For Sale
$940,000

947 Sharpe AveNashville, TN 37206

Four-unit, stabilized duplexes, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents two renovated, one-story duplexes totaling four units in desirable East Nashville, Tennessee. Built in 1940 and extensively renovated in 2015, the property boasts 2,550 square feet of net rentable space, currently achieving 100% occupancy. The property's strong performance is reflected in a current Net Operating Income (NOI) of $45,464, translating to a 4.84% capitalization rate. Pro-forma projections indicate a potential NOI of $49,000 and a 5.21% cap rate. Each of the four units is priced at $235,000, with the entire property listed at $940,000. Located at 947 Sharpe Ave, Nashville, TN 37206, this Class B property benefits from its prime location in a rapidly developing area, minutes from Broadway, Capitol Hill, and the emerging River North neighborhood. Nearby amenities include a Publix and Starbucks. The property is zoned RS, offering potential for future development, although verification is required by the buyer. This presents a compelling opportunity for long-term growth or redevelopment in a thriving Nashville market. The property's strong cash flow and development potential make it an attractive investment.

Highlights

  • Two renovated, four-unit duplexes in desirable East Nashville.
  • 2,550 square feet of net rentable space, 100% occupied.
  • Current NOI of $45,464, 4.84% cap rate; Pro-forma NOI of $49,000, 5.21% cap rate.
  • $940,000 asking price ($235,000 per unit).
  • Prime East Nashville location near Broadway, Capitol Hill, and River North; RS zoning with potential for future development.

Property Details for 947 Sharpe Ave

Property type
Apartment buildings
Square Feet
2,550 SF
Class
B
Year Built/Renovated
1940/2015
Buildings
2
Stories
1
Units
4

Location Insight

City
Nashville
County
Davidson
State
Tennessee
Latitude
36.1901148
Longitude
-86.7507303
947 Sharpe Ave, Nashville, Tennessee

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
947 Sharpe Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message