4446 Shangrila Way, Roof Top RendezView, Sevierville, TN 37876

$1,125,000
Property Type: Residential Bedrooms: 4 Baths: 5 Square Footage: 2,914 Lot Size (sq. ft.): 436 Status: Closed
Current Price: $1,125,000 List Date: 2/28/2024 Last Modified: 8/30/2024

Description

“Rooftop RendezView” presents an incredible opportunity to purchase a recently built mountain view rental cabin with the best location between Pigeon Forge and Gatlinburg (only a 2 – 3 mile drive to both!) with no crazy steep roads on the one-mile route to/from the Parkway. From the spacious distinctive rooftop deck, see magnificent views of the Smoky Mountains from this large 3 story cabin. This is no cookie-cutter square cabin as it was built in the popular mountain modern style with amenities that make this cabin stand out from the rest, including a private theater room with tiered plush theater-style seating for 8 and huge 85-inch Sony 4K TV; a game room with a pool table, air hockey, and Multicade with many classic games; unique modern linear gas fireplace; flat parking for 4 vehicles; EV charger; fast Wifi; relaxing large hot tub; and a rooftop deck with a 81” long resort-style gas firepit table with enough seating options for 12 guests. Dream kitchen with stainless steel appliances, granite countertops, massive island with seating and long dining table. Rooftop RendezView has enough room for multiple families in the cabin's four bedrooms (three kings and one queen), each having a dedicated full ensuite bathroom and flat screen TV. Two of the bedrooms have additional sleeping options to get the sleeping occupancy up to 12 - a full size pullout sofa in the main floor bedroom and a twin daybed with a twin trundle in the upper floor bedroom. The current meticulous housekeeping and maintenance crews can continue maintaining the cabin and the Superhost owner is willing to transfer reservations and her knowledge to the lucky new owners so the cabin is ready for rental on day 1 of ownership. The rental income is excellent with rental revenues of $237K since it was officially launched in mid-April 2022 through January 2024 ($208K excluding cleaning fee revenue). 2023 rental revenues did not disappoint with $127K ($111K excluding cleaning fee revenue) since 2023 was considered a down year after the Covid boom. Current owners are selling the cabin to invest the proceeds in building a large cabin on a lot they have already purchased. This cabin checks all of the boxes for a productive cabin investment in our area including a convenient location, no steep roads, mountain view, distinctive amenities, recent (2022) high end quality construction, and an outstanding rental performer with a guest favorite designation on Airbnb and a perfect 5 stars from all 21 Airbnb guest reviews.

More Information MLS# 268613

Location, Tax, and Legal

Street Additional Info: Roof Top RendezView Restrictive Covenants YN: Yes Zoning: R-1 Zoning Entity: Sevier County Tax Lot: 9 Book/Page/Doc #: 5895, 34 Tax Annual Amount: 2178.56 Tax Year: 2022

Contract Information

Association Type: Mandatory Owner Name: Shangrila Lot 9 LLC Listing Agreement: Exclusive Right To Sell Occupancy: Either Common Interest: Planned Development Rental History Gross Amount 1: 127000 Rental History Year 1: 2023 Association YN: Yes Association Fee: 100 Association Fee Frequency: Monthly Association Name: Mountain Shangrila HOA Association Email: n/a Current Price: $1,125,000 Original List Price: 1199000 Sold Price: $1,125,000 Status: Closed Listing Contract Date: 2024-02-27

General Property Information

Lot Size Acres: 0.01 Above Grade Finished Area: 2022 Below Grade Finished Area: 892 Below Grade Unfinished Area: 368 Bathrooms Half: 1 Garage Spaces: 0 Bonus Room YN: No Furnished: Furnished Accessory Dwelling Unit YN: No Sign On Property YN: No Home Warranty YN: No Construction Type: Site Built View YN: Yes List Price/SqFt: 411.46 Sold Price/SqFt: 386.07 Living Area: 2914 Bedrooms Total: 4 Bathrooms Total: 5 Bathrooms Full: 4 Year Built: 2022

