Welcome to Jefferson Flats, a lucrative investment opportunity strategically positioned just minutes away from Tennessee State University and the vibrant heart of Downtown Nashville. This updated and well-maintained 12-unit apartment complex, spanning 7,300 square feet, presents a unique blend of prime location and strong rental potential. Originally constructed in 1963, Jefferson Flats has undergone extensive renovations, ensuring a modern and appealing living space for tenants. Each unit currently commands nearly $1,250 per month in rent, and with the opportunity to further align with market trends, there's room for increased returns in the coming year.
Additionally, Jefferson Flats is approved for use as a Non-Owner-Occupied Short-Term Rental in Nashville, opening up an additional revenue stream for savvy investors looking to capitalize on Nashville's thriving tourism market. Jefferson Flats is not just an investment; it's a path to sustainable and growing returns in the heart of Music City.Property Overview:
- Unit Composition: 12 - 2bd/1ba
- Recent Updates: Large amount of capital has gone into this property since 2021 making it a turnkey investment.
- HVAC Systems: PTAC HVAC install in all units
- Utilities: Separate electric meters for each unit, enhancing tenant responsibility and reducing owner expenses.
- Water Management: Master water paid by the seller with a RUBS (Ratio Utility Billing System) in place for most tenants, optimizing cost distribution.
- New Roof
- Sewer Line Repair
- Vapor Barrier installation
- Building Supports
- Exterior Lights
- Electrical Panels
- Water Heater Replacements
- LVL Supports
- Plumbing Repairs & Updates
- In Unit Laundry: All Units are equipped with in-unit laundry hook ups.
- Location: Minutes from Downtown Nashville and TSU