Nashville’s scorching actual property market has made it one of many prime cities for aggressive housing costs.
But one specific residence might have some folks scratching their heads.
A small mobile home situated within the Music City has been sold for a whopping $1.5 million, based on the local Fox station, WKRN.
To evaluate, when it was final sold again in 2007, the worth was simply $135,000.
The mobile home solely spans about 528 sq. toes.
But it seems there was greater than meets the attention past what the itemizing initially had described — and it wasn’t precisely purchased for the mobile home, however fairly the acreage.
“Odds are that the listing, or whatever web service that pulled that data, only pulled that one parcel but gave the total price,” Ryan Turbeville of Ashton Real Estate Group advised WKRN. “With that amount of acreage, they could build 40-50 townhomes and either sell them or rent them out as short-term rentals.”
The itemizing initially said that the mobile home was solely located on .24 acres however, genuinely, it’s made up of 4 parcels, totaling about 1.5 acres.
The new homeowners are listed beneath the pseudonym 1110 Baptist Partners, who additionally concurrently bought one other plot of land within the space for solely $112,000, property information present.
“With the River North development finally starting up and Oracle announcing itself as the main anchor tenant, all of the neighborhoods surrounding it are going to develop,” Turbeville added, referring to the tech company. “How long that takes is anyone’s guess — probably five to 10 years before it spreads out.”