The Trinity Lofts has seen extensive renovations, with the current owner investing $4.545M into the project, effectively delivering a brand new product. With Downtown rents are in excess of $2,200/mo. on some Studio and 1-BR floorplans, Trinity Lofts provides an affordable option to the rental community, with Class-A finishes, proximity to major employment hubs, and thoroughfares. The microeconomics of This submarket boasts attractive metrics: (1) Within a 3.0-mile radius, there are over 79,844 employees who work in the Service/Production & Manufacturing industries, & (2) have an average HHI of over $75,159. With the asset’s strategic location, walkability, demographics, and access to major thoroughfares, it is poised for longer success. Trinity Lofts offers the perfect balance of stability and growth in the current dynamic real estate market.
With Nashville’s continued economic/population growth, rental options have become unaffordable to a lot of working-class citizens. With this in mind, the microunit concept has become increasingly popular – even in Southeastern markets such as Nashville. Micro-units accomplish a few things:
- Affordability: Delivers an efficient, affordable product to single tenants or couples who live a minimalistic lifestyle, and who don’t want to spend over $2k/mo. living Downtown.
- Location: While they’re sacrificing square footage, residents are still minutes from major retailers/ demand drivers, and typically less than a 10-minute drive from the core/downtown.
- Costs: Due to smaller living spaces, landlords can typically benefit from a lesser utility bill every month.
- Vacancy Periods: Due to the asset’s price point, desirable location, and overall size of units, micro-unit deals typically experience shorter vacancy periods, ensuring a steadier stream of income for operators.
