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717 Spence Ln, Nashville, Tennessee 37217

1400

Bedrooms

Utilities Included

Yes

Bathrooms

Furnished

Yes

Available to Lease on

ASAP

Property Type

Apartment

SQFT

1636

Talk to STR Exchange

Key metrics

Rent

1400

Monthly Estimated Profit^?

1125

Annual Estimated Profit^?

13500

Acquisition Fee

2,500 for one (price varies on bulk purchasing, see description)

Security Deposit

1400

Average Daily Rate

121

Occupancy

60%

Annual Revenue

30300

Key Features

Property Description Listing

Property Description: Apartments at 717 Spence Ln, Nashville, TN 37217 offers fully furnished, turnkey studio apartments located just 5 minutes (one exit) from Nashville International Airport and 7 minutes from downtown Nashville. These hotel-style units provide a hassle-free living experience with all-inclusive rent covering furniture, electricity, high-speed internet, TV, water, sewer, trash, and free onsite parking. Residents enjoy resort-style amenities including a 24/7 fitness center, a clubhouse game room, and an on-site restaurant and pub.

Investment Highlights

Studio Apartments: Rent: $1,400 (All-in)
Projected Revenue: ~$30,300 per unit annually
Projected Profit: ~$13,500 per unit annually (after rent)
Unit Mix: 120 Studios available; 50 units currently setup with two beds.
Turnkey: Fully furnished with utilities and internet included.

Apartment Features

Fully furnished studio layout (~275 sq ft)
Utilities included (Electric, Water, Internet, TV)
Air conditioning
High-speed internet ready
Flexible bed configurations (1 or 2 beds)

Community Amenities

Resort-style pool and courtyard with grill
24/7 2,000 sq ft fitness center
Clubhouse game room
On-site restaurant/pub ("The Lost Paddy")
On-site entertainment theater, bar, and live shows
Laundry facilities (On-site)
Free on-site parking

Nearby Attractions & Distances

Nashville International Airport (BNA): 5 minutes (1 exit)
Downtown Nashville: 7 minutes
Nissan Stadium: ~10 minutes
Bridgestone Arena: ~10 minutes

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 per property (unfurnished).
* $2,000 per property (fully furnished).
* 20–49 Properties:
* $1,000 per property (unfurnished).
* $1,500 per property (fully furnished).
* 50+ Properties:
* $500 per property (unfurnished).
* $700 per property (fully furnished).

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 areas2 4. 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 property1 2.To operate a non-owner occupied STR in Nashville:

Obtain a permit from the Metro Codes Department before listing the property4.
Ensure the property is in an eligible zoning district as listed in the District Land Use Table2 4.
Provide personal contact information for the owner and a responsible party residing within 25 miles of the property1 3.
Submit proof of insurance, proof of written notification to adjacent properties, and a statement that the STR does not violate homeowners association agreements1.
Pay applicable taxes, including business, sales, and hotel occupancy taxes2 4.
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 information2 4.

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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.

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Property Description Listing

STR Regulations Summary:

View Regulations Here

Property Location