$235,000
$219,500
7.1%For more information regarding the value of a property, please contact us for a free consultation.
2,372 SqFt
SOLD DATE : 04/25/2024
Key Details
Sold Price $235,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,372 sqft
Price per Sqft $99
Subdivision Not In Subdivision
MLS Listing ID 9961398
Sold Date 04/25/24
Style Ranch
HOA Y/N No
Originating Board Tennessee/Virginia Regional MLS
Year Built 1972
Lot Size 0.840 Acres
Acres 0.84
Lot Dimensions 91.53 X 440.59 IRR
Property Description
Welcome to a unique investment opportunity! This property features a recently renovated single-family home and a duplex, all on the same parcel. The duplex has a 2 bedrooms and 1 bathroom on each side of the building with separate driveways for privacy. One side of the duplex has been renovated in recent years. The single-family home, also recently renovated, provides a cozy 1-bedroom, 1-bathroom rental.
The full, unfinished basement beneath the duplex is a hidden gem, complete with washer and dryer hookups. The coin operated washer and dryer convey to the buyer. This versatile space presents endless possibilities for additional storage or the potential to possibly create another rental unit, maximizing your rental income.
The expenses for the seller includes water (about $70/month on average), property taxes, property insurance, and lawn care, with lawn maintenance costs averaging around $100 per month during mowing season. Each unit is separately metered for electric and the tenants pay for their own electricity. The renovated side of the duplex has a had a mini-split installed for heating and cooling, the other units have window units.
The tenant on the renovated side of the duplex pays $950 per month and the other side pays $750 per month. The single-family home is primed and ready for a new tenant, offering an opportunity to set a competitive rental rate and further enhance your return on investment.
Don't miss out on this chance to acquire a well-maintained, income-generating property with potential for expansion. Whether you're a seasoned investor or entering the real estate market, this property is a standout opportunity for long-term financial growth. Schedule a viewing today and unlock the full potential of this unique duplex and single-family home combo!
Buyer and Buyer's agent to verify all information.
Location
State TN
County Sullivan
Community Not In Subdivision
Area 0.84
Zoning R 1
Direction JB Dennis to Jared Dr. Left on Moreland. Property is on the left.
Rooms
Basement Unfinished
Interior
Heating Space Heater, Electric, Baseboard, Electric
Cooling Wall Unit(s), Window Unit(s)
Heat Source Space Heater, Electric, Baseboard
Building
Lot Description Level
Sewer Septic Tank
Water Public
Architectural Style Ranch
Structure Type Vinyl Siding,Other
Schools
Elementary Schools Rock Springs
Middle Schools Sullivan Heights Middle
High Schools West Ridge
Others
Senior Community No
Tax ID 076b A 041.00
Acceptable Financing Cash, Conventional, VA Loan
Listing Terms Cash, Conventional, VA Loan
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Bought with Mike Brown • REMAX Rising JC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
7121 Regal Ln Suite 215, Knoxville, TN, 37918, United States