For Sale
$1,634,997

5144 Linbar DrNashville, TN 37211

Value-add multifamily investment opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 12-unit multifamily portfolio in Nashville, TN, presents a compelling value-add investment opportunity. Comprising three buildings totaling 6,520 net rentable square feet, this property boasts 12 units across three locations: 5144 and 5152 Linbar Dr (8 units) and 209 E Webster St (4 units). Built in 1982 and 1983, with renovations completed in 2012, the property features updated interiors including newer LVP flooring and hot water heaters, and in-unit washer/dryer hookups. The buildings sit on a combined 30,928 square foot lot and are zoned OR20, offering versatile exit strategies. Currently operating at 84% occupancy, with two units vacant for showing purposes, the property offers significant potential for increased rental income. The historical occupancy rate has been near 100%, demonstrating strong tenant demand. The asking price is $1,634,997, representing $136,250 per unit and $250.23 per square foot. The pro-forma cap rate is 7.22%, and the pro-forma NOI is $118,000. Flood insurance is not required. This portfolio is ideally suited for investors seeking long-term value and growth in the thriving Nashville market. The property is professionally managed and well-maintained. This is a rare opportunity to acquire three, four-unit buildings within 15 minutes of downtown Nashville.

Highlights

  • 12-unit multifamily portfolio, 15 minutes from downtown Nashville.
  • 8-unit building in South Nashville, plus a separate 4-unit building in Madison, TN.
  • All units are commercially zoned OR20.
  • Professionally managed and maintained.
  • Potential for rental income increase.
  • Currently 84% occupied, with two vacant units.

Property Details for 5144 Linbar Dr

Property type
Apartment buildings
Square Feet
6,534 SF
Class
C
Year Renovated
2012
Buildings
3
Stories
2
Units
12

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.0800062
Longitude
-86.6971443
5144 Linbar Dr, Nashville, Tennessee

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5144 Linbar Dr
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