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514 S S Liberty Rd

Morristown, TN 37813
  • $3,650,000
  • STATUS: Active
  • ON SITE: 116 Days
  • ID#: 1207824
UPDATED: 46 min ago
$3,650,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
2001
County:
Area:

School Ratings & Info

Description

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.

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© 2023 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Patti Baesch | Realty Executives Associates, Inc.. Information is deemed reliable but is not guaranteed accurate by the MLS or Patti Baesch | Realty Executives Associates, Inc.. Data last updated: 2023-01-28T13:56:45.903.
www.easttnhomesearch.com/homes/133605567
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514 S S Liberty Rd Morristown, TN 37813

  • Price: $3,650,000
  • Status: Active
  • On Site: 116 Days
  • Updated: 46 min ago
  • ID#: 1207824
0
Beds
0
Baths
0
½ Baths
N/A
Acres
2001
Built
County:
Hamblen
Area:
Morristown
Property Description
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.
Exterior Features

Construction Frame - Brick Driveway Paved Garage Parking On Premise Parking Lot Size 5.94 Acres

Interior Features

Cooling Central Cooling Floors Laminate Fuel Electric Heat Central Other Rooms Mstr Bdrm Main Level

Property Features

Auction YN No City County Code City Limits City Taxes 11726.96 County Taxes 14742.46 Lease Information 1Yr - Mo To Mo Multifamily Sub Type ApartmentFive Or Six Plex New Financing CashConventionalNew Loan Property Status N/A Pud YN No Sale Includes Building And Land Total Tax 26469.42 Type Of Units 1 Bedroom Unit2 Bedroom Unit Utilities Mo Avg 375.00

Listing information © 2023 Knoxville Area Association of REALTORS®, Inc.
Listing provided courtesy of Svn I Wood Properties: .


© 2023 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Patti Baesch | Realty Executives Associates, Inc.. Information is deemed reliable but is not guaranteed accurate by the MLS or Patti Baesch | Realty Executives Associates, Inc.. Data last updated: 2023-01-28T13:56:45.903.
 
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Patti Baesch | Realty Executives Associates, Inc.
1213 W Lamar Alexander Parkway
Maryville TN, 37801