5954 Hiawatha Road, Morristown, TN 37814

$295,000
6
BD
3
BA
Sold Price
$295,000
List Price
$299,900
Closing Date
Jan 18, 2024
MLS#
701467
Status
CLOSED
Type
Multifamily
City
Morristown
County
Hamblen
Bedrooms
6
Bathrooms
3
Lot Size
40,946
Year Built
1979

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.

Additional Information

Acres
0.94
Appliances
Free-Standing Electric Oven, Refrigerator
Basement
Yes
Cooling
Central Air, Wall/Window Unit(s)
Lot Description
Back Yard, Front Yard
Style
Ranch
Subdivision
Other
Year Built
1979

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of RE/MAX Real Estate Ten Midtown. Selling Office: .