638 Broad ST Lexington, TN 38351
4 Beds
2 Baths
2,239 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,239 sqft
Price per Sqft $156
MLS Listing ID 2605148
Bedrooms 4
Full Baths 1
Year Built 1962
Annual Tax Amount $1,059
Lot Size 2.470 Acres
Acres 2.47
Lot Dimensions 150X150, 425x184x441x117,115x114x115x114
Property Sub-Type Duplex
Source Central West Tennessee Association of REALTORS®
Property Description
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.
Location
State TN
County Henderson
Area 2.47
Zoning Residential and Commercial
Direction From intersection of Hwy 412 and Hwy 22 S at main red light on Hwy 412, take Hwy 22 South, Go past Post office and look for property sign on the right.
Rooms
Other Rooms Other
Primary Bedroom Level 1
Interior
Heating Floor Furnace
Cooling Window Unit(s)
Flooring Laminate, Vinyl
Appliance Electric Cooktop, Refrigerator
Heat Source Floor Furnace
Laundry Main Level
Exterior
Parking Features Garage Faces Front, Open, Workshop in Garage
Garage Spaces 1.0
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Shingle
Street Surface Asphalt
Accessibility Accessible Approach with Ramp
Porch Covered, Front Porch
Road Frontage Highway
Total Parking Spaces 1
Building
Lot Description Level, Rolling Slope, Wooded
Story 1
Entry Level One and One Half
Foundation Block
Sewer Public Sewer
Water Public
Level or Stories 1
New Construction No
Schools
Elementary Schools Lexington School District
High Schools Lexington School District
Others
Tax ID 091A A 013.00, 012.00 & 014.00
Special Listing Condition Standard