Multifamily (Multi-Family)

2353 Highway 107 , Unicoi, TN 37692

$49,800 Gross Income/Yr. $35,700 Net Operating Income. 3-Unit 5,100 sq ft MF with Creekside RV Park Approved Plans for Future Income Stream. Situated on 1.9 acres of opportunity! With many possibilities, this property has been recently renovated with 3 constructed townhomes. (completed Jan 2024). The garage loft (Unit 1) rents for $1500/mo. 2400 sq ft multi-use space including 1 BR/1 BA, kitchen, dining, laundry set up (w/ washer/dryer), & HUGE upstairs loft room overlooking the open garage space housing 10' drive-thru garage doors, perfect for pulling in large vehicles. Has its own entrance. Two of the condos are 1,300 sq ft ea (2 BR/2 FULL BA). Lower level has 1 BR/1 BA, kitchen, LR. Upstairs has 1 BR/1 BA, LR, & office/loft, complete with high ceilings! Entry to these 2 condos is through main foyer adding extra security & direct access to a shared laundry room. Owner put $30k into the start of an RV Park, including clearing of trees & grade work for 7 spots (4 spots approved for septic, water, & electric & 3 more spots for water & electric only). 2nd septic tank already installed under ground in TDEC approved septic field for RV's (buyer will be responsible for completion of running water/electric to the spots and connecting to septic field). Separate water & electrical meter installed for lots as well (building has its own meters for townhomes). On the back of the building, there are two 50 amp plugs that can power 2 RVs currently. NETN average monthly RV rates are $250-$500 per month (all inclusive=water/sewer/cable) on gravel. NETN average nightly RV rates are $70-$90 per night (all inclusive) on gravel. Concrete pads get more. Electric/water without sewer get less. Conservative estimate is an additional $15K/yr GI & $12K/yr NOI for monthly RV rentals, pushing GI to $69K & NOI to $51K, after RV park completion. Watch the video at https://vimeo.com/963738689 and see for yourself the potential of this property. Buyer/Buyer Agent to verify info

Geographical

County: Unicoi

Subdivision:

Zoning: See Tax Card

School System

Unicoi Elementary

Unicoi Co Middle

Unicoi Co High

Other Rooms: Apartment, Garage Apartment, Laundry, Loft, Office, Workshop  Rooms with Fireplaces: Wood Burning Stove  Flooring: Concrete, Luxury Vinyl  Other Features: Entrance Foyer, Kitchen/Dining Combo, Laminate Counters 

Porch, Patio, Decking Detail:  Front Porch, Rear Patio Roof: Metal Exterior Finish: Metal Siding Garage: 2 

Photos