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8 NEW HOUSES 9% CAP SCENIC ATTRACTIONS 59 Redbud trl 8 Unit Apartment Building $749,900 ($93,738/Unit) 8.67% Cap Rate Dunlap, TN 37327
Investment Highlights
- Close to Most Visited State Park in Tennessee and other state parks minute down the road
- 9th house already started for more upside
- New Construction with Metal Roofs and Tounge and Groove finishing
- Under Utilized and could be bringing much higher rents with some completed finishing touched
Executive Summary
8 Houses, 4.26 Acres, Great Air BnB opportunity, Close to attractions... 1st built 2022, with some recently finished. Tenants pay all utilities. Upside potential with some final finishings. Currently under renting for 800 per mo. should conservatively bring 1000-1200 per mo. House #8 in process of being completed. Footer and foundation has been done for one more house that would be the 9th house. Some houses have complete closed in foundations and some are open on pillar and footer. Each house is 1 bed 1 Bath 784 sqft including the covered porch area. 23 minutes from the most visited Fall Creek Falls State Park in Tennessee, 8 minutes from Savage Gulf State Park and 10 Minutes to Downtown Dunlap. Hospitality possibilities with these if you wanted to repurpose them as short term rental cabins.
Property Facts Under Contract
| Price | $749,900 | Apartment Style | Single-Family Home |
| Price Per Unit | $93,738 | Building Class | C |
| Sale Type | Investment | Lot Size | 4.26 AC |
| Cap Rate | 8.67% | Building Size | 6,272 SF |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment |
| Price | $749,900 |
| Price Per Unit | $93,738 |
| Sale Type | Investment |
| Cap Rate | 8.67% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 4.26 AC |
| Building Size | 6,272 SF |
| No. Stories | 1 |
| Year Built | 2022 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Courtyard
- Walking/Biking Trails
- Smoke Detector
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Property Taxes
| Parcel Number | 018-038.02 | Improvements Assessment | $0 |
| Land Assessment | $22,225 | Total Assessment | $22,225 |
Property Taxes
Parcel Number
018-038.02
Land Assessment
$22,225
Improvements Assessment
$0
Total Assessment
$22,225
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8 NEW HOUSES 9% CAP SCENIC ATTRACTIONS | 59 Redbud trl
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