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2215 Buffalo Tr, Morristown, TN 37814

$1,200,000
: 9,503
SqFt

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List Price: $1,200,000
MLS#: 1360218
Status: ACTIVE
Type: Single Family Residential
City: Morristown
County: Hamblen
Living Area: 9,503
Lot Size: 84,942
Year Built: 1935

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Property Description

VALUE ADD OPPORTUNITY - 17 UNITS - 8.3 CAP RATE - $1.2 MILLION - MORRISTOWN TN Buffalo Trail Apts are well located on a 2 acre corner lot offering plenty of on-site parking and great road signage with a traffic count of nearly 10,000 cars per day. Additionally, all units are separately metered for water and electric with tenants paying all charges. Buffalo Trail is conveniently located just steps from Walmart, local shops, popular restaurants, Cherokee Lake, US-11E, and I-81. Current ownership has invested over $60,000 in capital improvements over the past 36 months, with additional upside available through interior upgrades, enhanced amenities, and increased rents. With a manageable 17-unit size, established local demand, and opportunities to improve rents, Buffalo Trail Apartments presents an attractive value-add investment in East Tennessee. All showings by appointment only.

(865) 368-3471

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Additional Information

Acres: 1.95
Appliances: Refrigerator, Range
Construction: Frame, Stucco
Cooling: Central Air
Floors: Laminate, Tile
Garage: On Premise Parking
Living Area: 9,503
Lot Dimensions: 242x372x137
Year Built: 1935
Heating: Central, Electric
Num Of Units: 17