18 Units - Rogersville, TN
Multi-Family
for Sale
| Catylist Listing ID: |
30840163 |
| Property Subtypes: |
Low-Rise/Garden
|
| Number of Units: |
18 Units |
| Building Size (RSF): |
10,168 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.56 Acres
|
| Sale Price: |
$1,100,000 |
| Unit Price: |
$61,111.11 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Average Occupancy Rate: |
100 |
| Last Updated: |
5/25/2023 |
Overview / Comments
|
This 18-unit apartment complex is situated in a peaceful location in Rogersville, TN and boasts below-market rents estimated to be 20-30% lower than the average. The complex comprises two buildings: Building 1 is a 10-unit motel-style building with a 5 over 5 configuration, and Building 2 is an 8-unit building with a 4 over 4 in a quad layout. Recent upgrades include a new dumpster, two new water heaters, new floors and paint in 6-8 units, and new AC units in 3 units. Additionally, the on-site laundry room has the potential to generate an additional revenue stream of around $150/mo when well-maintained. Conveniently located near several restaurants, shopping centers, and other amenities, the complex is an excellent investment opportunity with tremendous potential for generating steady rental income. Building 1 includes two units with a 2 bedroom conversion, providing ample living space for residents. The parking lot was repaved in 2018, providing convenience and ease of access for residents and guests. Overall, this apartment complex offers a promising investment opportunity in a great location with a strong potential for stable rental income.
|
Additional Details
| Nearest MSA: |
Kingsport-Bristol |
| County: |
Hawkins |
| Tax ID/APN: |
037100E C 00700 |
| Percent Occupied: |
100% |
| Total Number of Buildings: |
2 |
| Property Condition: |
Good |
| Number of Stories: |
2 |
| Year Built: |
1978 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,999 |
10,125 |
15,653 |
| Median Age: |
42.17 |
41.74 |
42.11 |
| Households: |
1,279 |
4,171 |
6,360 |
|
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The information presented herein is provided as is, without warranty of any kind.
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