5507 US Highway 411, Maryville, TN 37801

$1,200,000
Property Type: Multi-Family Square Footage: 9,186 Status: Closed
Current Price: $1,200,000 List Date: 7/14/2022 Last Modified: 10/18/2023

Overview

Description

Once of a kind opportunity to own an income producing portfolio on 7+ ACRES with Hwy 411 road frontage! This multi-family portfolio includes 16 mobile homes/mobile home pads (9 mobile homes are owned & convey; 7 are pads that are receiving lot rent), a duplex with both updated 2 BR, 2 BA units rented out as well as an efficiency apartment that is also currently rented. The monthly rental numbers for June surpassed $11,000, July's gross rent surpassed $13,500, and August is projected to hit $15,000 in gross monthly rental income. Tenants pay all utilities except for water. Water is provided through shared well. Updated survey is expected to be available Monday, July 18th. Please note that tax amounts will vary because there are two parcels that were taken out and surveyed separately.

Listing Details MLS# 1199200

Location Tax Legal Info

House #
5507
Street Name
US Highway 411
State/Province
TN
Zip Code
37801
PIN #
100 006.00

Contract Info

Auction Y/N
No
Listing Price
1500000

General Property Description

SqFt - Total (Aprox)
9186
Lot Dimensions
780X460X317 IRR
Number of Units
19
# Units Leased
16
Utilities/Mo Avg
363
Year Built
1969
Property Status
N/A
Driveway
Paved
Lease Information
16 Mobile Home Lots (9 mobile homes owned; 7 are lot rent only); duplex; efficiency apartment

Status Change Info

Status Change Date
2022-08-29
Under Contract Date
2022-07-19
Sold Date
2022-08-26

More Information

Property Features

Property Sub-Type: Duplex; Other Type of Units: Efficiency Unit; 2 Bedroom Unit; 3 or more Bdrm Units; Other Sale Includes: Building and Land; Other Floors: Carpet; Laminate; Tile Tenant Expenses: Electricity; Telephone; Trash Collection Owner Expenses: Exterior Maintenance; HVAC Maintenance; Insurance; Lawn Maintenance; Leasing Fees; Roof Maintenance; Supplies; Taxes; Water Fuel: Electric Heat: Central Cooling: Central Cooling Appliances: Dishwasher; Microwave; Range; Refrigerator; Self Cleaning Oven; Smoke Detector Construction: Frame Roof: Metal; Shingle Siding: Aluminum Siding; Vinyl Misc Features: Washer/Dryer Connect Other Rooms: Bedroom Main Level; Mstr Bdrm Main Level Miscellaneous: Balcony; Patio; TV Cable Available; Washer/Dryer Cnctns New Financing: Cash; Conventional; New Loan Showing: See Agent Instructns
IDX
Listing Office: The Dwight Price Group Realty Executives Associates
Last Updated: October - 18 - 2023
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