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
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.
More Information MLS# 1199200
Location, Tax & Legal Info
Area: Blount County - 28
City/County Code: County
Elementary School: Lanier
Total Tax: 1306
High School: William Blount
Contract Info
Auction Y/N: No
Listing Price: 1500000
Current Price: $1,200,000
Status: Closed
Listing Date: 2022-07-14
General Property Description
Lot Dimensions: 780X460X317 IRR
# Units Leased: 16
Utilities/Mo Avg: 363
Property Status: N/A
Driveway: Paved
Lease Information: 16 Mobile Home Lots (9 mobile homes owned; 7 are lot rent only); duplex; efficiency apartment
SqFt - Total (Aprox): 9186
Number of Units: 19
Year Built: 1969
Remarks & Misc
Directions: Heading south on Alcoa Hwy, continue south on 411/ W Broadway for 8.8 miles. Duplex address is 5507 US Highway 411 S. 107 Big Dee Lane is the address for the Mobile Home Park.
Public Remarks: 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.
Income/Expenses
Gross Annual Income: 162540
Annual Oper Expenses: 38504
Property Sub-Type
Duplex: 1
Other: 1
Construction
Frame: 1
Type of Units
Efficiency Unit: 1
2 Bedroom Unit: 1
3 or more Bdrm Units: 1
Other: 1
Siding
Aluminum Siding: 1
Vinyl: 1
Sale Includes
Building and Land: 1
Other: 1
Miscellaneous
Balcony: 1
Patio: 1
TV Cable Available: 1
Washer/Dryer Cnctns: 1
Cooling
Central Cooling: 1
Floors
Carpet: 1
Laminate: 1
Tile: 1
Garage/Parking
Attached: 1
Carport: 1
Individual Carports: 1
Off-Street Parking: 1
On Premise Parking: 1
Tenant Expenses
Cooling: 1
Electricity: 1
Heating: 1
Telephone: 1
Trash Collection: 1
Owner Expenses
Exterior Maintenance: 1
HVAC Maintenance: 1
Insurance: 1
Lawn Maintenance: 1
Leasing Fees: 1
Roof Maintenance: 1
Supplies: 1
Taxes: 1
Water: 1
Fuel
Electric: 1
Heat
Central: 1
Appliances
Dishwasher: 1
Microwave: 1
Range: 1
Refrigerator: 1
Self Cleaning Oven: 1
Smoke Detector: 1
Other Rooms
Bedroom Main Level: 1
Mstr Bdrm Main Level: 1
Roof
Metal: 1
Shingle: 1
Misc Features
Washer/Dryer Connect: 1
New Financing
Cash: 1
Conventional: 1
New Loan: 1
Showing
See Agent Instructns: 1
Location Tax Legal Info
House #: 5507
Street Name: US Highway 411
State/Province: TN
Zip Code: 37801
PIN #: 100 006.00
Geo Lat: 35.6617
Geo Lon: -84.110285
Status Change Info
Status Change Date: 2022-08-29
Under Contract Date: 2022-07-19
Sold Date: 2022-08-26
Sold Price: $1,200,000
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
Listing Office: The Dwight Price Group Realty Executives Associates
Office Phone: 865-888-7653
Last Updated: October - 18 - 2023
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