6362 Maynardville HwyMaynardville, TN 37807

Property Details for 6362 Maynardville Hwy

Year built

1974

Lot size

2.07 AC

Property size (Sq ft)

3,756 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 10-unit apartment building situated on a spacious 2.07-acre lot in Maynardville, Tennessee. The property, located at 6362 Maynardville Hwy, 37807, boasts a total of 3,756 square feet and features a single-story design built in 1974. Currently configured as a 5-unit apartment complex, the property also includes two houses and three trailer rental properties, providing diverse income streams. Further enhancing its profitability is a coin-operated laundry facility and five self-storage units, catering to tenant needs and generating additional revenue. The asking price is $1,100,000, translating to $110,000 per unit and a price per square foot of $292.86. The property's projected net operating income (NOI) exceeds $100,000, resulting in a pro-forma capitalization rate of 9.09%. This multifamily investment offers a compelling combination of established rental income, supplementary revenue streams, and significant potential for future growth. The property's location in Maynardville, Tennessee provides access to a stable rental market. This turnkey investment is ideal for those seeking a strong return on investment in a desirable location.

Location Insight

City

Maynardville

County

Union

State

Tennessee

Latitude

36.3166

Longitude

-83.7522

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