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Key Details
Sold Price $318,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 2,592 sqft
Price per Sqft $122
MLS Listing ID 301350
Sold Date 09/30/24
Bedrooms 9
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 2,592
Originating Board Great Smoky Mountains Association of REALTORS®
Year Built 1966
Annual Tax Amount $1,207
Tax Year 2023
Lot Size 0.370 Acres
Acres 0.37
Property Sub-Type Single Family Residence
Property Description
Imagine buying a small apartment complex In the heart of Morristown, Tennessee where it will immediately bring in money from all THREE units.
MAKE US AN OFFER!
Feel free to drive by the triplex on Faulkner Rd. in Morristown.
Please do not disturb the tenants.
Rent rolls, pro forma numbers, leases, maintenance records, taxes, EVERYTHING can and will be provided after LOI or Purchase and Sale Agreement.
2,592 sq ft of the BUILDING taken from the tax records. 16,117 sq ft of PROPERTY taken from the tax records. Buyer to verify square footage.
ALL utilities are in the tenants' name(s).
Send us your offers ASAP!
Type 2014 Faulkner Rd. Morristown, TN 37814 into your GPS to find the property.
The units are 2014, 2016, and 2018.
You will see 2018 first from the road.
3 units: 3 occupied
Owner/ Agent representing herself/ partners
Whitney Nicely East- Principal Broker
865 Investors, LLC
Pro Forma Cap Rate: 5%
Pro Forma NOI: $29,160
Current Cap Rate: 3.96%
Current NOI: $17,820
2,592 sq ft of the BUILDING taken from the tax records. 16,117 sq ft of PROPERTY taken from the tax records. Buyer to verify square footage.
Owner/ Agent representing herself/ partners
Whitney Nicely East- Principal Broker
865 Investors, LLC
Location
State TN
County Hamblen
Zoning Residential
Direction Turn left onto US-11E N Pass by Sonic Drive-In (on the right in 14.3 mi) 21.1 mi Turn right onto TN-160 S/TN-342 E Continue to follow TN-160 S 8.1 mi Turn left onto the US-25E N ramp 0.2 mi Merge onto US-25 E N 2.6 mi Take the US-11E N/E Andrew Johnson Hwy ramp to Greeneville/Morristown 0.2 mi Take the ramp to Morristown 144 ft Turn right onto TN-66 S/US-11E S/E Andrew Johnson Hwy Continue to follow TN-66 S/E Andrew Johnson Hwy 0.6 mi Turn right onto Ridgelawn Ave 0.1 mi Turn left onto Faulkner Rd Destination will be on the left 102 ft
Interior
Fireplace No
Exterior
Garage No
Building
Story 1
Water Public
New Construction No
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