SHORT TERM RENTAL OPPORTUNITY | 12 SOUTH | One of the more compelling value-add STR opportunities currently available in Nashville. This established 3BR/4BA short-term rental is already producing approximately $70,000 annually in gross revenue, equating to roughly a 10.3% gross yield at list price — and that is with… Read More significant room left to improve.
The property has already proven demand with 280 Airbnb reviews, a 4.76-star rating, and years of operating history, yet the current furniture, decor and overall presentation are dated compared to many of Nashville’s top-performing STRs. It is also currently configured to sleep only 8 guests. With a thoughtful $30K-$50K design and furniture refresh, upgraded photography and an optimized sleeping arrangement for potentially 10 guests, there is a strong opportunity to increase ADR and push annual gross revenue toward the $90K-$100K range.
The location is a major part of the story. Positioned in the highly desirable 12 South / Melrose corridor with an 80 Walk Score, guests are a quick rideshare from everything that makes this one of Nashville’s most popular areas — Sushi-san, Urban Grub, bartaco, Five Daughters Bakery, Edley’s BBQ, The Henry, Frothy Monkey, Sevier Park and the shops, restaurants and nightlife along 12th Ave South — while also maintaining easy access to Belmont, Vanderbilt, The Gulch, Downtown and Broadway.
With 3 bedrooms, 4 full baths, 1,540 SF, an attached garage, proven existing revenue and a purchase price under $700K, this is not an STR that needs a turnaround to make sense. The current numbers already work. The upside is in the repositioning. For an investor looking for immediate income, a premier Nashville location and a clear path to materially improve performance, this is an opportunity that is increasingly difficult to find at this price point. Read Less
Courtesy of Compass, Jack Costigan, 9198898195.
Listing Snapshot
Days Online
20
Last Updated
Property Type
Townhouse
Beds
3
Full Baths
4
Square Ft.
1,540
Lot Size
0.01 Acres
Year Built
2019
MLS Number
3530655
Additional Details
Appliances & Equipment
Electric Oven, Electric Range, Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer
Building
Built in 2019, Year Built Details: Existing, Living area: 1540, Living area units: Square Feet, Levels: Three Or More, Construction Materials: Frame, Brick
Cooling
Central Air
Floors
Carpet, Wood, Tile
Garage
1 space
Heating
Central
Home Owner's Association
Association Fee: $300, Fee Frequency: Monthly, Fee Includes: Maintenance Structure, Maintenance Grounds, Pest Control, Trash
Income
Gross Income: $70,000
Interior Features
Ceiling Fan(s), Extra Closets, Pantry, Walk-In Closet(s)
Lot
0.01 acres
Parking
1 covered space, 1 total parking space, Garage Faces Front
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