$12,200,000
$14,600,000
16.4%For more information regarding the value of a property, please contact us for a free consultation.
89,984 SqFt
SOLD DATE : 08/30/2024
Key Details
Sold Price $12,200,000
Property Type Commercial
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 89,984 sqft
Price per Sqft $135
MLS Listing ID 301146
Sold Date 08/30/24
HOA Y/N No
Year Built 2019
Annual Tax Amount $6,485
Tax Year 2023
Lot Size 8.480 Acres
Acres 8.48
Property Sub-Type Multi Family
Land Area 89984
Property Description
67-unit multifamily development consisting of 25 single-family houses, one single-level duplex, and 20 two-level duplexes. Well maintained and visually appealing. Stable income stream with consistently high occupancy. Some below market rents present excellent value-added opportunity. Utility water and sewer included in tenant's monthly payments. Many units are pet-friendly. Unencumbered with management agreement. Owner-managed.
Location
State TN
County Hamblen
Zoning R-2
Direction Located within the city limits and about 3 miles west of downtown Morristown, TN. The surrounding area consists of commercial, residential, and multifamily development.
Exterior
Exterior Feature Lighting
Parking Features On Site, Paved
Utilities Available Electricity Available, Water Available
Street Surface Paved
Road Frontage City Street
Building
Story 2
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash, Conventional, Fee Simple Improved
Listing Terms Cash, Conventional, Fee Simple Improved
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