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Hibiscus 6 138 Hibiscus Dr 6 Unit Apartment Building $1,324,376 CAD ($220,729 CAD/Unit) 5.80% Cap Rate Ashland City, TN 37015
Investment Highlights
- Stabilized and well maintained
- Spacious units with W/D hookups
- Light value add opportunity
Executive Summary
Hibiscus 6 is a 6-unit mutifamily property located at 138 Hibiscus Drive in Ashland City. Originally built in 1988 and recently renovated, the property consists of a single building totaling approximately 5,524 square feet. The asset features six 2-bedroom, 1-bath units, each averaging approximately 921 square feet, with functional layouts and in-unit laundry hookups that appeal to today's renters. Opportunity for light turnovers to press market rents as well as implementing RUBS system to recoup owner paid expenses.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,324,376 CAD | Building Class | B |
| Price Per Unit | $220,729 CAD | Lot Size | 0.75 AC |
| Sale Type | Investment | Building Size | 5,524 SF |
| Cap Rate | 5.80% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1988/2025 |
| Property Subtype | Apartment | Parking Ratio | 2/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R - Residential | ||
| Price | $1,324,376 CAD |
| Price Per Unit | $220,729 CAD |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.75 AC |
| Building Size | 5,524 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1988/2025 |
| Parking Ratio | 2/1,000 SF |
| Zoning | R - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Refrigerator
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $1,847 CAD | 921 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 055K-F-017.00 | Total Assessment | $258,462 CAD (2025) |
| Land Assessment | $22,863 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $235,600 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
055K-F-017.00
Land Assessment
$22,863 CAD (2025)
Improvements Assessment
$235,600 CAD (2025)
Total Assessment
$258,462 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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Hibiscus 6 | 138 Hibiscus Dr
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