
Nashville, TN 37203
This historic condo at Spence Manor presents a High-Potential Investment Opportunity with a List Price of $285,000—positioned slightly above the $275,905 Fair Market Value. While requiring cosmetic updates to its Condition Rating of 4, the unit offers rare non-owner occupied STR eligibility in a high-demand tourism corridor. Featuring a panoramic skyline view, guitar-shaped pool, and utility-inclusive HOA, this asset is primed for income generation. It is an ideal acquisition for Buy-and-Hold Investors or Short-Term Rental Operators seeking a historic Nashville footprint.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 11 Music Sq E 508 Subject | $285,000* List Price | 1 | 1 | 750 | $368 | - |
A 1803 Broadway 120 Sold | $329,000 | 1 | 1 | 851 | $387 | 0.2 mi |
B 1803 Broadway 513 Sold | $285,000 | 1 | 1 | 620 | $460 | 0.2 mi |
C 1808 State St 113 Sold | $300,000 | 2 | 2 | 800 | $375 | 0.5 mi |
D 600 12th Ave S 607 Sold | $319,900 | 1 | 1 | 660 | $485 | 0.5 mi |
E 1803 Broadway 112 Active | $315,000 List Price | 1 | 1 | 820 | $384 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1974 and converted in 1986, the unit features significantly dated interior finishes including pink carpeting, mirrored walls, and popcorn ceilings likely exceeding 20 years in age. While the property is functional with recent window replacements and is move-in ready for STR use, it requires cosmetic updates to the flooring and surfaces to meet modern standards.
The property is eligible for non-owner occupied short-term rental (STR) permits, offering a rare and lucrative investment opportunity in Nashville's high-demand tourism market.
Located in the historic Spence Manor, this unit offers immense prestige and unique marketing appeal, featuring a legacy of celebrity residents and the famous guitar-shaped swimming pool.
The monthly HOA fee covers electric, water, sewer, and trash, providing predictable overhead costs and simplified expense management for investors and residents.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =871, other record lot size in square feet = 710.
At $805 per month, the association fees are significantly high for a 750-square-foot one-bedroom unit, which may impact the net cash flow for potential investors.
Built in 1974, the building requires ongoing capital improvements, as evidenced by the current elevator replacement and the recent necessity for full window updates.
Step into Nashville’s history at the iconic Spence Manor, located on world-famous Music Row with this non-owner occupied STR eligible condo. Originally built as a luxury hotel, Spence Manor welcomed music legends including Dolly Parton & Elvis Presley and countless artists who shaped the city’s cultural identity. It is widely considered the music industry's first luxury "five-diamond" style hotel in the area and was converted from a hotel into 44 private condominium units in 1986. Today, it remains one of Nashville’s most recognizable addresses—home to the famed guitar-shaped swimming pool and is steeped in country music history. Beyond its unbeatable location, this condo presents a prime investment opportunity. The unit is eligible for short-term rental permits, making it an ideal property for those looking to generate income while also enjoying personal use. Whether you envision a vibrant Airbnb listing, a second home for visiting Music City, or a long-term rental, the potential here is unmatched. Enjoy secure building access, on-site amenities, and the prestige of owning a piece of Nashville history. HOA includes electric, water, sewer and trash. Windows are brand new, installed 8/26/2026. Closet off the primary bedroom was once used as a recording space with carpet soundproofing on the walls. Seller is willing to sell fully furnished. Main elevator is being replaced in November and already has been collected for through the HOA. Condo comes with 1 parking permit for the garage under the building. Additional parking passes can be purchased from the HOA for a small fee.
No exterior & parking available.
Grades K-4 • 1.4 mi
Grades 5-8 • 2.3 mi
Grades 9-12 • 3.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 1.0 | 2.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 750 | 1,009.207 |
| Lot Size | 871 | 871 |
| Price | $285.0K | $339.9K |
| Price per sq ft | $380 | $344 |
| Built year | 1974 | 2007 |
| HOA | $805 | $329 |
| Days on market | 14 | 91 |
Aug 26, 2026
$285,000
Initial Listing
May 23, 1989
$39,000
Public Record