101-111 Raintree Lane, Kingston, TN 37763
$1,500,000
Property Type:
Multi-Family
Square Footage:
14,560
Lot Size (sq. ft.):
41,800
Status:
Closed
Current Price:
$1,500,000
List Date:
12/18/2021
Last Modified:
3/30/2022
Description
INCREDIBLE VALUE ADD OPPORTUNITY! ALL 2 BDRMS, BRICK, BUILT 1982, TENANTS PAY ALL UTILITIES.
16-2Bdrm 1 ba units on 4 separate lots. Great floorplans. $36,000/year upside. Units have centrral hvac, washer/dryer connections, eat-in kitchens, dishwashers & ample storage. Current owner has begun the process of upgrading units as they become vacant with all new kitchens and bathrooms, redone plumbing including new water heaters, LVT flooring throughout, new doors. 5 units have been completedy lifted. 4 units are vacant and available for a new owner to complete their upgrades. Upon remodel completions, redone units are now renting for $850-$900.
More Information MLS# 1176352
Location, Tax & Legal Info
Area: Roane County - 31
City/County Code: City Limits
Total Tax: 12084
Contract Info
Auction Y/N: No
Listing Price: 1440000
Current Price: $1,500,000
Status: Closed
Listing Date: 2021-12-18
General Property Description
Lot Dimensions: 300x138xirreg
Lot Size SqFt: 41800
# Units Leased: 12
Utilities/Mo Avg: 0
Property Status: N/A
Driveway: Paved
Lease Information: 16-2BR+1BA
SqFt - Total (Aprox): 14560
Number of Units: 16
Year Built: 1982
Remarks & Misc
Directions: Take I-40. Exit 355. Left onto Lawnville, left onto Ladd Wright, right onto Kingston Hwy, left onto Bailey, right onto Paint Rock, left onto Woodlawn, left onto Willowbrook. Properties on the right starting at corner of Raintree & Willowbrook.
Public Remarks: INCREDIBLE VALUE ADD OPPORTUNITY! ALL 2 BDRMS, BRICK, BUILT 1982, TENANTS PAY ALL UTILITIES.
16-2Bdrm 1 ba units on 4 separate lots. Great floorplans. $36,000/year upside. Units have centrral hvac, washer/dryer connections, eat-in kitchens, dishwashers & ample storage. Current owner has begun the process of upgrading units as they become vacant with all new kitchens and bathrooms, redone plumbing including new water heaters, LVT flooring throughout, new doors. 5 units have been completedy lifted. 4 units are vacant and available for a new owner to complete their upgrades. Upon remodel completions, redone units are now renting for $850-$900.
Income/Expenses
Gross Annual Income: 131340
Annual Oper Expenses: 44720
Property Sub-Type
Apartment: 1
Four Plex: 1
Construction
Frame - Brick: 1
Type of Units
2 Bedroom Unit: 1
Garden: 1
Siding
Brick: 1
Sale Includes
Building and Land: 1
Cooling
Central Cooling: 1
Floors
Carpet: 1
Vinyl: 1
Garage/Parking
On Premise Parking: 1
Tenant Expenses
Tenant Pays All Util: 1
Owner Expenses
HVAC Maintenance: 1
Lawn Maintenance: 1
Taxes: 1
Fuel
Electric: 1
Heat
Central: 1
Appliances
Dishwasher: 1
Refrigerator: 1
Self Cleaning Oven: 1
Other Rooms
Other: 1
Roof
Metal: 1
Exterior Features
Balcony: 1
Patio: 1
Misc Features
Washer/Dryer Connect: 1
New Financing
New Loan: 1
Showing
See Agent Instructns: 1
Location Tax Legal Info
House #: 101-111
Street Name: Raintree
St Suffix: Lane
State/Province: TN
Zip Code: 37763
PIN #: 058N H 024.00 000
Geo Lat: 35.856716
Geo Lon: -84.506649
Status Change Info
Status Change Date: 2022-03-30
Under Contract Date: 2021-12-23
Sold Date: 2022-03-30
Sold Price: $1,500,000
IncomeExpenses
Net Operating Income: 73370
Property Features
Property Sub-Type: Apartment; Four Plex
Type of Units: 2 Bedroom Unit; Garden
Sale Includes: Building and Land
Floors: Carpet; Vinyl
Tenant Expenses: Tenant Pays All Util
Owner Expenses: HVAC Maintenance; Lawn Maintenance; Taxes
Fuel: Electric
Heat: Central
Cooling: Central Cooling
Appliances: Dishwasher; Refrigerator; Self Cleaning Oven
Construction: Frame - Brick
Roof: Metal
Siding: Brick
Exterior Features: Balcony; Patio
Misc Features: Washer/Dryer Connect
Other Rooms: Other
New Financing: New Loan
Showing: See Agent Instructns
Disclosures ›Listing Office: Goldman Partners Realty, LLC
Office Phone: 865-705-8675
Last Updated: March - 30 - 2022
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