412 N Bellwood Road, Morristown, TN 37814
$12,200,000
Property Type:
Commercial Sale
Square Footage:
89,984
Lot Size (sq. ft.):
369,389
Status:
Closed
Current Price:
$12,200,000
List Date:
5/23/2024
Last Modified:
9/12/2024
Overview
Description
67-unit multifamily development consisting of 25 single-family houses, one single-level duplex, and 20 two-level duplexes. Well maintained and visually appealing. Stable income stream with consistently high occupancy. Some below market rents present excellent value-added opportunity. Utility water and sewer included in tenant's monthly payments. Many units are pet-friendly. Unencumbered with management agreement. Owner-managed.
Listing Details MLS# 301146
General Property Information
- Stories Total
- 2
- Lot Size Acres
- 8.48
- Lot Size Source
- Public Records
- Living Area
- 89984
- Building Area Source
- Public Records
- Business Name
- Villas West
- Year Built
- 2019
- Bonus Room YN
- No
- Sign On Property YN
- Yes
- Construction Type
- Site Built
- List Price/SqFt
- 162.25
- Sold Price/SqFt
- 135.58
- Parking Total
- 0
Property Features
Business Type:
Other
Documents Available:
Aerial Photo
Exterior Features:
Lighting
Levels:
One; Two
Listing Terms:
Cash; Conventional; Fee Simple Improved
Lock Box Information:
None
Parking Features:
On Site; Paved
Possession:
Negotiable
Possible Use:
Multi-Family
Road Frontage Type:
City Street
Road Surface Type:
Paved
Sewer:
Public Sewer
Utilities:
Electricity Available; Water Available
Water Source:
Public
Showing Considerations:
Occupied
Showing Requirements:
Appointment Only; Call Listing Agent
Location Tax and Legal
- Street Number
- 412
- Street Direction Prefix
- N
- Street Name
- Bellwood
- Street Suffix
- Road
- County
- Hamblen
- State
- TN
- Zip Code
- 37814
- Property Sub Type
- Multi Family
- MLS Area Major
- Hamblen County
- Subdivision Name
- Other
Contract Information
- Original List Price
- 14600000
- Listing Contract Date
- 2024-05-21
- Auction YN
- No
- Owner Name
- Carlyle
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
- Association YN
- No
Remarks and Miscellaneous
- Public Remarks
- 67-unit multifamily development consisting of 25 single-family houses, one single-level duplex, and 20 two-level duplexes. Well maintained and visually appealing. Stable income stream with consistently high occupancy. Some below market rents present excellent value-added opportunity. Utility water and sewer included in tenant's monthly payments. Many units are pet-friendly. Unencumbered with management agreement. Owner-managed.
- Directions
- Located within the city limits and about 3 miles west of downtown Morristown, TN. The surrounding area consists of commercial, residential, and multifamily development.
Status Change Information
- Major Change Timestamp
- 2024-08-30T13:57:09Z
- Major Change Type
- Status Change
- Status Change Timestamp
- 2024-08-30
- Purchase Contract Date
- 2024-06-08
- Close Date
- 2024-08-30
- Close Price
- 12200000
- Buyer Financing
- Conventional
- Anticipated Closing Date
- 2024-08-30
More Information
Currently Not Used
- Book/Page/Doc #
- 1749/133
Showing Requirements
- Showing Instructions
- Contact listing agent to arrange showings.
- Appointment Only
- Yes
- Call Listing Agent
- Yes
Location, Tax, and Legal
- City/County
- City
- Restrictive Covenants YN
- Yes
- Zoning
- R-2
- Zoning Entity
- Morristown
- Parcel Number
- 40 039.00,039.01,039.01 SI 001-021
- Tax Lot
- No
- Tax Annual Amount
- 6485.9
- Tax Year
- 2023
- City Tax
- 2873.5
- County Tax
- 3653.98
- Elementary School
- Other
- Middle Or Junior School
- Other
- High School
- Other
Documents Available
- Aerial Photo
- Yes
Exterior Features
- Lighting
- Yes
Levels
- One
- Yes
- Two
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
- Fee Simple Improved
- Yes
Lock Box Information
- None
- Yes
Parking Features
- On Site
- Yes
- Paved
- Yes
Possession
- Negotiable
- Yes
Road Frontage Type
- City Street
- Yes
Road Surface Type
- Paved
- Yes
Sewer
- Public Sewer
- Yes
Utilities
- Electricity Available
- Yes
- Water Available
- Yes
Water Source
- Public
- Yes
Possible Use
- Multi-Family
- Yes
Business Type
- Other
- Yes
Showing Considerations
- Occupied
- Yes
Documents
Confirmation of Agency ›
Listing Office:
NAI Koella | RM Moore
Last Updated: September - 12 - 2024
Information deemed reliable but not guaranteed.