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    8160 Rutledge Pike

    Rutledge, TN 37861
    • $199,900
    • STATUS: Active Under Contract
    • ON SITE: 314 days
    • ID#: 1101045
    Under Contract
    UPDATED: 24 min ago
    $199,900
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,256
      SQFT
    • $32
      $/SQFT
    Type:
    Multi-Family
    Built:
    1924
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    Great Investment Opportunity! This 7 unit apartment complex was the old ''Rutledge Inn'' in previous years. Located on Rutledge Pike/Highway 11W this building is in the heart of Rutledge and convenient to everything. $2700 per month gross rental income. Building has an additional 2858 sq ft in the basement that could be converted into additional units or office space. Mix of 1 and 2 bedroom units. Apartments have public water and public sewer. Tenants pay for their own water and electric. Approximately $27,000 net income per year. Numerous updates in 2019.1 bed/1 bath $375/month1 bed/1 bath $400/month1 bed/1 bath $375/month2 bed 2 bath $475/month2 bed/ 2 bath $500/month2 bed/ 1 bath $475/month2 bed/ 1 bath $500/TOTAL: $3100 / month $37,200 per year EXPENSES: Insurance $2900/year Taxes $1882/year Water $180/year Electric $1800/year Lawn Care $650/year Pest Control $300/year Maintenance $2400/year TOTAL $10,112/YEAR NET INCOME: $27,088 Cap Rate of 13.5% Some units do have pets and they are charged an additional amount, normally $25 extra per month for every 2 pets. The electric bill covers the expense of electric in basement and security lights inside and outside the building. Owners will have electric cut on in individual units when improving.

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    © 2020 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Realty Executives Associates. Information is deemed reliable but is not guaranteed accurate by the MLS or Realty Executives Associates. Data last updated: 2020-09-28T17:58:30.907.
    www.ashleyfinney.com/homes/101091895
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    8160 Rutledge Pike Rutledge, TN 37861

    • Price: $199,900
    • Status: Active Under Contract
    • Updated: 24 min ago
    • ID#: 1101045
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    6,256
    SQFT
    $32
    $/SQFT
    1924
    Built
    County:
    Grainger
    Area:
    Rutledge
    Elementary School:
    Rutledge
    Middle School:
    Rutledge
    High School:
    Rutledge
    Property Description
    Great Investment Opportunity! This 7 unit apartment complex was the old ''Rutledge Inn'' in previous years. Located on Rutledge Pike/Highway 11W this building is in the heart of Rutledge and convenient to everything. $2700 per month gross rental income. Building has an additional 2858 sq ft in the basement that could be converted into additional units or office space. Mix of 1 and 2 bedroom units. Apartments have public water and public sewer. Tenants pay for their own water and electric. Approximately $27,000 net income per year. Numerous updates in 2019.1 bed/1 bath $375/month1 bed/1 bath $400/month1 bed/1 bath $375/month2 bed 2 bath $475/month2 bed/ 2 bath $500/month2 bed/ 1 bath $475/month2 bed/ 1 bath $500/TOTAL: $3100 / month $37,200 per year EXPENSES: Insurance $2900/year Taxes $1882/year Water $180/year Electric $1800/year Lawn Care $650/year Pest Control $300/year Maintenance $2400/year TOTAL $10,112/YEAR NET INCOME: $27,088 Cap Rate of 13.5% Some units do have pets and they are charged an additional amount, normally $25 extra per month for every 2 pets. The electric bill covers the expense of electric in basement and security lights inside and outside the building. Owners will have electric cut on in individual units when improving.
    Exterior Features

    Construction Block Driveway Gravel Exterior Features BalconyCable Available (Tv Only)DeckPorch - CoveredWindows - Aluminum Garage Parking Off-Street Parking Lot Size 140 X 210 IRR Siding CementVinyl

    Interior Features

    Appliances Range/OvenRefrigerator Cooling Central CoolingWall Cooling Floors CarpetHardwoodVinyl Fuel Electric Heat Baseboard WallCentral Misc Features Washer/Dryer Connect Other Rooms Foyer

    Property Features

    Annual Oper Expenses 10112.00 Auction YN No City County Code County City Taxes 0.00 County Taxes 1882.00 Gross Annual Income 37200.00 Miscellaneous PorchStorage SpaceTv Cable AvailableWasher/Dryer Cnctns Multifamily Sub Type Apartment Net Operating Income 27088.00 New Financing CashConventional Owner Expenses Common Area MaintenanceExterior MaintenanceInsuranceLawn MaintenanceRoof Maintenance Property Status N/A Pud YN No Restrictions No Sale Includes Building And LandSome Furnishings Tenant Expenses ElectricityTelephoneTenant Pays All UtilWater/Sewer Total Tax 1882.00 Type Of Units 1 Bedroom Unit2 Bedroom UnitUnfurnished Units Leased 7.00 Utilities Mo Avg 165.00

    Listing information © 2020 Knoxville Area Association of REALTORS®, Inc.
    Listing provided courtesy of Re/Max Real Estate Ten.


    © 2020 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Realty Executives Associates. Information is deemed reliable but is not guaranteed accurate by the MLS or Realty Executives Associates. Data last updated: 2020-09-28T17:58:30.907.
     
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