$273,810*
●
Multifamily -
Off Market
8160 RUTLEDGE Pike
Rutledge, TN 37861
Studio
0 Bath
6256 Sqft
$180,000 - $218,000
Reference Base Price*
36.97%
Since Sep 1, 2020
National-US
Primary Model
About This Property
Great Investment Opportunity! This 7 unit apartment complex
was the old ''Rutledge Inn'' in previous years. Located on
Rutledge Pike/Highway 11W this building is in the heart of Rutledge
and convenient to everything. $2700 per month gross rental
income. Building has an additional 2858 sq ft in the basement
that could be converted into additional units or office space.
Mix of 1 and 2 bedroom units. Apartments have public
water and public sewer. Tenants pay for their own water and
electric. Approximately $27,000 net income per year.
Numerous updates in 2019.1 bed/1 bath
$375/month1 bed/1 bath
$400/month1 bed/1 bath
$375/month2 bed 2 bath
$475/month2 bed/ 2 bath
$500/month2 bed/ 1 bath $475/month2
bed/ 1 bath $500/month TOTAL:
$3100 / month $37,200 per year EXPENSES:
Insurance
$2900/yearTaxes
$1882/yearWater
$180/yearElectric
$1800/yearLawn Care
$650/yearPest Control
$300/yearMaintenance $2400/year TOTAL
$10,112/YEAR NET
INCOME: $27,088 Cap Rate of 13.5% Some units do have
pets and they are charged an additional amount, normally $25 extra
per month for every 2 pets. The electric bill covers the expense of
electric in basement and security lights inside and outside the
building. Owners will have electric cut on in individual
units when improving.
The manager has listed the unit size as 6256 square feet.
The manager has listed the unit size as 6256 square feet.
Unit Size
6,256Ft²
Days on Market
-
Land Size
0.49 acres
Price per sqft
$32
Property Type
Multifamily
Property Taxes
-
HOA Dues
-
Year Built
1924
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Oct 20, 2020 | Sold | $185,000 | |
Sold | |||
Aug 21, 2020 | No longer available | - | |
No longer available | |||
Mar 9, 2020 | Relisted | $199,900 | |
Relisted | |||
Jan 25, 2020 | No longer available | - | |
No longer available | |||
Nov 18, 2019 | Listed | $199,900 | |
Listed |
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
11/18/2019
|
|
Studio
|
-
|
6256 ft²
|
$199,900
Studio
-
6256 ft²
|
-
-
|
-
|
-
|