219 Coles Ferry Pike Lebanon, TN 37087

Listing details for 219 Coles Ferry Pike, Lebanon, TN 37087 : *** PRIME LOT FOR DEVELOPERS *** Zoned R2 High Density Residential and approved for up to 18 units for ANY type of residential- Single family, townhome, multi-family, etc. LOCATED in the infill overlay area.***This is a FIVE LOT package deal, to include two vacant lots and three current properties, a quad and two triplexes, all 10 units have long-term renters paying $1,000 each. Tenants convey but will move out. Properties bringing in $10,000/month in rental income. ***Electricity, water, and sewer available and ready to go. **Two options here** OPTION 1: Keep the current properties generating 10k a month, and build up to 5 additional units. **See document attached which shows what each lot is approved for by the city*** OPTION 2: If you tear down the three homes and combine 4/5 lots, the city will approve 18 units. This is the highest amount with current zoning, but planning mentioned if it's rezoned this number could go up. **You do NOT have to go before the commission to combine these lots because they will consider it a "minor combination." Level tract and located minutes from Historic Downtown Lebanon. Lots are being offered at an incredible price compared to active listings and comps in this area, perfect opportunity for developers!! Already have a lender who can assist with financing as well if requested. Bring us an offer!!