$295,000
$299,900
1.6%For more information regarding the value of a property, please contact us for a free consultation.
5954 Hiawatha Rd Morristown, TN 37814
3,074 SqFt
Key Details
Sold Price $295,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,074 sqft
Price per Sqft $95
Subdivision Musser Howard Farm
MLS Listing ID 1241640
Sold Date 01/18/24
Originating Board East Tennessee REALTORS® MLS
Year Built 1979
Lot Dimensions 100x448
Property 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.
Location
State TN
County Hamblen County - 38
Rooms
Family Room Yes
Other Rooms Family Room
Interior
Heating Central, Baseboard, Electric
Cooling Central Cooling, Wall Cooling
Flooring Laminate
Appliance Refrigerator
Heat Source Central, Baseboard, Electric
Exterior
Exterior Feature Porch - Covered
Garage Off-Street Parking
Garage Description Off-Street Parking
Roof Type Shingle
Parking Type Off-Street Parking
Garage No
Building
Faces Collinson Ford Rd. Bear right on Hiawatha. On left
Structure Type Brick
Others
Restrictions Yes
Tax ID 039 035.08
Energy Description Electric
Acceptable Financing New Loan, Cash, Conventional
Listing Terms New Loan, Cash, Conventional
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