For Sale
$2,990,000

426 Iris DrNashville, TN 37204

Four Luxury Units, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a portfolio of four brand-new, fully furnished, luxury short-term rental units in Nashville's desirable Berry Hill neighborhood. Each unit boasts 1,812 square feet, featuring four bedrooms and three bathrooms, and is part of a two-building, three-story complex built in 2023. The 7,272 square foot property sits on a 0.21-acre lot and offers stunning downtown skyline views from its rooftop deck. Private outdoor areas are included with each unit. Currently operating at 100% occupancy, this turnkey investment generates a substantial pro-forma NOI of $61,921, representing a 7.75% cap rate on the $2,990,000 asking price. The property's prime location provides easy access to Nashville's vibrant culinary and entertainment scene. This is an exceptional opportunity to acquire a high-performing, low-maintenance investment property in a rapidly appreciating market. The property is zoned 4Zz. Two parking pads are available. Photos of one unit are available, with photos of the remaining units available upon request.

Highlights

  • $2,990,000 asking price for a Class A multifamily investment portfolio.
  • Four (4) luxury short-term rental units in Nashville, TN.
  • 7,272 square feet total, with each unit offering 1,812 square feet of living space.
  • 100% occupancy and a 7.75% cap rate, generating a pro-forma NOI of $61,921.
  • Located on a 0.21-acre lot at 426 E Iris Dr, Nashville, TN 37204, in the Berry Hill neighborhood.

Property Details for 426 Iris Dr

Property type
Residential income homes
Square Feet
7,272 SF
Class
A
Year Built
2023
Buildings
2
Stories
3
Lot Size (sq. ft)
9,148 SF
Units
4

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.114546232177
Longitude
-86.762497039429
426 Iris Dr, Nashville, Tennessee

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426 Iris Dr
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