151 Covington Ln, Dickson, TN 37055
- Sqft
- 5,491
- Garage
- Yes
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Overview
STABILIZED MIXED-USE | COMMERCIAL ZONING | CASH FLOWING
Currently generating ~$7,900/month gross income with 5 of 6 income streams occupied.
Income breakdown:
4 renovated 2BR / 1.5BA apartments at $1,600 each ($6,400 total)
2,700 sq ft warehouse/commercial space leased at $1,500
Separate garage/storage unit vacant with ~$389 monthly potential
At full occupancy gross reaches ~$8,289/month, exceeding the 1% rule at the current $789,900 price and supporting strong 8–10%+ cap rates.
Tenants pay all utilities (individually metered)
Situated on 5.1 acres with commercial zoning and no HOA, the property offers a rare mixed-use combination of residential apartments, commercial warehouse space, and expansion land in a quiet setting just minutes from Dickson and about 1 hour west of Nashville.
Recent infrastructure improvements include a septic system upgrade with new tank and field lines to support the property's multi-unit capacity.
Majority of HVAC systems replaced within the past 5 years.
Turnkey investment with proven rents.
Appliances convey.
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VALUE-ADD OPPORTUNITIES
Rent the garage/storage unit (~$389/mo potential)
Utilize the unfinished basement areas for storage or finish for extra living space
Add RV pads with utilities
Develop storage units or contractor yards (commercial zoning)
Clear additional land for cabins, glamping, or additional structures
Location
Full feature list
Basic info
- Property type
- Other residential
- Number of stories
- 1
- Square feet
- 5,491
- Lot size (acres)
- 5.10
- Year built
- 1983
Interior features
- Laundry
- Electric Dryer Hookup, Washer Hookup
Garage and parking
- Garage parking spaces
- 2
Utilities
- Heating
- Central
- Cooling
- Central Air
Taxes
- Tax Annual Amount
- $3,349
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: Realtracs MLS®#: 3008963 Last checked: …
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.