Having trouble figuring out what to do ... Zoning codes in Nashville, TN

6 Replies

Having trouble figuring out what to do with this zoning code

Zoning Code: Or20: Office/Residential (20 Units An Acre) | Multi-Ovly: Multi-Ovly

I have a property with this code. It is sitting on .17acres the lot dimensions are 50x156

Owner wants 100k which seems like a really good deal but just not sure.. Any advice?

@Jim Adams

 where is the property located?

it looks like you have a great property for an HPR

Yeah I sure hope so the address is 300 Collier Ave. Nashville, TN 37211

@Jim Adams

 just checked for comps in that area. there are no hprs within a 2 mile radius of your property on collier. There are new builds however they are only one structure, and at 100k purchase price that really doesn't make sense. Would it be a good rental?

I also checked rehab comps, you're looking at sub 150k for that property if the tax card is correct in the sqft and beds/baths

Hey guys--- trying to follow along, but don't understand how this fits in with Horizontal Property Regime?

Other question-- if it's only on .17 acre and the OR20 allows up to 20 units per acre, what can you do with it?  From what I can see its a 2br/1ba home?  

A quick glance at padmapper shows no 2/1 SFRs for rent in that area, just condos and apartments for about $900 per month.  

Sorry if I am showing my ignorance here -- just trying to learn.

No @Tom Shepard

These are precisely the questions I'm hoping to get answers to. 

@Devan McClish

It has been lived in by family members so they weren't getting any rent off of them. It is a 2/1 1200sqft SFR

Its the zoning code and the .17 acres that's throwing me for a loop fellas..just doesn't quite add up!

@Jim Adams  

Or20 = 20 units per acre so 0.17 acres allows for 3 units. You may have to file an appeal to the zoning board for a 4th unit. Question: Is the dirt worth $100K? 

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