Multifamily (Other)

5954 Hiawatha Rd
Morristown, TN 37814

Map & Directions

Traditional Stories: 2

FOR SALE

Price: $299,900 Price Per ft²: $129.38 List Date: 2023-10-03 DOM: 68
City Tax: $0 County Tax: $1,141Expenses Include: Lawn Maint, Property Management, Repairs and Maint, Taxes Real EstateUtilities Expenses: $

Year Built: 1979

Total Area: 2,318 ft² (Finished & Unfinished)

Lot Size: 0.94 acre(s) Lot Dimensions: 100x448 Topography: Rolling Slope

Heating: Baseboard, Central, Electric Cooling: Central Air, Window Unit(s) Water & Sewage: Public

Appliances: Built-In Electric Oven, Refrigerator

Description

Discover a golden investment opportunity at 5954 Hiawatha Road in Morristown, TN—a triplex that's primed for profit. Situated on a generous 0.94-acre lot, this property offers more than just space; it offers financial freedom. Two units are already rented, generating a combined monthly income of $1,545. With a long-time renter in one unit at $650 per month and the second unit fetching $895, you're stepping into a stable income stream from day one.The property currently features three units, with the potential to finish a fourth. Imagine the revenue possibilities when you unlock this additional income source. The downstairs unit has been completely remodeled, saving you time and renovation costs. Plus, each unit comes equipped with a stove and refrigerator, making it move-in ready for tenants.Each unit has washer/dryer hookups, adding convenience for tenants and desirability to your property. What's more, tenants pay all utilities, minimizing your overhead expenses. Located near Panther Creek State Park, this multi-family property offers a serene setting that tenants will find attractive. The natural surroundings can be a unique selling point, adding value to your investment. At $299,900, this property is a smart investment for anyone looking to diversify their portfolio with real estate.