138 HIBISCUS DR Ashland City, TN 37015
Recently renovated six-unit multifamily with six two-bedroom, one-bath apartments and in-unit laundry hookups.
- Added:
- Jun 29, 2026
- Days on Market:
- 13
- Last Refresh:
- Jul 4 at 3:36 am
Property Features for 138 HIBISCUS DR
General Information
- Standard status
- Active
- Size
- 6,364 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1988
Listing office Residential Investment Advisors LLC
Listing date Jun 29, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Residential Investment Advisors LLC
Investment Insights
Based on property information with market context.
Located at 138 Hibiscus Drive in Ashland City, the property consists of one building serving all six units. As a small-balance multifamily, it provides straightforward operations and clear tenancy structure across the same unit mix throughout.
The building’s recently renovated condition and consistent two-bedroom layout may appeal to buyers seeking a manageable size income property. The seller’s remarks also point to potential operational opportunities, including light turnovers to align rents with current market levels and implementing RUBS to help recoup owner-paid expenses. For investors or operators interested in a compact, ready-to-lease workforce with an apartment mix built around in-unit laundry convenience, Hibiscus 6 offers a focused, repeatable unit strategy.
Key Highlights
- 6‑unit multifamily property at 138 Hibiscus Drive in Ashland City
- Built in 1988 and recently renovated
- Single building totaling approximately 5,524 SF
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.8k | $20.40 |
| − Vacancy | −$9.2k | −$1.45 |
| EGI | $120.6k | $18.95 |
| − OpEx | −$54.3k | −$8.53 |
| NOI | $66.3k | $10.42 |
