1705 Ogle Road, Gatlinburg, TN 37738
$2,500,000
Property Type:
Commercial Sale
Square Footage:
21,500
Lot Size (sq. ft.):
65,776
Status:
Closed
Current Price:
$2,500,000
List Date:
1/24/2022
Last Modified:
8/23/2024
Description
Great Complex for sale! Walk to GP, Rocky Top Sports Complex and Mills Park! The location is incredible! Laundry facility onsite that generates $9000/yr. 21 units; 19 2/1.5ba, 1-1/1.5ba, 1-3/2.5ba. 7 of 21 units have been remodeled. This complex has been well cared for and has a lot of potential! 100% occupancy with vetted tenants and professional management company. With all units remodeled the projections top $279K gross annually!
More Information MLS# 247030
Location, Tax, and Legal
Restrictive Covenants YN: Yes
Zoning: R-2
Zoning Entity: Gatlinburg
Parcel Number: 118 26.01
Tax Lot: 2
Tax Annual Amount: 9156.6
Tax Year: 2019
Contract Information
Owner Name: JRB Holdings
Rental History Gross Amount 1: 220000
Rental History Year 1: 2021
Rental History Gross Amount 2: 197000
Rental History Year 2: 2021
Current Price: $2,500,000
Original List Price: 2500000
Sold Price: $2,500,000
Status: Closed
Listing Contract Date: 2022-01-24
General Property Information
Number Of Buildings: 3
Lot Size Dimensions: 327/231/IRR/317
Lot Size Acres: 1.51
Business Name: Silver Birch Townhomes
Bonus Room YN: No
Number of Bonus Rooms: 0
Sign On Property YN: No
List Price/SqFt: 116.28
Sold Price/SqFt: 116.28
Living Area: 21500
Year Built: 2004
Remarks and Miscellaneous
Public Remarks: Great Complex for sale! Walk to GP, Rocky Top Sports Complex and Mills Park! The location is incredible! Laundry facility onsite that generates $9000/yr. 21 units; 19 2/1.5ba, 1-1/1.5ba, 1-3/2.5ba. 7 of 21 units have been remodeled. This complex has been well cared for and has a lot of potential! 100% occupancy with vetted tenants and professional management company. With all units remodeled the projections top $279K gross annually!
Directions: From 321; turn L on Mills Park Rd, travel 1 mile to R on Ogle Rd. Apartments immediately on L.
Status Change Information
Status Change Timestamp: 2022-05-04
Buyer Financing: Conventional
Major Change Timestamp: 2022-05-04T05:39:38Z
Major Change Type: Status Change
Purchase Contract Date: 2022-01-28
Close Date: 2022-05-04
Close Price: 2500000
Currently Not Used
Book/Page/Doc #: 4985, 708
Basement
None: 1
Community Features
Sidewalks: 1
Construction Materials
Frame: 1
Vinyl Siding: 1
Cooling
Central Air: 1
Electric: 1
Documents Available
Financial Statement: 1
Exterior Features
Lighting: 1
Heating
Central: 1
Listing Terms
Cash: 1
Conventional: 1
Fee Simple Improved: 1
Other Structures
Outbuilding: 1
Parking Features
On Site: 1
Road Frontage Type
County Road: 1
Road Surface Type
Paved: 1
Utilities
Electricity Connected: 1
Water Connected: 1
Income and Expenses
Maintenance Expense: 50
Tenant Pays
Electricity: 1
Possible Use
Multi-Family: 1
Building Features
Inventory: 1
Number Of Restrooms: 21
Storage: 1
Business Type
Residential: 1
Showing Requirements
Showing Instructions: Unit 14 is available for showing. Additional units to be made available during inspection period. Some tenants are in a rent increase conversion.
Location Tax and Legal
Street Number: 1705
Street Name: Ogle
Street Suffix: Road
County: Sevier
State: TN
Zip Code: 37738
Property Sub Type: Other
MLS Area Major: Gatlinburg
Subdivision Name: Other
Property Features
Basement: None
Building Features: Inventory; Storage
Business Type: Residential
Community Features: Sidewalks
Construction Materials: Frame; Vinyl Siding
Cooling: Central Air; Electric
Documents Available: Financial Statement
Exterior Features: Lighting
Heating: Central
Listing Terms: Cash; Conventional; Fee Simple Improved
Other Structures: Outbuilding
Parking Features: On Site
Possible Use: Multi-Family
Road Frontage Type: County Road
Road Surface Type: Paved
Tenant Pays: Electricity
Utilities: Electricity Connected; Water Connected
Listing Office:
Skye Realty
Last Updated: August - 23 - 2024
Information deemed reliable but not guaranteed.