638 S Broad Street, Lexington, TN 38351
Active $350,000
1 Full, 1 Half
4 Beds
2,239 SqFt
2.47 Acres
- Exceptional Multi-Residential Investment Opportunity in Lexington, TN! If you have been looking for an investment property with multiple income-producing possibilities, this unique property deserves your attention! Conveniently located along a main highway in Lexington, Tennessee, with easy access to city amenities, this property offers three separate residences situated on approximately 2.47 acres. Currently, two of the homes are tenant-occupied, providing existing rental income. The third and primary home offers incredible flexibility and potential for a variety of uses, making this an especially appealing opportunity for investors, entrepreneurs, or anyone looking to combine their home and business in one location. The main home features 4 bedrooms, 2 kitchens, a garage, and an additional storage area that could potentially be converted into a small apartment. Previously used as a craft shop and nail salon, this home has also served as a duplex and single-family residence. With some creativity and renovation, it could potentially be converted back into a duplex, creating the possibility of four rental units on one property! Another option would be to operate your business on one side while enjoying the convenience of living on the other. The two additional homes are currently rented and occupied. One offers 4 bedrooms and 1 bath with central heating and air, while the other features 2 bedrooms and 1 bath. Both homes would benefit from some TLC and updating, offering an investor the opportunity to make improvements and potentially increase rental income. The property also features a nice, spacious backyard adjoining the main home, along with a large tract of vacant land toward the rear of the property. This additional acreage provides even more possibilities, including the potential for additional rental units. With approximately 2.47 acres, three existing residences, established rental occupancy, and numerous opportunities for expansion and redevelopment, this property offers a rare combination of location, versatility, and investment potential. Whether you envision expanding your rental portfolio, creating multiple income streams, developing additional living spaces, or establishing your business while living on-site, the possibilities are plentiful! Contact Debbie Mays today to schedule your private showing and explore all this property has to offer! Appointments are required to view the tenant-occupied rental homes.
- Year Built: 1962
- Air: Window Unit(s)
- Heat: Floor Furnace
- Water: Public
- Sewer: Public Sewer
MLS#: 2605148
NEW Just listed — be the first to see it
4 bed, 2 bath · 2,239 sq ft
Marco Taaffe, REALTOR®
Principal Broker, HUNTINGDON
731-415-8878
Marco Taaffe was born in the UK. He succeeded in gaining a scholarship to play soccer at Bethel University TN, and graduated Magna Cum Laude in Business Management and Criminal Justice. Seduced by wor...
JUST LISTED
Just listed — be the first to see it
This 4 bed, 2 bath home at $350K won't last.
Only 7 days on market.
Get in the door before someone else does.