$9,000,000
$9,300,000
3.2%For more information regarding the value of a property, please contact us for a free consultation.
77,202 SqFt
SOLD DATE : 08/01/2024
Key Details
Sold Price $9,000,000
Property Type Commercial
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 77,202 sqft
Price per Sqft $116
MLS Listing ID 301135
Sold Date 08/01/24
HOA Y/N No
Year Built 2018
Annual Tax Amount $1,669
Tax Year 2023
Lot Size 5.710 Acres
Acres 5.71
Property Sub-Type Multi Family
Land Area 77202
Property Description
62-unit multifamily development consisting of one duplex and 20 triplex buildings. Well-maintained and visually appealing. Stable income stream with consistently high occupancy. Soms below market rents present excellent value-added opportunity. Another nearby complex is also available for acquisition. Utility water and sewer are provided to tenants. Many units are pet friendly. Unencumbered with management agreement. Owner-managed. Assumable loan.
Location
State TN
County Hamblen
Zoning R-2
Direction Parke Villas is located within the city limits and about 2.5 miles west of downtown Morristown. The surrounding area consists largely of residential and multifamily developments.
Exterior
Exterior Feature Lighting
Parking Features On Site, Paved
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Street Surface Paved
Road Frontage City Street
Building
Story 2
Sewer Public Sewer
Water Public
Others
Acceptable Financing Assumable, Fee Simple Improved
Listing Terms Assumable, Fee Simple Improved
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