Property Description

Listing Status

• More Listing Info

  AC:Ceiling Fan(s)	true
  AC:Heat Pump3	true
  AC:Window Unit(s)	true
  Appliances:Electric Range	true
  Appliances:Refrigerator	true
  Basement:Block4	true
  Basement:Concrete3	true
  Basement:Exterior Entry	true
  Contract Info:Foreclosure	No
  Easements:None12	true
  Expenses Include:Electric2	true
  Expenses Include:Heat	true
  Expenses Include:Taxes Real Estate	true
  Expenses Include:Utilities2	true
  Expenses Include:WaterSewer	true
  Exterior Finish:Brick4	true
  Exterior Finish:Concrete	true
  Exterior Finish:Vinyl Siding	true
  Flooring:Hardwood	true
  Flooring:Laminate	true
  Flooring:Luxury Vinyl	true
  Flooring:Tile2	true
  Flooring:Vinyl	true
  Foundation:Block6	true
  Foundation:Slab	true
  General Property Description:# Buildings	2
  General Property Description:# of Units	7.0
  General Property Description:Acres	1.28
  General Property Description:Elementary School3	Jefferson
  General Property Description:High School3	Dobyns Bennett
  General Property Description:HOA YN	No
  General Property Description:Home Warranty2	No
  General Property Description:Lot Dimensions	233M X 282M IRR & 75 X 150 IRR
  General Property Description:Middle School2	Robinson
  General Property Description:Senior Community YN3	No
  General Property Description:Total Units	7
  General Property Description:Zoning2	R 4
  Heating:Heat Pump2	true
  Heating:See Remarks10	true
  Heating:Space Heater	true
  Income and Expenses:Annual Operating Expenses	29773
  Income and Expenses:Gross Annual Income	66960
  Income and Expenses:Vacancy Rate %	14.0
  Info Available:Floor Plan	true
  Location Tax Legal Info:Block	A
  Location Tax Legal Info:City Taxes	1563.24
  Location Tax Legal Info:County Taxes	1503.22
  Location Tax Legal Info:Deed Book #	3273
  Location Tax Legal Info:Deed Page #	320
  Location Tax Legal Info:Lot #	1-
  Other Rooms:See Remarks8	true
  Other Rooms:Workshop	true
  Parking Features:Attached	true
  Parking Features:Gravel	true
  Property Condition:Below Average	true
  Remarks Misc:Directions3	From the intersection of Hwy 93/John B Dennis Hwy and Hwy 126/Memorial Blvd, travel .6 miles east towards Cooks Valley. Apartments will be on your left, adjacent to Amy Avenue.
  Remarks Misc:Public Remarks7	This investment property--including two buildings and seven units--offers immediate rental income. At full capacity, this property provides an 8.7% cap rate and enough land to further develop and add more units for additional future income. With the TDOT road improvements on Hwy 126, the approximate boundary lines already show the new property borders which will change the traffic patterns for the better after the road modifications. Between an unfinished basement and a garage workshop, you'll also have plenty of storage space on site for anything needed for property management. Features to note include a 2yr old metal roof on Building 2, a 5yr old metal roof on Building 1, some plumbing and electrical updates, remodeling in process in 2 vacant units, and current tenants with good rental history. Whether you're already an investor or just stepping into the rental market, this property offers the unique position for established income with growth potential for more. Sale includes both parcels 062C E 017.00 and 062C E 018.00. Buyer(s)/buyer(s) agents to verify all information.
  Roof:Metal3	true
  Security Features:Smoke Detector(s)3	true
  Sewer:Public Sewer	true
  Structure Type:Multi Family	true
  Style:Ranch2	true
  TopographyLot Description:Level2	true
  TopographyLot Description:Part Wooded	true
  TopographyLot Description:Rolling Slope	true
  Unit 1:# Bathrooms5	4.0
  Unit 1:# Bedrooms3	4
  Unit 1:# Units	4
  Unit 1:Monthly Rent	2700
  Unit 1:SqFt6	1420
  Unit 2:# Bathrooms4	4.0
  Unit 2:# Bedrooms4	6
  Unit 2:# Units2	3
  Unit 2:Monthly Rent2	2880
  Unit 2:SqFt5	2625
  Unit 3:# Units3	0
  Unit 4:# Units4	0
  Utilities:Electricity Connected	true
  Utilities:Natural Gas Available2	true
  Utilities:Sewer Connected	true
  Walls:Drywall	true
  Walls:Plaster	true
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

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