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106 King Ave 5 Unit Apartment Building $799,000 ($159,800/Unit) Morristown, TN 37814
INVESTMENT HIGHLIGHTS
- 5 Total Units in Morristown, TN
- Unit Mix: (2) 2BR/1BA, (2) 1BR/1BA, (1) 4BR/2BA
- Detached Garage Generates $150/Month Additional Income
- $75,600 in Annual Rental Income
- $150K+ in Recent CapEx: Roof, HVAC, Electrical, Plumbing, Windows, Doors
- Turnkey Investment with Strong Cash Flow
EXECUTIVE SUMMARY
This multifamily investment at 106–114 King Avenue in Morristown, TN features five units with a diverse mix of floor plans and a total projected annual income of $75,600. The unit breakdown includes two 2 bed / 1 bath units, two 1 bed / 1 bath units, and one large 4 bed / 2 bath unit, appealing to a wide range of renters.
The property has undergone over $150,000 in recent capital improvements, including a new roof, updated HVAC systems, electrical and plumbing upgrades, and new windows and doors throughout—offering investors a truly turnkey asset.
A detached garage provides an additional $150/month in income, further enhancing returns. Situated in a growing submarket with strong rental demand, this property presents a compelling opportunity for investors looking for immediate cash flow with long-term upside.
The property has undergone over $150,000 in recent capital improvements, including a new roof, updated HVAC systems, electrical and plumbing upgrades, and new windows and doors throughout—offering investors a truly turnkey asset.
A detached garage provides an additional $150/month in income, further enhancing returns. Situated in a growing submarket with strong rental demand, this property presents a compelling opportunity for investors looking for immediate cash flow with long-term upside.
PROPERTY FACTS
| Price | $799,000 | Apartment Style | Low-Rise |
| Price Per Unit | $159,800 | Lot Size | 0.37 AC |
| Sale Type | Investment | Building Size | 4,500 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 0.89/1,000 SF |
| Zoning | LB | ||
| Price | $799,000 |
| Price Per Unit | $159,800 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.37 AC |
| Building Size | 4,500 SF |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | LB |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Kitchen
- Oven
- Range
- Tub/Shower
- Views
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Picnic Area
- Playground
- Grill
- Trash Pickup - Curbside
- Walk-Up
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PROPERTY TAXES
| Parcel Number | 034G-A-001.02 | Improvements Assessment | $41,120 |
| Land Assessment | $13,880 | Total Assessment | $55,000 |
PROPERTY TAXES
Parcel Number
034G-A-001.02
Land Assessment
$13,880
Improvements Assessment
$41,120
Total Assessment
$55,000
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106 King Ave
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