Property Description

Listing Status

• More Listing Info

  AC:Heat Pump3	true
  AC:Window Unit(s)	true
  Appliances:Range	true
  Appliances:Refrigerator	true
  Basement:Exterior Entry	true
  Basement:Finished2	true
  Basement:Walk-Out Access	true
  Contract Info:Foreclosure	No
  Easements:None12	true
  Expenses Include:WaterSewer	true
  Exterior Finish:Vinyl Siding	true
  Foundation:Block6	true
  General Property Description:# Buildings	1
  General Property Description:# of Units	3.0
  General Property Description:Acres	0.23
  General Property Description:Elementary School3	Hillcrest
  General Property Description:High School3	East High
  General Property Description:HOA YN	No
  General Property Description:Lot Dimensions	68'x149'
  General Property Description:Middle School2	Meadowview
  General Property Description:Total Units	3
  General Property Description:Zoning2	L1
  Heating:Heat Pump2	true
  Income and Expenses:Annual Operating Expenses	3071
  Income and Expenses:Annual Utility Expenses	1364
  Income and Expenses:Gross Annual Income	27600
  Income and Expenses:Net Annual Income	23165
  Laundry Features:Electric Dryer Hookup	true
  Laundry Features:Washer Hookup	true
  Location Tax Legal Info:City Taxes	450.8
  Location Tax Legal Info:County Taxes	566.72
  Location Tax Legal Info:Deed Book #	1677
  Location Tax Legal Info:Deed Page #	216
  Parking Features:Gravel	true
  Possession:See Remarks17	true
  Remarks Misc:Directions3	From Andrew Johnson Hwy turn onto Liberty Hill Rd, Turn Left onto E Main St, Property on Left
  Remarks Misc:Public Remarks2	Don't miss this fantastic opportunity to expand your investment portfolio with this fully leased, income-producing triplex in the heart of Morristown! This property features three rental units, including two side-by-side main-level units and a basement efficiency, all currently occupied under yearly lease agreements. With a gross income of $27,600 per year, an estimated net income of $23,165 and an 10.8% cap rate, this property offers a strong return on investment. Recent updates include a newly renovated bathroom in Unit B, completed within the last month. Each unit benefits from 1-2 off-street parking spaces, adding to tenant convenience. Situated in a prime location, this property provides easy access to shopping, dining, and major roadways. Additionally, the neighboring rental property at 1002/1004 E Main St is also available for purchase, presenting an incredible opportunity to acquire multiple income-producing units in one area. Don't let this investment slip away—schedule your showing today!
  Roof:Shingle	true
  Sewer:Public Sewer	true
  Structure Type:Triplex	true
  Style:Victorian2	true
  TopographyLot Description:Cleared	true
  TopographyLot Description:Level2	true
  TopographyLot Description:Sloped	true
  Unit 1:# Bathrooms5	1.0
  Unit 1:# Bedrooms3	2
  Unit 1:# Half Baths	1.0
  Unit 1:Monthly Rent	1000
  Unit 1:SqFt6	840
  Unit 2:# Bathrooms4	1.0
  Unit 2:# Bedrooms4	1
  Unit 2:Monthly Rent2	650
  Unit 2:SqFt5	840
  Unit 3:# Bathrooms3	1.0
  Unit 3:# Bedrooms5	1
  Unit 3:# Rooms2	1
  Unit 3:Monthly Rent3	650
  Unit 3:SqFt2	672
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

Listing Courtesy: