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1418 Mae Collins Road, Morristown, TN 37813
Property Facts
Property Type: Commercial Sale
Status: Active
Lot Acreage: 1.7
City Taxes: $0
County Taxes: $45.31
Description
Excellent investment opportunity on 1.7 acres in Morristown, TN. This income-producing property offers ash flow with significant upside potential for expansion and increased returns. The property includes 11 total lots with 7 single-wide mobile home units conveying with the sale. Currently, 4 units are rented at $725 per month each, producing $2,900 in monthly income. Three additional units are vacant and ready for updates, offering immediate value-add potential. In addition, there are 4 vacant lots that may be used for additional rental units or lot rentals, providing multiple opportunities for future development and increased income. Each of the 11 spaces is equipped with electric and septic hookups. The owner currently covers water for the property, while tenants are responsible for their own electric service. Units are approximately 2 bedrooms and 1 bathroom, with an estimated size of 14x50 (buyer to verify), and some include washer/dryer hookups and window heat/air units. This property presents a strong combination of current income and future growth potential through renovations, filling vacancies, or expanding the number of units on site. All information is to be verified by the buyer and buyer's agent.
Features & Amenities
- Central Heating
- Electric Heating
- Window Unit(s)
- Cleared
- County Road
- Finished Lot(s)
- Infrastructure In
- Metal Roof
- Metal Siding Exterior
- Shingle Roof
- Vinyl Siding Exterior
- 220 Volts
- Aerial
- Average Condition
- Below Average Condition
- Electricity Available
- Fixer Condition
- Mobile/Trailer Park
- Public Water
- Septic Tank Sewer
- Water Connected
