Property Details for 5700 Leslie Ave

Year built

1970

Lot size

1.33 lot acres

Property type

Commercial real estate

Description

This exceptional value-add opportunity presents a 22-unit apartment building situated on a 1.33-acre lot in Nashville, Tennessee's desirable Charlotte Park neighborhood, adjacent to The Nations. The property, built in 1970, features a two-story brick building with pitched roofs and a concrete slab foundation. The 13,200 square feet of net rentable space houses 22 one-bedroom units, each boasting hardwood/tile flooring, an open floor plan, an eat-in kitchen, and built-in closet shelving. Current rents are below market rate, presenting significant upside potential. The property includes 29 surface parking spaces (1.3 spaces per unit), individually metered utilities (water and electric), and an on-site laundry facility. Recent renovations have enhanced the interior and exterior aesthetics. The property offers easy access to the Charlotte Pike corridor and a convenient 10-minute drive to downtown Nashville. The current NOI is $159,757, with a pro-forma NOI of $194,097 reflecting the potential for increased revenue. This property is a rare value-add opportunity in a rapidly developing area, offering strong potential for significant returns on investment. The property is classified as a Class B multifamily investment. The building is constructed of wood frame with composition shingles. All cash purchase is required.

Location Insight

City

Nashville

County

Davidson

State

Tennessee

Longitude

-86.859406776174

Latitude

36.155607733613