Property Description

Listing Status

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  AC:Ceiling Fan(s)	true
  AC:Heat Pump3	true
  AC:Window Unit(s)	true
  Business Type:Residential2	true
  Contract Info:Foreclosure	No
  Development Status:Finished Lot(s)	true
  Development Status:Raw Land	true
  Easements:None12	true
  Electric Service:220 Volts	true
  Exterior Finish:Brick4	true
  Exterior Finish:Concrete	true
  Exterior Finish:Vinyl Siding	true
  General Property Description:# Parking Spaces	15
  General Property Description:# Restrooms	8
  General Property Description:Acres	1.28
  General Property Description:Annual Lease	66960.0
  General Property Description:HOA YN	No
  General Property Description:Lease	No
  General Property Description:Lot Size2	233M X 282M IRR & 75 X 150 IRR
  General Property Description:Price LeaseSqFt	16.55
  General Property Description:Road Frontage Length	85
  General Property Description:Total SqFt Finished	4045.0
  General Property Description:Total SqFt Unfinished	1634.0
  General Property Description:Zoning2	R 4
  Heating:Heat Pump2	true
  Heating:Space Heater	true
  Heating:Wall Furnace	true
  Info Available:Aerial	true
  Info Available:Floor Plan	true
  Info Available:Leases2	true
  Info Available:Other29	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 Equipment:Basement4	true
  Other Equipment:Dumpster	true
  Other Equipment:Exterior Lights	true
  Other Equipment:Overhead Doors	true
  Other Equipment:Range2	true
  Other Equipment:Refrigerator2	true
  Other Equipment:See Remarks38	true
  Other Equipment:Smoke Detector(s)2	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.
  Restrictions:See Remarks34	true
  Road Access:City Street	true
  Roof:Metal3	true
  Sale Includes:Fee Simple	true
  Sewer:Public Sewer	true
  Utilities:Electricity Connected	true
  Utilities:Natural Gas Available2	true
  Utilities:Sewer Connected	true
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

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