Thank you for choosing Pat McCollum! As one of the Knoxville area's premier Real Estate Brokers, we are uniquely qualified to help you find the perfect property. On the lake, around town or out on a farm, Pat McCollum is here to help!
Public Remarks: RARE EIGHT PLEX IN MORRISTOWN - FULLY RENTED - NEW ROOF - 7.2 CAP RATE!!! This fully rented 8 unit complex offers a strong investment opportunity in a prime location, just minutes away from Walmart and other essential amenities that tenants desire. Built in 1976, the property has been well maintained and is ready for its next owner. This property has undergone recent updates including a new roof with 6 inch gutters, new windows, fresh appliances and unit flooring. Two units have ductless mini splits and the rest have PTAC systems and all units come with washer/dryer connections, stoves and refrigerators. Tenants pay a flat fee for Seller provided WiFi and water and additionally tenants pay their own electric and trash. With its location near major retail and dining options, and access to highways and public services, this 8 unit is an ideal addition to your portfolio. No sign on property and we respectively request that you do not disturb the tenants.
Take I-40 East To Exit 421 North to Bristol. Take exit 8 to Morristown, 0.5 miles turn right onto Davy Crockett Pkwy to Cumberland Gap Park, in 2 miles turn left onto Old Highway 25E, in 5 miles turn left onto Shields Ferry Rd and keep left. In 150 ft the eight-plex will be on your left.
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This is your Principal & Interest Payment only - you will still have to add HomeOwners Insurance and Taxes for a Total Monthly Payment. The Loan Amount Figure is based on a 20% down payment, Private Mortgage Insurance (PMI) is required with less than a 20% down payment. We can provide you names of Mortgage Loan Officers that will provide you more details on your payment and total down payment.
Buying or Selling real estate should be fun and simple. With Pat McCollum, that's exactly what you can expect. We will strive to make each and every interaction a professional and pleasant experience!
