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Listed by James Griffin • Griffin Home Group
$ 525,000
Est. payment /mo
Price Dropped by $25K
1418 Mae Collins RD Morristown, TN 37813
8 Beds
4 Baths
74,052 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 74,052 sqft
Price per Sqft $7
MLS Listing ID 706110
Bedrooms 8
Full Baths 4
Originating Board Lakeway Area Association of REALTORS®
Year Built 2020
Annual Tax Amount $45
Lot Size 1.700 Acres
Acres 1.7
Lot Dimensions 1.7
Property Sub-Type Multi Family
Property Description
An excellent investment opportunity for the entrepreneur seeking a cash flow property! Situated on 1.7 acres in Morristown, this property features 11 available lots, currently housing 7 single-wide mobile homes, with all homes conveying with the purchase.
Home Details: 2 bedrooms, 1 bathroom Approximate size: 14x40 (buyer should confirm exact dimensions) Some units have washer/dryer hookups Window heat/air units
Rental Income:
Current rent per home: $725/month Total current rent for 7 homes: $5,075/month
Utility Information: Property owner covers water for all homes Tenants pay for individual electric service Each of the 11 spaces has electric and septic hookups available
Additional Details: 1 home is undergoing a remodel, offering the potential for increased rent Significant upside potential for development of the remaining 4 lots
This property is a promising investment with consistent rental income and the opportunity to add value through future development.
IT IS THE SOLE RESPONSIBILITY OF BUYER AND BUYER AGENT TO VERIFY ALL INFORMATION CONTAINED HEREIN
Home Details: 2 bedrooms, 1 bathroom Approximate size: 14x40 (buyer should confirm exact dimensions) Some units have washer/dryer hookups Window heat/air units
Rental Income:
Current rent per home: $725/month Total current rent for 7 homes: $5,075/month
Utility Information: Property owner covers water for all homes Tenants pay for individual electric service Each of the 11 spaces has electric and septic hookups available
Additional Details: 1 home is undergoing a remodel, offering the potential for increased rent Significant upside potential for development of the remaining 4 lots
This property is a promising investment with consistent rental income and the opportunity to add value through future development.
IT IS THE SOLE RESPONSIBILITY OF BUYER AND BUYER AGENT TO VERIFY ALL INFORMATION CONTAINED HEREIN
Location
State TN
County Hamblen
Direction Head south on US-25 E S toward Wilson Hale Rd Turn right onto Wilson Hale Rd Turn right onto TN-343 N Turn left onto Pinebrook Rd Turn right onto Sulphur Springs Rd Turn right onto Mae Collins Rd Turn left Destination will be on the right
Others
Senior Community No
Tax ID 049D B 010.00
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