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516 Lea Ave, Nashville, Tennessee 37203
$
3981
Bedrooms
2
Utilities Included
No
Bathrooms
2
Furnished
Yes
Available to Lease on
ASAP
Property Type
Apartment
SQFT
1089
Key metrics
Rent
$
3981
Monthly Estimated Profit?
$
2,025
Annual Estimated Profit?
$
24,300
Acquisition Fee
$
3,500
Security Deposit
$
Average Daily Rate
$
$398
Occupancy
66%
Annual Revenue
$
96,100
Key Features

This apartment community is located at 516 Lea Avenue in the high-energy SoBro district of Nashville, Tennessee. The building offers a variety of versatile floorplans from modern studios to expansive 1,200+ sq ft 2-bedroom residences.

As a premier Airbnb-partnered apartment community, qualified residents have the exclusive ability to monetize their units through professional homesharing in the heart of the Country Music Capital. The property features unmatched luxury amenities, including a rooftop saltwater pool with views of The Gulch, high-end coworking spaces, and professional on-site management. Steps away from Broadway and the city’s legendary live music scene, this location is optimized for high-demand short-term stays.

Property Features

  • Apartment Living: High-end units with floor-to-ceiling windows and premium finishes.
  • Homeshare Optimized: Direct partnership with Airbnb for legal, streamlined hosting.
  • Luxury Building Amenities: Rooftop pool, sky lounge, and state-of-the-art fitness center.
  • Turnkey Options: Units can be delivered fully furnished upon arrangement for immediate occupancy.
  • Permit Management: The $400 short-term rental permit is managed directly by the building for the client."

Bulk Acquisition Fee Breakdown

Single Property Fee (per location):

  • $2,500: One Airbnb-approved property (unfurnished).
  • $3,500: One fully furnished Airbnb-approved property.

2–4 Properties (per location):

  • $2,000 per property (unfurnished).
  • $2,750 per property (fully furnished).

Bulk Discounts (per location):

  • 5–19 Properties: $1,500 (unfurnished) / $2,000 (furnished) per property.
  • 20–49 Properties: $1,000 (unfurnished) / $1,500 (furnished) per property.
  • 50+ Properties: $500 (unfurnished) / $700 (furnished) per property.

STR Regulations Summary:  

Status:
Not STR Friendly

View Regulations Here

APARTMENTS ARE TYPICALLY ZONED FOR PERMITS

Nashville, TN has specific regulations for non-owner occupied short-term rentals (STRs). New non-owner occupied STR permits are only allowed in certain non-residentially zoned areas24. These properties are defined as residential dwelling units with no more than four sleeping rooms, used and/or advertised for transient occupancy by guests, where the owner does not live on the property12.To operate a non-owner occupied STR in Nashville:

  1. Obtain a permit from the Metro Codes Department before listing the property4.
  2. Ensure the property is in an eligible zoning district as listed in the District Land Use Table24.
  3. Provide personal contact information for the owner and a responsible party residing within 25 miles of the property13.
  4. Submit proof of insurance, proof of written notification to adjacent properties, and a statement that the STR does not violate homeowners association agreements1.
  5. Pay applicable taxes, including business, sales, and hotel occupancy taxes24.
  6. Renew the permit annually before the expiration date2.

The current permit fee for non-owner occupied STRs is $313.003. Operators must comply with specific rules to maintain their permit, and violations can result in permit revocation4.It's important to note that these regulations are subject to change, and prospective STR operators should consult the Nashville.gov website or contact strpquestions@nashville.gov for the most up-to-date information24.

New not owner-occupied permits will only be issued as a use permitted with conditions (PC) in MUN and MUN-A, MUL and MUL-A, MUG and MUG-A, MUI and MUI-A, OG, OR20 through OR40-A, ORI and ORI-A, CN and CN-A, CL and CL-A, CS and CS-A, CA, CF, DTC North, DTC South, DTC-West, DTC Central, SCN, SCC and SCR zoning districts. You may use this website to plug in an address : Parcel Viewer (nashville.gov) . From there you’ll need to review the zoning history (there may be more than one current code). Please be aware of the attached distance bill. Please note that overlays (OV) are not zoning districts and refer to only the most recent zoning district as that is what is in effect. When you've found a property zoned appropriately please let us know the address so we may verify it meets the PC requirement.

Property Location