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3600/3610 Maynardville Hwy

Maynardville, TN 37807
  • $2,500,000
  • STATUS: Active
  • ON SITE: 108 Days
  • ID#: 1245217
UPDATED: 61 min ago
$2,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 15,000
    SQFT
  • $167
    $/SQFT
Type:
Multi-Family
Built:
1989
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

INCOME PRODUCING/INVESTMENT OPPORTUNITY... 22 Unites Total, with twenty-one being 2-bedroom/1 Bath and one being 1-bedroom/1-bath. The latest 2/1 was rented at $1,100 per month. Owner has recently renovated 13 out of the 22 units, with 3 additional renovations scheduled, pending the expiration of current Tenant leases. All renovated units have been released at higher monthly rates, increasing overall cashflow and value of the investment under new ownership. Current rental income per year is $230,000.00, with potential increases projected to be more than $270,000.00, as evidence from the new renovation leases and overall property improvements. Currently, all units are rented except for one undergoing renovation. All Units are comprised within two separate buildings. Renovations made to date include the following updates: new light fixtures, new countertops and backsplashes, repainting interiors, new flooring, black metal accents, and changing the exterior color scheme by fully repainting & repairing the siding where necessary. Unit Expenses - Tenants cover their own electricity costs. Water, pest control and trash expenses, are passed through form Owner to each Tenant at a prorated share. Conveniently located with easy access to Maynardville Hwy, this property is just 30 minutes from downtown Knoxville and centrally situated in Maynardville, providing easy access to schools, stores, and local dining options.

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© 2024 East Tennessee REALTORS®. 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 Adam Wilson Realty. Information is deemed reliable but is not guaranteed accurate by the MLS or Adam Wilson Realty. Data last updated: 2024-02-24T19:23:26.197.
www.adamwilsonrealty.com/homes/145079566
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3600/3610 Maynardville Hwy Maynardville, TN 37807

  • Price: $2,500,000
  • Status: Active
  • On Site: 108 Days
  • Updated: 61 min ago
  • ID#: 1245217
0
Beds
0
Baths
0
½ Baths
N/A
Acres
15,000
SQFT
$167
$/SQFT
1989
Built
County:
Union
Area:
Maynardville
Elementary School:
Maynardville
Middle School:
Maynardville
High School:
Union County
Property Description
INCOME PRODUCING/INVESTMENT OPPORTUNITY... 22 Unites Total, with twenty-one being 2-bedroom/1 Bath and one being 1-bedroom/1-bath. The latest 2/1 was rented at $1,100 per month. Owner has recently renovated 13 out of the 22 units, with 3 additional renovations scheduled, pending the expiration of current Tenant leases. All renovated units have been released at higher monthly rates, increasing overall cashflow and value of the investment under new ownership. Current rental income per year is $230,000.00, with potential increases projected to be more than $270,000.00, as evidence from the new renovation leases and overall property improvements. Currently, all units are rented except for one undergoing renovation. All Units are comprised within two separate buildings. Renovations made to date include the following updates: new light fixtures, new countertops and backsplashes, repainting interiors, new flooring, black metal accents, and changing the exterior color scheme by fully repainting & repairing the siding where necessary. Unit Expenses - Tenants cover their own electricity costs. Water, pest control and trash expenses, are passed through form Owner to each Tenant at a prorated share. Conveniently located with easy access to Maynardville Hwy, this property is just 30 minutes from downtown Knoxville and centrally situated in Maynardville, providing easy access to schools, stores, and local dining options.
Exterior Features

Construction Frame Driveway Paved Exterior Features BalconyWindows - Aluminum Garage Parking On Premise Parking Lot Size 241x273 Siding Other

Interior Features

Appliances RangeRefrigerator Cooling Central Cooling Floors CarpetLaminateTile Fuel Electric Heat Central Misc Features Internet AvailableWasher/Dryer Connect Other Rooms Other

Property Features

Auction YN No City County Code County City Taxes 0.00 County Taxes 1518.67 Lease Information 21 units are 2 Bed/1 Bath1 unit is 1 Bed/1 Bath Miscellaneous BalconyCabanaWasher/Dryer Cnctns Multifamily Sub Type Apartment New Financing CashConventional Owner Expenses Common Area MaintenanceExterior MaintenanceHVAC MaintenanceInsuranceLawn MaintenanceRoof MaintenanceSewerTaxesTrash CollectionWater Property Status N/A Pud YN No Sale Includes Building and LandOther Tenant Expenses ElectricityWater/Sewer Total Tax 1518.67 Type Of Units 1 Bedroom Unit2 Bedroom Unit Units Leased 22.00 Utilities Mo Avg 1300.00

Listing information © 2024 East Tennessee REALTORS®.
Listing provided courtesy of Sexton Real Estate Services, Inc.: (865) 300-4300.


© 2024 East Tennessee REALTORS®. 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 Adam Wilson Realty. Information is deemed reliable but is not guaranteed accurate by the MLS or Adam Wilson Realty. Data last updated: 2024-02-24T19:23:26.197.
 
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Adam Wilson Realty
2043 Castaic Ln Suite C
Knoxville TN, 37932