I love working the the urban core market. Looking at downtown properties is just so much fun. The lifestyle, the design – what’s not to like? But the price points of urban living can often be steep. Today I am going to highlight three active Nashville condos for sale that may be of interest.
Affordability at ICON in the Gulch?
Nothing says luxury like the ICON. It’s the largest, and arguably the most noteworthy development in Nashville. Did you know that ICON offers a number of studio/one bedroom homes that start at $200,000? There are about 50 of them in the complex so you should expect to see one or two available on the resale market at any given time. For the next couple of years, they will continue to carry MDHA income restrictions (right now $36,800) but for the right buyer, they can a smart investment.
Are you a Vandy or Belmont student? If you parents are willing to make a cash-investment in your name, you could be the perfect candidate. Call me for more details.
[idx-listing mlsnumber=”1396531″]
The Lofts Above Germantown Cafe
Looking for a really hot deal? Changes to the condo financing market have left the owners of a fab little studio in Germantown in a bit of a pickle. This is a small development; just six units – and there are no deed restrictions on use. Five of them are currently being utilized as rentals and they could possibly be used for commercial ventures too. In the eyes of the banks, this is a no-no at the moment. Banks expect condo developments to have an investor ratio below 50% before they will issue a loan.
This rule means that an investor or cash-buying owner-occupant could swoop in and purchase this unit at about 30% under market value. Remember. For this deal, cash is king.
[idx-listing mlsnumber=”1375549″]
But I Really Want To Be Downtown!
Well if that’s the case, you might want to consider Bennie Dillon. With attractive entry price points, en suite laundry, and deeded parking, you can’t go wrong. Here’s the best part, Bennie Dillon is FHA approved!
[idx-listing mlsnumber=”1406580″ showall=”false”]
