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Listed by Aly Clifton • VOLUME Realty
$ 950,000
Est. payment /mo
New
305 Coles Ferry Pike Lebanon, TN 37087
1.46 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2974332
HOA Y/N No
Annual Tax Amount $920
Lot Size 1.460 Acres
Acres 1.46
Lot Dimensions 66.39 X 210 IRR
Property Description
***SELLER IS ACCEPTING BACKUP OFFERS*** PRIME LOT FOR DEVELOPERS *** Zoned R2 High Density Residential and approved for up to 18 units for ANY type of residential- Single family, townhome, multi-family, etc. LOCATED in the infill overlay area.***This is a FIVE LOT package deal, to include two vacant lots and three current properties, a quad and two triplexes, all 10 units have long-term renters paying $1,000 each. Tenants convey but will move out. Properties bringing in $10,000/month in rental income. ***Electricity, water, and sewer available and ready to go. **Two options here** OPTION 1: Keep the current properties generating 10k a month, and build up to 5 additional units. **See document attached which shows what each lot is approved for by the city*** OPTION 2: If you tear down the three homes and combine 4/5 lots, the city will approve 18 units. This is the highest amount with current zoning, but planning mentioned if it's rezoned this number could go up. **You do NOT have to go before the commission to combine these lots because they will consider it a "minor combination." Level tract and located minutes from Historic Downtown Lebanon. Lots are being offered at an incredible price compared to active listings and comps in this area, perfect opportunity for developers!! Already have a lender who can assist with financing as well if requested. Bring us an offer!!
Location
State TN
County Wilson County
Zoning R2 / Infil
Interior
Fireplace N
Exterior
Utilities Available Water Available
View Y/N false
Private Pool false
Building
Lot Description Cleared, Level
Sewer Public Sewer
Water Public
Schools
Elementary Schools Coles Ferry Elementary
Middle Schools Walter J. Baird Middle School
High Schools Lebanon High School
Others
Senior Community false
Special Listing Condition Standard
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