151 Covington Ln - Apartments FOR SALE


Dickson, TN 37055
$789,900 USD
615-636-8244
151 Covington Ln, Dickson, TN for Sale
$789,900 USD
Apartments - FOR SALE
1/59
null | 8.18% Cap Rate

151 Covington Ln
Dickson, TN 37055


OVERVIEW

STABILIZED MIXED-USE | COMMERCIAL ZONING | CASH FLOWING Currently generating ~$7,900/month gross income with 5 of 6 income streams occupied. Income breakdown: 4 renovated 2BR / 1.5BA apartments at $1,600 each ($6,400 total) 2,700 sq ft warehouse/commercial space leased at $1,500 Separate garage/storage unit vacant with ~$389 monthly potential At full occupancy gross reaches ~$8,289/month, exceeding the 1% rule at the current $789,900 price and supporting strong 8–10%+ cap rates. Tenants pay all utilities (individually metered) Situated on 5.1 acres with commercial zoning and no HOA, the property offers a rare mixed-use combination of residential apartments, commercial warehouse space, and expansion land in a quiet setting just minutes from Dickson and about 1 hour west of Nashville. Recent infrastructure improvements include a septic system upgrade with new tank and field lines to support the property's multi-unit capacity. Majority of HVAC systems replaced within the past 5 years. Turnkey investment with proven rents. Appliances convey. --- VALUE-ADD OPPORTUNITIES Rent the garage/storage unit (~$389/mo potential) Utilize the unfinished basement areas for storage or finish for extra living space Add RV pads with utilities Develop storage units or contractor yards (commercial zoning) Clear additional land for cabins, glamping, or additional structures

FOR SALE DETAILS

PRICE

$789,900 USD

PRICE/SF

$114 USD /SF

# OF UNITS

6

PRICE/UNIT

$131,650

CAP RATE

8.18%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1986

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.1 AC

LAND SF

222,156 SF

ZONING

commercial

APN/PARCEL ID

022121 02502

ASK ABOUT THIS PROPERTY

Trey SuggRealty One Group Music CityMore Info
615-636-8244

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Trey SuggRealty One Group Music CityMore Info
615-636-8244

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.