Covington | 151 Covington Ln
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Covington 151 Covington Ln
5 Unit Block of Flats £586,446 (£117,289/Unit) 8.20% Net Initial Yield Dickson, TN 37055
Investment Highlights
- Single lease - Current tenant that would like to stay rents entire property and covers maintenance and grounds upkeep.
- Rural location close to I-40.
- Full basement under each quad residential unit.
Executive Summary
5 rentable units - 4 apartments and 1 warehouse/commercial. 5 acre property consisting of residential quadplex with full unfinished basement and 2500 sq ft metal building currently used as mechanic’s shop. Shop has finished area w/ office with bathroom. Quiet and secluded location. Also not far from town. Res quad units have had some updates in recent years. Metal roof. Turn key situation. Inquire for more details.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £586,446 | Building Class | C |
| Price Per Unit | £117,289 | Lot Size | 5.10 AC |
| Sale Type | Investment | Building Size | 5,491 SF |
| Net Initial Yield | 8.20% | Average Occupancy | 100% |
| No. Units | 5 | Number of Floors | 1 |
| Property Type | Residential | Year Built | 1986 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | £586,446 |
| Price Per Unit | £117,289 |
| Sale Type | Investment |
| Net Initial Yield | 8.20% |
| No. Units | 5 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 5.10 AC |
| Building Size | 5,491 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 1986 |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Basement
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 1,372 |
| Studios | 1 | - | 2,520 |
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PROPERTY TAXES
| Parcel Number | 022121 02502 | Total Assessment | £111,515 (2023) |
| Land Assessment | £17,464 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £94,050 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
022121 02502
Land Assessment
£17,464 (2023)
Improvements Assessment
£94,050 (2023)
Total Assessment
£111,515 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
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Covington | 151 Covington Ln
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