Basic Information:

Bedrooms: 0

Full Bathrooms: 0

Half Bathrooms: 0

Type: Multi Family

Sub Type: Multi Family

MLS Number: 9995031

Lot Acreage: 1.28000

Living Area: 0

Year Built:1947

Elementary School: Jefferson

Middle School: Robinson

High School: Dobyns Bennett

Public Remarks: 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.

Listing Courtesy:CENTURY 21 Legacy Fort Henry

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