1503 Travel Way, Sevierville, TN 37862
$1,850,000
Property Type:
Multi-Family
Square Footage:
16,310
Lot Size (sq. ft.):
217,800
Status:
Closed
Current Price:
$1,850,000
List Date:
4/04/2022
Last Modified:
6/28/2022
Overview
Description
First time on the market! 26-unit property on 5 acres with value-add opportunities & million-dollar views! Well-located in Sevier County, close to all the jobs in Pigeon Forge and Sevierville and surrounded by high-end homes.
This offering includes 2 separate parcels nearly adjacent to each other. The Travel Way parcel contains the Seller’s 3-BR home (completed 1982), a mixed-use building with a coin laundry, office, workshop, a 2-BR apt (built ~1996), a two car garage plus 12 units (small and affordable) in 4 triplexes (built between 1994 and1997).
The Flatwood Rd parcel, just a few lots over, also contains 4 triplexes of similar age, a huge barn and potential to build three more units. Each parcel contains 2.5 acres. Lots of potential for rent increase.
Listing Details MLS# 1186349
Location Tax Legal Info
- House #
- 1503
- Street Name
- Travel
- St Suffix
- Way
- State/Province
- TN
- Zip Code
- 37862
- PIN #
- 062 092.07 001
Contract Info
- Auction Y/N
- No
- Listing Price
- 2100000
General Property Description
- SqFt – Total (Aprox)
- 16310
- Lot Dimensions
- 600x616xIRREG
- Lot Size SqFt
- 217800
- Number of Units
- 26
- Utilities/Mo Avg
- 90
- Year Built
- 1982
- Property Status
- N/A
- Driveway
- GRAVEL
- Lease Information
- 23 units are rented
Status Change Info
- Status Change Date
- 2022-06-28
- Under Contract Date
- 2022-04-18
- Sold Date
- 2022-06-27
IncomeExpenses
- Net Operating Income
- 116308
Location, Tax & Legal Info
- Area
- Sevier County – 27
- City/County Code
- County
- Total Tax
- 3078
More Information
Remarks & Misc
- Directions
- From I-40, Exit 407 towards Sevierville. Turn right on Veterans Blvd, left onto Middle Creek Rd, Left onto Ernest McMahan Rd, then stay right onto Pullen Rd. Left onto Flatwood Rd. House and 13 apts will be on the right at 1503 Travel Way. the additional 12 units are at 1444 Flatwood Rd.
- Public Remarks
- First time on the market! 26-unit property on 5 acres with value-add opportunities & million-dollar views! Well-located in Sevier County, close to all the jobs in Pigeon Forge and Sevierville and surrounded by high-end homes. This offering includes 2 separate parcels nearly adjacent to each other. The Travel Way parcel contains the Seller's 3-BR home (completed 1982), a mixed-use building with a coin laundry, office, workshop, a 2-BR apt (built ~1996), a two car garage plus 12 units (small and affordable) in 4 triplexes (built between 1994 and1997). The Flatwood Rd parcel, just a few lots over, also contains 4 triplexes of similar age, a huge barn and potential to build three more units. Each parcel contains 2.5 acres. Lots of potential for rent increase.
Income/Expenses
- Gross Annual Income
- 164473
- Annual Oper Expenses
- 49365
Property Sub-Type
- Apartment
- Yes
Construction
- Frame
- Yes
Type of Units
- 1 Bedroom Unit
- Yes
- 3 or more Bdrm Units
- Yes
- Unfurnished
- Yes
Siding
- Other
- Yes
Sale Includes
- Building and Land
- Yes
Miscellaneous
- Coin Laundry
- Yes
Cooling
- Central Cooling
- Yes
- Wall Cooling
- Yes
Floors
- Laminate
- Yes
- Vinyl
- Yes
Garage/Parking
- On Premise Parking
- Yes
Tenant Expenses
- Cooling
- Yes
- Electricity
- Yes
- Gas
- Yes
- Heating
- Yes
Owner Expenses
- Common Area Maintenance
- Yes
- Insurance
- Yes
- Taxes
- Yes
- Trash Collection
- Yes
Fuel
- Electric
- Yes
- Gas (Natural)
- Yes
Heat
- Baseboard
- Yes
- Central
- Yes
- Other
- Yes
Appliances
- Range
- Yes
- Refrigerator
- Yes
Other Rooms
- Mstr Bdrm Main Level
- Yes
Roof
- Composition
- Yes
Misc Features
- None
- Yes
New Financing
- New Loan
- Yes
Showing
- See Agent Instructns
- Yes
Property Features
Property Sub-Type:
Apartment
Type of Units:
1 Bedroom Unit; 3 or more Bdrm Units; Unfurnished
Sale Includes:
Building and Land
Floors:
Laminate; Vinyl
Tenant Expenses:
Electricity; Gas
Owner Expenses:
Common Area Maintenance; Insurance; Taxes; Trash Collection
Fuel:
Electric; Gas (Natural)
Heat:
Baseboard; Central; Other
Cooling:
Central Cooling; Wall Cooling
Appliances:
Range; Refrigerator
Construction:
Frame
Roof:
Composition
Siding:
Other
Misc Features:
None
Other Rooms:
Mstr Bdrm Main Level
Miscellaneous:
Coin Laundry
New Financing:
New Loan
Showing:
See Agent Instructns
Documents
Conf of Agency ›
Listing Office:
Goldman Partners Realty, LLC
IDX
Office Phone: 865-444-3240
Last Updated: June – 28 – 2022
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