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Additional details
Listed by Matt Castle • eXp Realty
$1,900,000
Est. payment /mo
11 Beds
11 Baths
6,360 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,360 sqft
Price per Sqft $298
Subdivision Chapel Hills
MLS Listing ID 3299758
Bedrooms 11
Full Baths 8
Half Baths 3
HOA Y/N false
Year Built 1990
Annual Tax Amount $1,924
Lot Size 1.410 Acres
Lot Dimensions 125X284.83 IRR
Property Description
EXTREMELY RARE 4 PLEX with a classic LONG RANGE SMOKY MOUNTAIN VIEW with each units used as a SHORT TERM RENTAL ! ! !
Potential to add a 5TH RENTAL UNIT!!!
2025 GROSS RENTAL INCOME @ $187,930!!!
Units A, B & C are 3BR / 2.5BA townhome floor plans. Unit D is a 2BR / 2BA unit.
For the VALUE ADD or FORCED EQUITY investors, there is potential to add a 5TH RENTAL UNIT!!! Unit C has an unfinished area directly above it that that could be converted into a 5TH UNIT, similar to Unit D, if the new buyer chooses. The size of the potential 5TH UNIT would be the same as Unit D at approximately 1400sqft.
Each unit has a great LONG RANGE VIEW from the rear of the property. Units A & C have 2 decks and Unit B has 4 (3 decks out back with the view and one covered deck in front of the property overlooking the parking area). Please note in some listing photos show trees were not cleared, but have been recently removed.
TOO MANY UPGRADES to list them all: new metal roof, new HVACs for every unit, new hot water heaters for every unit, new kitchen cabinets & granite in Units A & C, new electric fireplaces, new furniture, a new $15,000 water treatment and storage system with UV light so each unit gets purified water when they need it, new smart locks, new plumbing system where water can be shut off to one unit but the other three do not have to do without water, etc., etc. The seller has a background in construction and they have spared no expense in time and/or budget bringing this property back to life with minimal worries about critical system failures.
TWO LOTS will also convey with the property: the one in which is it built and the lot to the right of the property (as you're facing the fourplex).
HIGH SPEED BROADBAND INTERNET via Comcast/Xfinity available for each unit! Seller is open to transferring equipment leases to new owner to ensure no lack of service for tenants but Buyer will have to work with Comcast/Xfinity to get it setup prior to closing.
Potential to add a 5TH RENTAL UNIT!!!
2025 GROSS RENTAL INCOME @ $187,930!!!
Units A, B & C are 3BR / 2.5BA townhome floor plans. Unit D is a 2BR / 2BA unit.
For the VALUE ADD or FORCED EQUITY investors, there is potential to add a 5TH RENTAL UNIT!!! Unit C has an unfinished area directly above it that that could be converted into a 5TH UNIT, similar to Unit D, if the new buyer chooses. The size of the potential 5TH UNIT would be the same as Unit D at approximately 1400sqft.
Each unit has a great LONG RANGE VIEW from the rear of the property. Units A & C have 2 decks and Unit B has 4 (3 decks out back with the view and one covered deck in front of the property overlooking the parking area). Please note in some listing photos show trees were not cleared, but have been recently removed.
TOO MANY UPGRADES to list them all: new metal roof, new HVACs for every unit, new hot water heaters for every unit, new kitchen cabinets & granite in Units A & C, new electric fireplaces, new furniture, a new $15,000 water treatment and storage system with UV light so each unit gets purified water when they need it, new smart locks, new plumbing system where water can be shut off to one unit but the other three do not have to do without water, etc., etc. The seller has a background in construction and they have spared no expense in time and/or budget bringing this property back to life with minimal worries about critical system failures.
TWO LOTS will also convey with the property: the one in which is it built and the lot to the right of the property (as you're facing the fourplex).
HIGH SPEED BROADBAND INTERNET via Comcast/Xfinity available for each unit! Seller is open to transferring equipment leases to new owner to ensure no lack of service for tenants but Buyer will have to work with Comcast/Xfinity to get it setup prior to closing.
Location
State TN
County Sevier County
Interior
Interior Features High Speed Internet
Heating Electric
Cooling Electric
Fireplaces Number 4
Fireplace Y
Appliance Dishwasher, Dryer, Electric Range, Microwave, Refrigerator, Washer
Exterior
Utilities Available Electricity Available
View Y/N true
View Mountain(s), Seasonal View
Roof Type Metal
Private Pool false
Building
Story 3
Sewer Septic Tank
Water Well
New Construction false
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