917 High St Columbia, TN 38401

Property Details for 917 High St

Year built

1900

Property size

2,450 SF

Property type

Commercial real estate

Description

This exceptional six-unit apartment building, located at 917 S High St in Columbia, Tennessee (zip code 38401), presents a compelling investment opportunity. The 2,450 square foot property, built in 1900, is a two-story Class B multifamily building situated in the desirable Columbia Arts District. Its prime location offers easy access to the Columbia Arts Building, the Library, and downtown Columbia's vibrant amenities, providing tenants with a walkable lifestyle. The building features six parking spaces, one for each unit. Half of the units have been renovated, while the remaining units are ready for upgrades, presenting significant value-add potential for the new owner. The property boasts a strong pro-forma cap rate of 8%, indicating a solid return on investment. While initially conceived as a short-term rental property with a "Music Legends" theme inspired by The Mulehouse, the current offering focuses on its potential as a cash-flowing rental property. Significant improvements have already been made, including the replacement of much of the plumbing and essential fixtures. This property is priced at $750,000, translating to $306 per square foot. Given the high demand for properties in this area, this opportunity is expected to attract significant interest. Please respect the privacy of current tenants and refrain from disturbing them.

Location Insight

City

Columbia

County

Maury

State

Tennessee

Longitude

-87.0373336

Latitude

35.612669