542 Ashe Ave, New Johnsonville, TN
$ 1,997,000
Property Attributes
  • MLS#2592966
  • TypeMulti-Family
  • CityNew Johnsonville
  • NeighborhoodLakeside Manor Apartments
  • Zip37134
  • StyleMulti Family
  • Year Built1969
  • Taxes$ 6928
  • Price$ 1,997,000
  • Bedrooms4
  • Full Bathrooms2
  • Half Bathrooms0
  • Sqr Footage18720
Data Source:
Listing courtesy of RealTracs MLS as distributed by MLS GRID
Property Description

Welcome to your next lucrative investment venture in the heart of New Johnsonville! This 24-unit apartment complex offers you the perfect opportunity to grow your real estate portfolio and maximize your returns. With spacious two-bedroom, one-bath units and proximity to the area's largest employers, this is a promising value-add property with a built-in revenue potential. Select units have been tastefully updated with new vinyl floors, fresh paint, and modern appliances, providing an attractive incentive for prospective tenants and rent increases. With a combination of updated units and rent increases in progress, this property offers substantial income growth potential. Additionally, the location's strong demand for housing, thanks to the proximity to major employers, makes it an ideal investment for long-term financial security. The included property management company is well-versed in the intricacies of the complex, enabling a smooth transition for the new owner. Don't miss out!

Elementary School Middle School High School
Lakeview Elementary Lakeview Elementary Waverly Central High School
Price History
11/13/2023 Listed $2,100,000
12/3/2023 5% - $1,997,000

General Features

Sewer Septic Tank
Heating Baseboard,Electric,Other
Cooling Wall/Window Unit(s)
Utilities Electricity Available,Water Available
Possession Close Of Escrow
Roof Shingle
Zoning Commercial
Security Features Smoke Detector(s)
Construction Materials Brick
Year Built 1969
Stories 2
Levels One
Gross Income 216000
OwnerPays Water
County Humphreys County,TN
Net Operating Income 193920
Operating Expense 22080
New Construction No
Property Type Residential Income
Attached Garage No
Subdivision Name Lakeside Manor Apartments
Garage Y/N No
Status Active
Buyer Financing Conventional,Other
Directions From Waverly,Hwy 70 West to New Johnsonville,turn left on Long Street,turn right on Ashe
High School Waverly Central High School
City New Johnsonville
View Y/N No
Total Units 24
Waterfront Y/N No
Carport Y/N No
Street Name Ashe Ave
Elementary School Lakeview Elementary
Property Attached Y/N Yes
Year Built Details APROX
Tax Annual Amount 6928
Middle/Junior High School Lakeview Elementary
Days on Market 85
Building Area Units Square Feet
Standard Status Active
Total Actual Rent 1500

Interior Features

Flooring Laminate,Vinyl
Air Conditioning Y/N Yes
Heating Y/N Yes
Fireplace Y/N No
Above Grade Finished Area 18720
Laundry Features None
Below Grade Finished Area Unit Type Square Feet
LivingAreaSource Assessor
Below Grade Finished Area Source Assessor
Above Grade Finished Area Source Assessor
Above Grade Finished Area Unit Type Square Feet
Living Area Units Square Feet

Exterior Features

Parking Features Asphalt,Parking Lot,Unassigned
Water Source Public
Inclusions APPLN
Building Area Total 18720
Lot Dimensions 3.5
Lot Size Units Acres


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 37134

AVG $6,928
AVG 66
Data Provided by Inside Real Estate®
Year Built
AVG 1969
AVG 32
Data Provided by Walkscore® not using MLS data