Description
Investment Opportunity. Five unit apartment complex that has been managed with low turnover in mind. These units have been occupied by an average of five years or greater for each unit, with the leases on month to month terms. This allows a new owner to increase the rental rates to market levels, which are $850 and up for a two-bedroom unit in this area. Typical units feature painted sheetrock walls, carpeted flooring, average quality appliances, bathrooms and kitchens. There is adequate paved parking available for each unit and each unit has a deck which overlooks the Little Tennessee River. The rental market in Franklin is incredible with very little vacancy and rents which have risen significantly over the past several years. The property is available for sale at price of $475,000. The sales price includes the adjacent lot which allows for room for future expansion.
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0BEDS
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1.77ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Investment Opportunity. Five unit apartment complex that has been managed with low turnover in mind. These units have been occupied by an average of five years or greater for each unit, with the leases on month to month terms. This allows a new owner to increase the rental rates to market levels, which are $850 and up for a two-bedroom unit in this area. Typical units feature painted sheetrock walls, carpeted flooring, average quality appliances, bathrooms and kitchens. There is adequate paved parking available for each unit and each unit has a deck which overlooks the Little Tennessee River. The rental market in Franklin is incredible with very little vacancy and rents which have risen significantly over the past several years. The property is available for sale at price of $475,000. The sales price includes the adjacent lot which allows for room for future expansion.
© 2023 Franklin Board of Realtors MLS. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or Old Town Brokers. Data last updated: 2023-12-11T13:31:46.253.