$295,000
$299,900
1.6%For more information regarding the value of a property, please contact us for a free consultation.
2,318 SqFt
SOLD DATE : 01/19/2024
Key Details
Sold Price $295,000
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 2,318 sqft
Price per Sqft $127
Subdivision Not Listed
MLS Listing ID 9957673
Sold Date 01/19/24
Style Traditional
HOA Y/N No
Originating Board Tennessee/Virginia Regional MLS
Year Built 1979
Lot Size 0.940 Acres
Acres 0.94
Lot Dimensions 100x448
Property Description
Discover a golden investment opportunity at 5954 Hiawatha Road in Morristown, TN—a triplex that's primed for profit. Situated on a generous 0.94-acre lot, this property offers more than just space; it offers financial freedom. Two units are already rented, generating a combined monthly income of $1,545. With a long-time renter in one unit at $650 per month and the second unit fetching $895, you're stepping into a stable income stream from day one.
The property currently features three units, with the potential to finish a fourth. Imagine the revenue possibilities when you unlock this additional income source. The downstairs unit has been completely remodeled, saving you time and renovation costs. Plus, each unit comes equipped with a stove and refrigerator, making it move-in ready for tenants.
Each unit has washer/dryer hookups, adding convenience for tenants and desirability to your property. What's more, tenants pay all utilities, minimizing your overhead expenses. Located near Panther Creek State Park, this multi-family property offers a serene setting that tenants will find attractive. The natural surroundings can be a unique selling point, adding value to your investment. At $299,900, this property is a smart investment for anyone looking to diversify their portfolio with real estate.
Location
State TN
County Hamblen
Community Not Listed
Area 0.94
Zoning Commercial
Direction Collinson Ford Rd. Bear right on Hiawatha. On left
Rooms
Basement Exterior Entry, Finished, Heated
Interior
Heating Electric, Central, Baseboard, Electric
Cooling Central Air, Window Unit(s)
Flooring Laminate
Fireplace No
Appliance Built-In Electric Oven, Refrigerator
Heat Source Electric, Central, Baseboard
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Garage Circular Driveway, Gravel
Utilities Available Cable Available
Roof Type Shingle
Porch Covered, Front Porch
Parking Type Circular Driveway, Gravel
Building
Lot Description Rolling Slope
Sewer Septic Tank
Water Public
Architectural Style Traditional
Structure Type Brick
New Construction No
Schools
Elementary Schools Out Of Area
Middle Schools Out Of Area
High Schools Out Of Area
Others
Senior Community No
Tax ID 039 035.08
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Bought with Non Member • Non Member