2215 Buffalo Tr
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,200,000 |
| No. of Units: | 17 |
| Year Built: | 1935 |
| Lot Size: | 9,503.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $70,588 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 0 |
ID: 3yd-KAARMLSTN-1360218
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Rick Recckio
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Josh A
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Bob Tuteur
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Andrew Schildcrout