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Don't miss this fantastic opportunity to expand your investment portfolio with this fully leased, income-producing triplex in the heart of Morristown! This property features three rental units, including two side-by-side main-level units and a basement efficiency, all currently occupied under yearly lease agreements. With a gross income of $27,600 per year, an estimated net income of $23,165 and an 10.8% cap rate, this property offers a strong return on investment. Recent updates include a newly renovated bathroom in Unit B, completed within the last month. Each unit benefits from 1-2 off-street parking spaces, adding to tenant convenience. Situated in a prime location, this property provides easy access to shopping, dining, and major roadways. Additionally, the neighboring rental property at 1002/1004 E Main St is also available for purchase, presenting an incredible opportunity to acquire multiple income-producing units in one area. Don't let this investment slip away"”schedule your showing today!
| DAYS ON MARKET | 72 | LAST UPDATED | 5/23/2025 |
|---|---|---|---|
| TRACT | Not In Subdivision | YEAR BUILT | 1900 |
| COUNTY | Hamblen | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | Hillcrest |
|---|---|
| Jr. High School | Meadowview |
| High School | East High |
| ADDITIONAL DETAILS | |
| AIR | Heat Pump, Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Range, Refrigerator |
| BASEMENT | Exterior Entry, Finished, Walk-Out Access, Yes |
| CONSTRUCTION | Vinyl Siding |
| HEAT | Heat Pump |
| LOT | 10019 sq ft |
| LOT DIMENSIONS | 68'x149' |
| PARKING | Gravel |
| SEWER | Public Sewer |
| STYLE | Victorian |
| SUBDIVISION | Not In Subdivision |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
0
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*Estimate only
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Listing provided by REMAX Real Estate Ten of Morristown
Listing information is deemed reliable, but not guaranteed.
This IDX solution is (c) Diverse Solutions 2025.
