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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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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