685 Central Church Rd, Morristown, TN 37814
62 Unit Apartment Building | $9,300,000 ($150,000/Unit) | Morristown, TN 37814
For Sale
Active
Asking Price $9,300,000
- Property Type
-
Multifamily
- Square Feet
- 77,202 SF
Listing Contacts
David Gothard
Property Overview
62-unit multifamily development consisting of one duplex and 20 triplex buildings. Current and historically high occupancy. Some current below market rents present excellent upside opportunity. Located within the city limits and about 2.5 miles west of downtown Morristown, TN. The surrounding area consists largely of residential and multifamily developments. Another nearby complex is also available for acquisition.
Property Details
- Year Built
- 2018
- Stories
- 2
- Lot Size (sq. ft)
- 248,728 SF
- Units
- 62
Highlights
- Well-maintained and visually appealing multifamily complex
- Stable income stream with consistently high occupancy
- Some 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
- Unencombered with management agreement. Owner-managed. Assumable loan
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