8160 Rutledge Pike, Rutledge

$199,900

0 Beds
9 Baths
6,256 Sqft
.49 Acres
0 Garages

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/month TOTAL: $3100 / month $37,200 per year EXPENSES: Insurance $2900/yearTaxes $1882/yearWater $180/yearElectric $1800/yearLawn Care $650/yearPest Control $300/yearMaintenance $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.

Essential Information
MLS® #9902185
Price$199,900
Bathrooms9.00
Square Footage6,256
Acres0.49
Year Built1924
TypeMulti-Family
Sub-TypeDuplex
Style2 Story, Traditional
StatusActive
Community Information
Address8160 Rutledge Pike
Area205 - Grainger County
SubdivisionNot In Subdivision
CityRutledge
CountyGrainger
StateTENNESSEE
Zip Code37861
Amenities
UtilitiesCable Available
ParkingParking Spaces, Gravel
Has PoolYes
Garages

Full, Partially Finished, Walk-Out Access

Interior
HeatingBaseboard, Central, Electric
FireplaceYes
# of Stories2
Has BasementYes
Interior Features

Built-in Features, Eat-in Kitchen, Entrance Foyer, Laminate Counters, Smoke Detector(s), Wired for Data

Basement

Full, Partially Finished, Walk-Out Access

Exterior
ExteriorVinyl Siding, Concrete
Exterior FeaturesBalcony
Lot DescriptionLevel, Cleared
RoofMetal
ConstructionSite Built
FoundationBlock
School Information
ElementaryOut Of Area
MiddleOut Of Area
HighOut Of Area
Additional Information
Date ListedNovember 18th, 2019
Days on Market197
ZoningCommercial
HOA Fees0.00
Listing Courtesy of

REMAX REAL ESTATE TEN OF MORRISTOWN

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Information herein deemed reliable but not guaranteed June 2nd, 2020 at 11:00pm