1010 Carolyn Ave, Nashville, TN 37216, Nashville, 37216 - 0 bed, 0 bath
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Nashville, TN 37216
This Quadruplex Asset presents a High-Potential Investment Opportunity with a List Price of $899,900—positioned well above the $857,609 Fair Market Value by -4%. While the property requires capital for modernization, its Condition Rating of 4 and long-term ownership history provide a stable foundation for value-add strategies. Featuring a private deck and significant rental upside, this asset is well-suited for Buy-and-Hold Investors or Portfolio Managers seeking to capitalize on below-market rents in the highly desirable East Hill neighborhood.
Property is moderate renovation needed.
Built in 1950, the property shows recent cosmetic 'lipstick' updates like LVP flooring and fresh paint. However, the kitchens remain dated with painted original cabinetry and older hardware. The listing's emphasis on 'value-add' and 'below market rents' confirms that while functional, the systems and interiors are aged (15-30y+ style) and require modernization.
Situated in the highly desirable East Hill neighborhood of Nashville, this rare quadruplex offers long-term stability and high demand in a sought-after rental market.
With current rental rates performing below market value, the property presents a substantial value-add opportunity to increase net operating income through modern updates and lease adjustments.
Held by the same family for over 30 years, the property has been well-maintained, offering a level of care and stability often missing in multi-family investment assets.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2550, other record living area = 2034.
The landlord is responsible for all utilities on three of the four units, which increases monthly overhead and exposes the owner to fluctuating utility costs.
The requirement of an accepted offer prior to any unit showings creates a significant barrier for buyer due diligence and may limit the initial pool of interested investors.
First time on the market in over 30 years, this family-owned 4-unit complex is a rare investment opportunity in the highly desirable East Hill neighborhood. The property has been well maintained, with long-term ownership and strong potential for value-add improvements. Current rental rates are below market, offering a great opportunity for increased income with updates and adjustments. Whether you're looking to expand your portfolio or secure a multi-family asset in a prime location, this property presents significant upside potential. Unit A & B are the same floor plan with their own washer & dryers. Units C & D have a shared laundry area. Landlord pays all utilities on all units with the exception of unit B. The roof was replaced in 2015, HVAC units in 2018, windows in 2015, and water heater in 2025, (these are approx ages). Please do not approach the property or disturb tenants. Call listing agent for showing information and approval. All offers must include proof of funds.
No exterior & parking available.
Grades PK-4 • 0.5 mi
Grades 5-8 • 2.4 mi
Grades 9-12 • 2.5 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,550 | 2,981 | 50% |
| Lot Size | - | - | 50% |
| Price | $875.0K | $339.9K | 75% |
| Price per sq ft | $343 | $172 | 50% |
| Built year | 1950 | 1951 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 52 | 612 | 25% |
May 16, 2026
$875,000
$899,900
-3% Price Drop
Initial Listing
Apr 29, 2026
$899,900
Initial Listing
Apr 1, 1994
$34,000
Public Record
Oct 12, 1993
$34,289
Public Record