Property photo 1
3,600 sqft

$3,200,000

405 Granbury St, Franklin TN, 37064

Price per sqft$888.89
Built in1932
Property size3,600 sqft
Property typeResidential
Courtesy of Cobalt Premier Properties, Gary Loebsack Listing Contact: 6154307771

Overview

Active

Listed Sep 9, 2026

Updated 4 weeks ago

PROPERTY OVERVIEW An exceptional, rarely available multi-family portfolio is now on the market in the highly coveted Historic Downtown Franklin District. This premier offering features four distinct duplexes (eight units total), presenting an incredible opportunity for savvy investors, equity funds, developers, or multi-generational buyers to secure premium real estate in one of the nation's most robust rental and resale markets. Current units rent quickly at around $1,200/month and have delivered a strong, stable history of high occupancy and consistent rental growth. Situated just blocks from award-winning Main Street, residents enjoy seamless access to Franklin's world-class boutique shopping, chef-driven dining, historic architecture, and vibrant community festivals — with a quick commute via I-65 to the Cool Springs commercial corridor, Brentwood, and downtown Nashville. THREE PATHS TO VALUE The property is grandfathered for its current 8-unit multifamily use, but sits on land zoned R6 — giving a buyer a rare choice of strategies, each independently viable: 1. Hold and Optimize — Stabilized Income • Continue as an 8-unit rental portfolio with a proven occupancy and rent-growth history 2. Redevelop — 8 Luxury Condominiums • Architectural design work already underway (~$60,000 invested), with a 1.5-story concept in hand • City of Franklin has engaged constructively on new designs • Downtown Franklin condo demand is validated at the high end: Multiple high end condo projects are going to market at over $1000/sft 3. Subdivide — 4 Single-Family R6 Lots • Underlying R6 zoning supports a clean subdivision into four individual single-family homesites The property is a brief walk (or short golf-cart ride) from boutique cafes, public parks, and live music venues in one of the nation's most robust and supply-constrained historic rental and resale markets. This is a foundational real estate asset in a location that cannot be replicated.

$21,290/mo

Est. mortgage payment based on a $3,200,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Other Property Details

Taxes
$11,251
Tax Frequency
Annually
55+/Senior Community
No

Listings courtesy of Middle Tennessee Regional Multiple Listing Service as distributed by MLS GRID

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Jimmy Kitchen shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Properties displayed may be listed or sold by various participants in the MLS.

Based on information submitted to the MLS GRID as of 3:06 AM UTC on 9/10/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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