Property Description

Listing Status

• More Listing Info

  AC:Heat Pump3	true
  AC:Window Unit(s)	true
  Appliances:Range	true
  Appliances:Refrigerator	true
  Basement:Exterior Entry	true
  Basement:Finished2	true
  Basement:Walk-Out Access	true
  Contract Info:Foreclosure	No
  Easements:Other7	true
  Expenses Include:Lawn Maint	true
  Expenses Include:Repairs and Maint	true
  Expenses Include:Taxes Real Estate	true
  Expenses Include:WaterSewer	true
  Exterior Finish:Vinyl Siding	true
  Foundation:Block6	true
  General Property Description:# Buildings	1
  General Property Description:# of Units	3.0
  General Property Description:Acres	0.23
  General Property Description:Elementary School3	Hillcrest
  General Property Description:High School3	East High
  General Property Description:HOA YN	No
  General Property Description:Lot Dimensions	68'x149'
  General Property Description:Middle School2	Meadowview
  General Property Description:Stories2	1
  General Property Description:Total Units	3
  General Property Description:Zoning2	LI
  Heating:Electric	true
  Heating:Heat Pump2	true
  Heating:Other12	true
  Income and Expenses:Annual Operating Expenses	4435
  Income and Expenses:Gross Annual Income	29400
  Income and Expenses:Net Annual Income	24965
  Info Available:Leases2	true
  Info Available:ProfitLoss Statement	true
  Laundry Features:Electric Dryer Hookup	true
  Laundry Features:Washer Hookup	true
  Levels:One	true
  Location Tax Legal Info:City Taxes	450.8
  Location Tax Legal Info:County Taxes	566.72
  Location Tax Legal Info:Deed Book #	1677
  Location Tax Legal Info:Deed Page #	216
  Parking Features:See Remarks22	true
  Remarks Misc:Directions3	From Andrew Johnson Hwy turn onto Evans Ave, Turn Left onto E Main St, Property on Left
  Remarks Misc:Public Remarks7	Turn-Key Triplex in the Heart of Morristown—Fully Leased & Cash-Flowing Expand your portfolio with this income-producing triplex offering three rentable spaces: two side-by-side main-level units plus a basement efficiency—each occupied on annual leases. Current figures show approx. $29,400 gross annual income, $24,965 estimated net income, and an approx. 10% cap rate based on present leases and expenses. Recent improvements include a newly renovated bathroom in Unit B and an improved crawl space for peace of mind. Tenants enjoy 1-2 off-street parking spaces per unit and a convenient location close to shopping, dining, and major thoroughfares. If you're seeking steady cash flow in a prime Morristown setting, this property checks the boxes!
  Roof:Shingle	true
  Sewer:Public Sewer	true
  Structure Type:Multi Family	true
  Structure Type:Triplex	true
  Style:Victorian2	true
  TopographyLot Description:Cleared	true
  Unit 1:# Bathrooms5	1.0
  Unit 1:# Bedrooms3	2
  Unit 1:# Half Baths	1.0
  Unit 1:# Units	1
  Unit 1:Monthly Rent	1050
  Unit 1:SqFt6	840
  Unit 2:# Bathrooms4	1.0
  Unit 2:# Bedrooms4	1
  Unit 2:# Units2	1
  Unit 2:Monthly Rent2	700
  Unit 2:SqFt5	840
  Unit 3:# Bathrooms3	1.0
  Unit 3:# Bedrooms5	1
  Unit 3:# Units3	1
  Unit 3:Monthly Rent3	700
  Unit 3:SqFt2	672
  Utilities:Electricity Connected	true
  Utilities:Sewer Connected	true
  Utilities:Water Connected	true
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

Listing Courtesy: