Sperry Van Ness | R. M. Moore, LLC is pleased to exclusively offer for sale this residential condominium development, including the land and Units 2 through 6 of seven total units. Unit 7 is a stand-alone 3-bedroom 2 bathroom unit that the owner will consider selling at an additional price. Finally, Unit 1 is owned by a different owner, and is also actively listed for sale. Bottom line - an investor could easily own the entire development.

There are three 2-bedroom 2-bathroom units and two 4-bedroom 3-bathroom units. A financial upside is that each of the 2-bedroom units has a partially finished 594 SF upper level bonus room that can easily be finished as a large third bedroom to attract higher rents.

Since the five units are part of a condominium regime, an owner/investor would later have the option of selling them individually.

The property is located on Boyds Creek Highway in Sevier County, Tennessee.

Location Description:

Property is located on Boyds Creek Highway, a connector road between Winfield Dunn Parkway (State Highway 66) and Chapman Highway (US 411/441).

Highlights:

>> Condominium development includes land and 5 of 7 total residential units

>> Priced below tax appraised value and even more below a commercial appraised value

>> All 5 units are leased

>> Utility water and sewer

>> Upside - each of the three 2-bedroom units has a partially finished 594 SF bonus room that can easily be completed as a large third bedroom

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Cash, conventional, or terms acceptable to Seller.

Sales Info:

>> Cap rate: 7.59%

>> Commision split: 3.5%

>> NOI: $37112