12 Unit Multifamily Property in Nashville's Gulch / Edgehill Sold
To be redeveloped into new residential
Nashville, TN – Avison Young is pleased to announce the sale of 1034 13th Avenue South in Nashville, Tennessee. The 1.14-acre redevelopment lot sold for $3.35 Million. The multifamily deal consists of six buildings / 12 units and is located just off the intersection of 12th Avenue and Edgehill. The disposition team at Avison Young led by Jordan Powell, Mike Jacobs and Lisa Maki exclusively represented the seller, Nashville Rental Partners, in this transaction. “With 1034 13th Avenue, we were able to create a competitive marketing process and hit the seller’s strike price and terms – which is always the goal in a transaction. It was a glove fit for the buyer as well and both sides were happy with the result” noted Jordan Powell, Vice President of Capital Markets, who spearheaded the sales process.
The property is a unique existing multifamily complex housing six individual lots that are permit-ready for 12 luxury homes or to be held-as-is. The asset is walking distance from the Gulch, Edgehill Village and Music Row.
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