29 Units - Morristown, TN
Multi-Family
for Sale
| Catylist Listing ID: |
30819436 |
| Property Subtypes: |
Duplex/Fourplex
|
| Number of Units: |
29 Units |
| Building Size (RSF): |
29,812 SF |
| Gross Building Area: |
See Agent |
| Sale Price: |
$3,450,000 |
| Unit Price: |
$118,965.52 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller, Purchase Money Mortgage |
| Cap Rate: |
Undisclosed |
| Last Updated: |
3/13/2023 |
Overview / Comments
This is value-add opportunity located just minutes from downtown Morristown. This property has historically ran as a 55+ community but does not have to remain a 55+ community under new ownership. This offering is not only well-positioned for robust operational upside with professional property management, but also will afford future ownership the opportunity to implement a value-add strategy across classic units.
This property consists of 7 buildings, totaling 29 units and a community center located at 514 S Liberty Hill Rd Morristown, TN 37813. Based upon comparable properties directly next to the property, investors can underwrite to an average of
$200+/month rental by moving rents to what is market for the area and further increase with light renovations.
|
Additional Details
| Nearest MSA: |
Morristown |
| County: |
Hamblen |
| Tax ID/APN: |
032034JD00200 |
| Percent Occupied: |
95% |
| Property Condition: |
Excellent |
| Number of Stories: |
1 |
| Construction/Siding: |
Brick |
| Parking Type: |
Surface |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
9,048 |
27,872 |
43,696 |
| Median Age: |
36.43 |
36.6 |
38.68 |
| Households: |
3,608 |
10,969 |
17,194 |
|
© Copyright 2001-2023 Moody's. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither Knoxville Area Association of REALTORS® nor
Moody's assume any liability for errors or omissions.
|
