425 Patterson Lane, Gatlinburg, TN 37738

$999,000
Property Type: Residential Bedrooms: 5 Baths: 4 Square Footage: 3,579 Lot Size (sq. ft.): 33,977 Status: Closed
Current Price: $999,000 List Date: 6/25/2022 Last Modified: 8/28/2024

Description

Amazing opportunity to own a 5 bedroom cabin in a great location and at a great price. This cabin is currently a full time residence but we have rental projections of $180,000 from a local management company. The property is just minutes from the Rocky Top Sports complex and about 10 minutes from downtown Gatlinburg. Sitting on just under an acre of near flat land, this property has a ton of potential as a short term rental, vacation home, or as a permanent residence. The property features plenty of parking, both covered and open. All on flat ground. The main level is an open concept with cathedral ceilings, real woods floors, full kitchen with granite counter tops and plenty of cabinet storage. The dining area is off the kitchen and has its own space with plenty of seating. Living room offers beautiful rustic furniture and a gas fireplace to cozy up to in the winter. The main level also has the over sized main suite with a king bed and huge bathroom. Full utility room with washer/dryer & half bath round out the main level. Upstairs has two large bedrooms with king size beds and the second full bathroom. The lower level offers plenty of opportunity with plenty of space. Currently it is setup as a secondary living area with small kitchen, rec area, and living room. This space would make a great game room or theater space. Bedrooms 4 and 5 are located on the lower level and feature a queen bed and then a twin over full Aspen bunk bed. The third full bathroom is located on this lower level as well. With full walk out access, the lower level goes outside to the wonderful fire pit area and hot tub, all with mountain views. This property has it all and would be a great addition to your portfolio. Property is occupied but easy to show.

More Information MLS# 251463

Location, Tax, and Legal

Restrictive Covenants YN: Yes Zoning: R-1 Zoning Entity: Sevier County Tax Lot: 7 Book/Page/Doc #: 5630, 535 Tax Annual Amount: 1242.82 Tax Year: 2019

Contract Information

Owner Name: Bradshaw Listing Agreement: Exclusive Right To Sell Occupancy: Either Association YN: No Current Price: $999,000 Original List Price: 1075000 Sold Price: $999,000 Status: Closed Listing Contract Date: 2022-06-25

General Property Information

Lot Size Acres: 0.78 Above Grade Finished Area: 2253 Below Grade Finished Area: 1326 Below Grade Unfinished Area: 0 Garage YN: No Bathrooms Half: 1 Garage Spaces: 0 Bonus Room YN: No Furnished: Furnished Accessory Dwelling Unit YN: No Sign On Property YN: Yes Home Warranty YN: No Construction Type: Site Built View YN: Yes List Price/SqFt: 300.36 Sold Price/SqFt: 279.13 Living Area: 3579 Bedrooms Total: 5 Bathrooms Total: 4 Bathrooms Full: 3 Year Built: 1995

Remarks and Miscellaneous

Public Remarks: Amazing opportunity to own a 5 bedroom cabin in a great location and at a great price. This cabin is currently a full time residence but we have rental projections of $180,000 from a local management company. The property is just minutes from the Rocky Top Sports complex and about 10 minutes from downtown Gatlinburg. Sitting on just under an acre of near flat land, this property has a ton of potential as a short term rental, vacation home, or as a permanent residence. The property features plenty of parking, both covered and open. All on flat ground. The main level is an open concept with cathedral ceilings, real woods floors, full kitchen with granite counter tops and plenty of cabinet storage. The dining area is off the kitchen and has its own space with plenty of seating. Living room offers beautiful rustic furniture and a gas fireplace to cozy up to in the winter. The main level also has the over sized main suite with a king bed and huge bathroom. Full utility room with washer/dryer & half bath round out the main level. Upstairs has two large bedrooms with king size beds and the second full bathroom. The lower level offers plenty of opportunity with plenty of space. Currently it is setup as a secondary living area with small kitchen, rec area, and living room. This space would make a great game room or theater space. Bedrooms 4 and 5 are located on the lower level and feature a queen bed and then a twin over full Aspen bunk bed. The third full bathroom is located on this lower level as well. With full walk out access, the lower level goes outside to the wonderful fire pit area and hot tub, all with mountain views. This property has it all and would be a great addition to your portfolio. Property is occupied but easy to show. Directions: From Glades road in Gatlinburg, turn right on to Proffitt Rd and then a right on Patterson. Home will be on the left. See sign.

