**STR with a Cap rate of 8%+** Welcome to Spence Manor! A true icon of country music history with an enviable location in the heart of Music Row (and the correct zoning eligibility). This listing is for a portfolio of SIX UNITS (including a penthouse that sleeps 12), blends a… Read More prime location, rich storytelling, notable guest experience, and proven profitability within one of the area's most desirable corridors. Here, you and yours guests never sacrifice location and all units are fully renovated. Originally a hotel where Elvis, Johnny Cash, Dolly, and more stayed, the guitar-shaped pool sets the scene while live music from Demonbreun drifts up and down the sidewalks. This is an authentic Nashville experience that other buildings simply cannot touch. Walkable to Broadway, The Gulch, and Edgehill, and with parking on-site, this portfolio presents a turnkey opportunity for investors on Day 1 with a long-standing and proven track record of guest reviews and income. This premier location offers all of the touchpoints that guests are searching for, making these units a standout in a competitive short-term rental market. Option to connect two additional units together to create an additional 4 bed, 2 bath stay would further maximize profit. HOA includes: Water, Electricity, Exterior Maintenance, Grounds Maintenance, and Trash Pickup. Financials available. This is an active and very busy short-term rental! Showings will be scheduled around booking calendar. Read Less
Courtesy of Compass RE, Sarah Butler, 6153649634.
Listing Snapshot
Days Online
10
Last Updated
Property Type
High Rise
Beds
12
Full Baths
7
Square Ft.
5,450
Lot Size
0.02 Acres
Year Built
1974
MLS Number
3278140
Additional Details
Appliances & Equipment
Electric Oven, Electric Range, Refrigerator
Building
Built in 1974, Year Built Details: Existing, Living area: 5450, Living area units: Square Feet, Levels: One, Construction Materials: ICFs (Insulated Concrete Forms)
Cooling
Central Air
Floors
Wood, Laminate, Tile
Foundation
Pillar/Post/Pier
Garage
6 spaces
Heating
Central
Home Owner's Association
Association Fee: $805, Fee Frequency: Monthly, Fee Includes: Electricity, Maintenance Structure, Maintenance Grounds, Recreation Facilities, Pest Control, Trash, Water
Income
Gross Income: $385,000
Lot
0.02 acres
Parking
6 covered spaces, 6 total parking spaces, Unassigned
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Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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