REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by William (Trey) Sugg • Realty One Group Music City
$ 789,900
Est. payment /mo
Active
151 Covington Ln Dickson, TN 37055
5,491 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,491 sqft
Price per Sqft $143
Subdivision County
MLS Listing ID 3008963
HOA Y/N No
Year Built 1983
Annual Tax Amount $3,349
Lot Dimensions 5.1
Property Description
STABILIZED MIXED-USE | COMMERCIAL ZONING | CASH FLOWING
Currently generating ~$7,900/month gross income with 5 of 6 income streams occupied.
Income breakdown:
4 renovated 2BR / 1.5BA apartments at $1,600 each ($6,400 total)
2,700 sq ft warehouse/commercial space leased at $1,500
Separate garage/storage unit vacant with ~$389 monthly potential
At full occupancy gross reaches ~$8,289/month, exceeding the 1% rule at the current $789,900 price and supporting strong 8–10%+ cap rates.
Tenants pay all utilities (individually metered)
Situated on 5.1 acres with commercial zoning and no HOA, the property offers a rare mixed-use combination of residential apartments, commercial warehouse space, and expansion land in a quiet setting just minutes from Dickson and about 1 hour west of Nashville.
Recent infrastructure improvements include a septic system upgrade with new tank and field lines to support the property's multi-unit capacity.
Majority of HVAC systems replaced within the past 5 years.
Turnkey investment with proven rents.
Appliances convey.
---
VALUE-ADD OPPORTUNITIES
Rent the garage/storage unit (~$389/mo potential)
Utilize the unfinished basement areas for storage or finish for extra living space
Add RV pads with utilities
Develop storage units or contractor yards (commercial zoning)
Clear additional land for cabins, glamping, or additional structures
Currently generating ~$7,900/month gross income with 5 of 6 income streams occupied.
Income breakdown:
4 renovated 2BR / 1.5BA apartments at $1,600 each ($6,400 total)
2,700 sq ft warehouse/commercial space leased at $1,500
Separate garage/storage unit vacant with ~$389 monthly potential
At full occupancy gross reaches ~$8,289/month, exceeding the 1% rule at the current $789,900 price and supporting strong 8–10%+ cap rates.
Tenants pay all utilities (individually metered)
Situated on 5.1 acres with commercial zoning and no HOA, the property offers a rare mixed-use combination of residential apartments, commercial warehouse space, and expansion land in a quiet setting just minutes from Dickson and about 1 hour west of Nashville.
Recent infrastructure improvements include a septic system upgrade with new tank and field lines to support the property's multi-unit capacity.
Majority of HVAC systems replaced within the past 5 years.
Turnkey investment with proven rents.
Appliances convey.
---
VALUE-ADD OPPORTUNITIES
Rent the garage/storage unit (~$389/mo potential)
Utilize the unfinished basement areas for storage or finish for extra living space
Add RV pads with utilities
Develop storage units or contractor yards (commercial zoning)
Clear additional land for cabins, glamping, or additional structures
Location
State TN
County Dickson County
Zoning Commercial
Interior
Heating Central
Cooling Central Air
Flooring Carpet, Laminate
Fireplace N
Exterior
Garage Spaces 2.0
Utilities Available Water Available
View Y/N false
Roof Type Shingle
Private Pool false
Building
Story 1
Sewer Septic Tank
Water Private
Structure Type Brick
New Construction false
Schools
Elementary Schools Centennial Elementary
Middle Schools Dickson Middle School
High Schools Dickson County High School
Others
Senior Community false
Special Listing Condition Standard
© 2026 Listings courtesy of RealTrac as distributed by MLS GRID. All Rights Reserved.