Status Change Information

Status Change Timestamp: 2022-08-31 Buyer Financing: Cash Anticipated Closing Date: 2022-08-31 Major Change Timestamp: 2022-08-31T17:19:07Z Major Change Type: Status Change Purchase Contract Date: 2022-06-30 Close Date: 2022-08-31 Close Price: 999000

Appliances

Dishwasher: 1 Disposal: 1 Dryer: 1 Electric Range: 1 Microwave: 1 Range Hood: 1 Refrigerator: 1 Self Cleaning Oven: 1 Washer: 1

Architectural Style

Cabin: 1 Cottage: 1 Country: 1

Attic Features

None: 1

Basement

Basement: 1 Exterior Entry: 1 Finished: 1 Walk-Out Access: 1

Construction Materials

Block: 1 Frame: 1 Log Siding: 1 Wood Siding: 1

Cooling

Central Air: 1 Electric: 1 Heat Pump: 1

Exterior Features

Rain Gutters: 1 Storage: 1

Fireplace Features

Gas Log: 1

Flooring

Wood: 1

Heating

Central: 1 Electric: 1 Heat Pump: 1

Interior Features

Cathedral Ceiling(s): 1 Ceiling Fan(s): 1 High Speed Internet: 1 In-Law Floorplan: 1 Solid Surface Counters: 1 Walk-In Closet(s): 1 Wet Bar: 1

Laundry Features

Electric Dryer Hookup: 1 Washer Hookup: 1

Levels

Three Or More: 1

Listing Terms

1031 Exchange: 1 Cash: 1 Conventional: 1

Lot Features

Level: 1

Other Structures

Shed(s): 1 Storage: 1

Parking Features

Driveway: 1 Paved: 1

Patio And Porch Features

Covered: 1 Deck: 1 Patio: 1

Pool Features

Hot Tub: 1

Possession

Close Of Escrow: 1

Road Frontage Type

City Street: 1

Road Surface Type

Paved: 1

Roof

Composition: 1

Security Features

Smoke Detector(s): 1

Sewer

Public Sewer: 1

Utilities

Cable Available: 1

View

Mountain(s): 1

Water Source

Public: 1

Showing Requirements

Appointment Only: 1 Lockbox: 1 Showing Instructions: Property is easy to show but is owner occupied and does require a few hours notice. To schedule a showing, call/text Christian Maloney at 865-809-3344. Rental projection supplied by Mitch Thompson with Venture Resorts. **ALL OFFERS TO INCLUDE ALL ASSOCIATED DOCUMENT DISCLOSURES** and to be sent to matthew@anniemaloney.com. **The following items will not convey with the cabin and must be excluded on the bill of sale: Outside - grills (2), storage bins (2), single & double ladder back rockers, yard art goat - Inside - small clock on entry table, duck taxidermy (2 ducks), electric fireplace (master bedroom), bedside lamps (master bedroom), exercise equipment (bike, treadmill, weights, etc). See Remarks: 1

Historical Information

Public Historical Remarks: Interior Features: Large Primary Bedroom

Location Tax and Legal

Street Number: 425 Street Name: Patterson Street Suffix: Lane County: Sevier State: TN Zip Code: 37738 Property Sub Type: Single Family Residence MLS Area Major: Gatlinburg Subdivision Name: Other

Property Features

Appliances: Dishwasher; Disposal; Dryer; Electric Range; Microwave; Range Hood; Refrigerator; Self Cleaning Oven; Washer Architectural Style: Cabin; Cottage; Country Attic Features: None Basement: Basement; Exterior Entry; Finished; Walk-Out Access Construction Materials: Block; Frame; Log Siding; Wood Siding Cooling: Central Air; Electric; Heat Pump Exterior Features: Rain Gutters; Storage Fireplace Features: Gas Log Flooring: Wood Heating: Central; Electric; Heat Pump Interior Features: Cathedral Ceiling(s); Ceiling Fan(s); High Speed Internet; In-Law Floorplan; Solid Surface Counters; Walk-In Closet(s); Wet Bar Laundry Features: Electric Dryer Hookup; Washer Hookup Levels: Three Or More Listing Terms: 1031 Exchange; Cash; Conventional Lot Features: Level Other Structures: Shed(s); Storage Parking Features: Driveway; Paved Patio And Porch Features: Covered; Deck; Patio Pool Features: Hot Tub Possession: Close Of Escrow Road Frontage Type: City Street Road Surface Type: Paved Roof: Composition Security Features: Smoke Detector(s) Sewer: Public Sewer Utilities: Cable Available View: Mountain(s) Water Source: Public Showing Requirements: Appointment Only; Lockbox; See Remarks
Listing Office: Prime Mountain Properties
Last Updated: August - 28 - 2024
Information deemed reliable but not guaranteed.