Remarks and Miscellaneous

Public Remarks: “Rooftop RendezView” presents an incredible opportunity to purchase a recently built mountain view rental cabin with the best location between Pigeon Forge and Gatlinburg (only a 2 – 3 mile drive to both!) with no crazy steep roads on the one-mile route to/from the Parkway. From the spacious distinctive rooftop deck, see magnificent views of the Smoky Mountains from this large 3 story cabin. This is no cookie-cutter square cabin as it was built in the popular mountain modern style with amenities that make this cabin stand out from the rest, including a private theater room with tiered plush theater-style seating for 8 and huge 85-inch Sony 4K TV; a game room with a pool table, air hockey, and Multicade with many classic games; unique modern linear gas fireplace; flat parking for 4 vehicles; EV charger; fast Wifi; relaxing large hot tub; and a rooftop deck with a 81” long resort-style gas firepit table with enough seating options for 12 guests. Dream kitchen with stainless steel appliances, granite countertops, massive island with seating and long dining table. Rooftop RendezView has enough room for multiple families in the cabin's four bedrooms (three kings and one queen), each having a dedicated full ensuite bathroom and flat screen TV. Two of the bedrooms have additional sleeping options to get the sleeping occupancy up to 12 - a full size pullout sofa in the main floor bedroom and a twin daybed with a twin trundle in the upper floor bedroom. The current meticulous housekeeping and maintenance crews can continue maintaining the cabin and the Superhost owner is willing to transfer reservations and her knowledge to the lucky new owners so the cabin is ready for rental on day 1 of ownership. The rental income is excellent with rental revenues of $237K since it was officially launched in mid-April 2022 through January 2024 ($208K excluding cleaning fee revenue). 2023 rental revenues did not disappoint with $127K ($111K excluding cleaning fee revenue) since 2023 was considered a down year after the Covid boom. Current owners are selling the cabin to invest the proceeds in building a large cabin on a lot they have already purchased. This cabin checks all of the boxes for a productive cabin investment in our area including a convenient location, no steep roads, mountain view, distinctive amenities, recent (2022) high end quality construction, and an outstanding rental performer with a guest favorite designation on Airbnb and a perfect 5 stars from all 21 Airbnb guest reviews. Directions: From HWY 441 (SPUR) take Gnatty branch road. In one mile turn left into Mountain Shangri-La. in .2 cabin will be on your right.

Status Change Information

Status Change Timestamp: 2024-04-18 Buyer Financing: Conventional Concessions Comments: Seller paid closing costs of $21,500.00 Anticipated Closing Date: 2024-04-11 Major Change Timestamp: 2024-04-18T17:21:57Z Major Change Type: Status Change Purchase Contract Date: 2024-03-10 Close Date: 2024-04-15 Close Price: 1125000

Appliances

Dishwasher: 1 Dryer: 1 Electric Range: 1 Microwave: 1 Refrigerator: 1 Washer: 1

Architectural Style

Cabin: 1 Chalet: 1 Contemporary: 1 Craftsman: 1

Basement

Basement: 1 Finished: 1

Construction Materials

Frame: 1

Cooling

Central Air: 1 Electric: 1

Exterior Features

Rain Gutters: 1

Fireplace Features

Electric: 1

Heating

Heat Pump: 1

Interior Features

Cathedral Ceiling(s): 1 Ceiling Fan(s): 1 Great Room: 1 High Speed Internet: 1 Solid Surface Counters: 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

Private: 1

Parking Features

Driveway: 1 Paved: 1

Patio And Porch Features

Deck: 1

Pool Features

Hot Tub: 1

Possession

Close Of Escrow: 1

Road Surface Type

Paved: 1

Security Features

Smoke Detector(s): 1

Sewer

Shared Septic: 1

View

Mountain(s): 1

Water Source

Shared Well: 1

Window Features

Window Treatments: 1

Showing Requirements

Showing Instructions: To show text Gina 865-257-7105 or call list office. "ROOF TOP RENDEZVIEW" All listing information deemed reliable but not guaranteed, buyer should verify all information independently. Linens, towels, cable, Wi-Fi equipment, and items in the owners' closets do not convey.

Historical Information

Public Historical Remarks: Interior Features: Large Primary Bedroom

Location Tax and Legal

Street Number: 4446 Street Name: Shangrila Street Suffix: Way County: Sevier State: TN Zip Code: 37876 Property Sub Type: Single Family Residence MLS Area Major: Pigeon Forge Subdivision Name: Mountain Shangrila

Property Features

Appliances: Dishwasher; Dryer; Electric Range; Microwave; Refrigerator; Washer Architectural Style: Cabin; Chalet; Contemporary; Craftsman Basement: Basement; Finished Construction Materials: Frame Cooling: Central Air; Electric Exterior Features: Rain Gutters Fireplace Features: Electric Heating: Heat Pump Interior Features: Cathedral Ceiling(s); Ceiling Fan(s); Great Room; High Speed Internet; Solid Surface Counters Laundry Features: Electric Dryer Hookup; Washer Hookup Levels: Three Or More Listing Terms: 1031 Exchange; Cash; Conventional Lot Features: Private Parking Features: Driveway; Paved Patio And Porch Features: Deck Pool Features: Hot Tub Possession: Close Of Escrow Road Surface Type: Paved Security Features: Smoke Detector(s) Sewer: Shared Septic View: Mountain(s) Water Source: Shared Well Window Features: Window Treatments
Listing Office: Smoky Mountain Real Estate Cor
Last Updated: August - 30 - 2024
Information deemed reliable but not guaranteed.