Listed by Residential Investment Advisors LLC
$975,000
138 HIBISCUS DR ASHLAND CITY TN 37015
Details
APN 055K F 01700
Property Type Multifamily
Square Footage 6,364
Net Rentable (SqFt) 5,524
Units 6
Cap Rate 5.65%
NOI $55,136
Occupancy 100%
Pro-Forma Cap Rate 6.11%
Pro-Forma NOI $59,582
Class B
Year Built 1988
Year Renovated 2025
Buildings 1
Stories 1
Lot Size (SqFt) 32,800
Parking Spaces 2 per unit
Sale Condition N/A
Well Maintained, Stabilized Asset
Marketing description
Hibiscus 6 is a 6-unit mutifamily property located at 138 Hibiscus Drive in Ashland City. Originally built in 1988 and recently renovated, the property consists of a single building totaling approximately 5,524 square feet. The asset features six 2-bedroom, 1-bath units, each averaging approximately 921 square feet, with functional layouts and in-unit laundry hookups that appeal to today's renters. Opportunity for light turnovers to press market rents as well as implementing RUBS system to recoup owner paid expenses.
Investment highlights
Stabilized with opportunity for light value add and NOI increases
Well maintained, minimal deferred maintenance
Solid growth market, 30 minutes from downtown Nashville
Listing Contacts
Listed by Residential Investment Advisors LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$55,136.00
$4,594.67/mo
Valuation Metrics
0
DSCR
5.65%
Cap Rate
5.65%
ROI
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