neighborhood offers convenient access to major employers, historic downtown Greeneville, Tusculum University, and regional transportation corridors. Greeneville sits approximately 40 minutes from Johnson City and the Tri-Cities MSA, roughly 90 minutes from Knoxville, and 75–90 minutes from Asheville, North Carolina, providing residents with small-town affordability alongside access to larger metro amenities and economic opportunities. Greene County benefits from a resilient economy anchored by manufacturing, healthcare providers, and Tusculum University. Key attractions include the Andrew Johnson National Historic Site, historic downtown districts, and the Nolichucky River. The area’s workforce, pro-business environment, and steady population growth create consistent demand for quality, affordable rental housing — particularly the one- and two-bedroom units that make up Greene Ridge.Greene Ridge presents a rare opportunity to acquire a recently renovated, 83-unit multifamily portfolio in Greeneville, Tennessee. This well-maintained community features a balanced mix of 51 one-bedroom and 32 two-bedroom units across multiple buildings in a desirable residential neighborhood. Each building includes its own shared laundry room, and there are 9 smaller storage units available for additional resident rental income. Recent capital improvements include updated parking lots, new/replaced roofs, refreshed siding, along with major interior remodeling. The asset is positioned as turnkey with significantly reduced near-term capex requirements. Current rents are below market, offering modest upside. The portfolio benefits from a proven hybrid leasing strategy: stable long-term residential tenants complemented by 4 units operating as mid-term rentals (1–3 months) for traveling professionals. This results in a true vacancy rate of approximately ~7.2%, providing immediate cash flow stability and additional upside through lease-up, organic rent growth, and storage income. Ideal for investors seeking a stabilized, income-producing asset with steady growth potential in East Tennessee’s workforce housing market, Greene Ridge benefits from diversified demand drivers including manufacturing, healthcare, Tusculum University, and tourism. The property is offered with established branding, proven management systems, and strong regional connectivity.