MULTI-FAMILY

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30556336
Property Subtypes: Duplex/Fourplex, Other
Status: Pending/Contingent
Number of Units: 5 Units
Building Size (RSF): 4,725 SF
Gross Building Area: See Agent
Sale Price: $169,900
Unit Price: $33,980 Per Unit
Property Use Type: Investment
Building Name: Twin Springs Apartments / Other
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/14/2020

Overview / Comments

Sale includes 2 parcels. One with a 5 unit Apartment Bldg with ability to expand with lower units on main level that have been used for storage and could be renovated for more units. The Apartment Bldg has a Washer and Dryer Facility that has ability for more income. The units we’re getting $500.00 per. All units are 2 BR, 1BA with Refrigerators and Stoves in each one. Separate Electric and Water Meters. The other Parcel has a Mobile Home on it that is bringing in $200.00 month lot rent. There are two more lots that could possibly be rented. Close to Newport, Cosby, Gatlinburg, Smokey Mtns and Interstate 40. This is an estate sale and all units in apartment bldg. have been vacated for ease of transfer to the next investor who will have their own vision in this income producing potential property. Call today for a showing.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $802 (Annual)
Potential Rental Income $30,000 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Newport
County: Cocke
Submarket Type: Suburban
Taxing Authority: Cocke County
Tax ID/APN: 015073 03604
Zoning: COMMERCIAL
Percent Occupied: 0%
Property Located Between: Newport and Gatlinburg
Highway Access: Interstate 40 within 5 miles.
Airports: Knoxville, Morristown, Asheville
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 2
Year Built: 1940
Roof Type: Gable
Construction/Siding: Wood Siding
Exterior Description: Creek is on 2 sides of Bldg.
Parking Ratio: 1 (per 1000 SF)
Parking Type: Other
Parking Description: Gravel Parking Lot
Total Parking Spaces: 10
Laundry: Shared
Heat Type: Electricity
Heat Source: Wall Units, Other
Fuel: Electric
Air Conditioning: Window Unit, Other
Internet Access: Satellite, Fiber Optic, Other
Lot Frontage: 165
Lot Depth: 309
Water Service: Municipal
Sewer Type: Septic
Legal Description: Sale includes 2 parcels. One with a 5 unit Apartment Bldg with ability to expand with lower units on main level that have been used for storage and could be renovated for more units. The Apartment Bldg has a Washer and Dryer Facility that has ability for more income. The units we’re getting $500.00 per. All units are 2 BR, 1BA with Refrigerators and Stoves in each one. Separate Electric and Water Meters. The other Parcel has a Mobile Home on it that is bringing in $200.00 month lot rent. There are two more lots that could possibly be rented. Close to Newport, Cosby, Gatlinburg, Smokey Mtns and Interstate 40. This is an estate sale and all units in apartment bldg. have been vacated for ease of transfer to the next investor who will have their own vision in this income producing potential property. Call today for a showing.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,253 4,648 18,499
Median Age: 45.28 43.19 42.26
Households: 513 1,930 7,677

Contact

Photograph of Listing Agent

Burlin Allen

Re/Max Between the Lakes
KAAR CIE Member
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