Unicoi TN Multi Family for Sale
$499,000
2353 Highway 107 Unicoi, TN 37692
- Type:
- Other
- Sq.Ft.:
- 5,000
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 1.88 Acres
- Year built:
- 2020
- Baths:
- MLS#:
- 9967598
- Subdivision:
- Not In Subdivision
View additional info
Courtesy: KW Johnson City
423-433-6500
ADDITIONAL INFORMATION
Watch the video tour at https://vimeo.com/963738689 and see for yourself the potential of this property. $49,800 Gross Income/Yr. $35,700 Net Operating Income. 3-Unit 5,100 sq ft MF with Creekside RV Park Approved Plans for Future Income Stream. Situated on 1.9 acres of opportunity! With many possibilities, this property has been recently renovated with 3 constructed townhomes. (completed Jan 2024). The garage loft (Unit 1) rents for $1500/mo. 2400 sq ft multi-use space including 1 BR/1 BA, kitchen, dining, laundry set up (w/ washer/dryer), & HUGE upstairs loft room overlooking the open garage space housing 10' drive-thru garage doors, perfect for pulling in large vehicles. Has its own entrance. Two of the condos are 1,300 sq ft ea (2 BR/2 FULL BA). Lower level has 1 BR/1 BA, kitchen, LR. Upstairs has 1 BR/1 BA, LR, & office/loft, complete with high ceilings! Entry to these 2 condos is through main foyer adding extra security & direct access to a shared laundry room. Owner put $30k into the start of an RV Park, including clearing of trees & grade work for 7 spots (4 spots approved for septic, water, & electric & 3 more spots for water & electric only). 2nd septic tank already installed under ground in TDEC approved septic field for RV's (buyer will be responsible for completion of running water/electric to the spots and connecting to septic field). Separate water & electrical meter installed for lots as well (building has its own meters for townhomes). On the back of the building, there are two 50 amp plugs that can power 2 RVs currently. NETN average monthly RV rates are $250-$500 per month (all inclusive=water/sewer/cable) on gravel. NETN average nightly RV rates are $70-$90 per night (all inclusive) on gravel. Concrete pads get more. Electric/water without sewer get less. Conservative estimate is an additional $15K/yr GI & $12K/yr NOI for monthly RV rentals, pushing GI to $69K & NOI to $51K, after RV park completion.
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Unicoi Real Estate
The median home value in Unicoi, TN is $367,500. This is higher than the county median home value of $120,500. The national median home value is $219,700. The average price of homes sold in Unicoi, TN is $367,500. Approximately 62.27% of Unicoi homes are owned, compared to 22.8% rented, while 14.94% are vacant. Unicoi real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Unicoi real estate agent to arrange a tour today!
Unicoi, Tennessee has a population of 3,556. Unicoi is more family-centric than the surrounding county with 27.04% of the households containing married families with children. The county average for households married with children is 25.49%.
The median household income in Unicoi, Tennessee is $39,500. The median household income for the surrounding county is $36,576 compared to the national median of $57,652. The median age of people living in Unicoi is 41 years.
Unicoi Weather
The average high temperature in July is 85.5 degrees, with an average low temperature in January of 26.7 degrees. The average rainfall is approximately 50.8 inches per year, with 8.2 inches of snow per year.