3201 Orleans DrNashville, TN 37212

Property Details for 3201 Orleans Dr

Year built

1935

Lot size

0.36 AC

Property size (Sq ft)

5,043 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This charming, two-unit duplex in Nashville, TN, presents a compelling investment opportunity. Built in 1935 and renovated in 2010, the property boasts 5,043 square feet on a 0.36-acre lot, offering ample space and potential. Currently generating a $100,000 annual net operating income (NOI) with a 5.05% cap rate, the property features two units, each with its own unique appeal. One unit is currently vacant, while the other has a lease in place until August 31, 2025. The asking price is $1,980,000, or $990,000 per unit, with a price per square foot of $392.62. The property includes six parking spaces and is zoned R1 Duplex. While the property has historically been used for both short-term and long-term rentals, with short-term rental potential of $15,000 per month during peak season, a detached carriage house on the property will require demolition. The sale is AS-IS, with furnishings negotiable. The property features three separate electric meters and is conveniently located near Love Circle, West End Avenue, and Vanderbilt University. The property is currently operating under a valid short-term rental permit. Two sets of washer/dryer units will remain with the property. The seller pays all utilities. The property's location and income potential make it an attractive investment for discerning buyers. Occupancy is expected by October 31, 2024.

Location Insight

City

Nashville

County

Davidson

State

Tennessee

Latitude

36.1403

Longitude

-86.815

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].