Fourplex Townhouses for Sale

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30578851
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 8 Units
Building Size (RSF): 7,040 SF
Gross Building Area: See Agent
Sale Price: $750,000
Unit Price: $93,750 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/27/2020

Overview / Comments

Sevierville Apartments (8 units) offers a stabilized income-generating property in a high demand area. Built in 1989, the complex features 2 buildings with fourplax townhouses. Each building contains 4 units two level design with 2 BR and 1 1/2BA with approximately 880 sq ft per unit. The apartments is conveniently located near the mega center of tourism coming to see the Smoky Mtns, restaurants, and shopping. Sevier County not only has a strong job base in tourism but also has a successful community college and many long-tenured industrial employers. Fully rented, units have stoves, refrigerators, dishwashers. 4 units have washer/dryer connections. Residents pay all utilities including water & City picks up trash. Each unit currently rents on average of $725/MO.

Units could use some updating which would allow for an increase in rent. The lot size is 67,518 sq ft and has plats to build additional units, if desired.

Additional Details

Nearest MSA: Sevierville
County: Sevier
Tax ID/APN: 078049H D 02300
Highway Access: Hwy 411
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1989
Parking Type: Other
Heat Type: Electricity
Heat Source: Central, Heat Pump
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 17,840 29,502
Median Age: 38.98 39.07
Households: 7,152 11,630
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