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1215 Shields Ferry Rd, Morristown, 37814
Priced At: $775,000
Property Details for ID: 1317448
SqFt: 5,360
Price SqFt: $145
Total Bedrooms: ********
Full Baths: ******** / Half Baths: ********
MLS Status: Pending - Continue to Show - Inspection
Property Type: MultiFamily
On Market Date: 2025-10-03T14:47:03Z
Subdivision: Hall Ray D Prop
Public Remarks: RARE EIGHT PLEX IN MORRISTOWN - FULLY RENTED - NEW ROOF - 7.2 CAP RATE!!! This fully rented 8 unit complex offers a strong investment opportunity in a prime location, just minutes away from Walmart and other essential amenities that tenants desire. Built in 1976, the property has been well maintained and is ready for its next owner. This property has undergone recent updates including a new roof with 6 inch gutters, new windows, fresh appliances and unit flooring. Two units have ductless mini splits and the rest have PTAC systems and all units come with washer/dryer connections, stoves and refrigerators. Tenants pay a flat fee for Seller provided WiFi and water and additionally tenants pay their own electric and trash. With its location near major retail and dining options, and access to highways and public services, this 8 unit is an ideal addition to your portfolio. No sign on property and we respectively request that you do not disturb the tenants.
Schools Information
Sorry, school information is not available for this listing.Building Description
SqFt (Total): 5,360
Exterior Features
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Interior Features
Property Details
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Financing
Annual Operating Expenses: 16,144
Net Operating Income: 55,644
HOA Information
Heating & Cooling
Garage / Parking
Community Features
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Up Coming Open Houses
Directions
Take I-40 East To Exit 421 North to Bristol. Take exit 8 to Morristown, 0.5 miles turn right onto Davy Crockett Pkwy to Cumberland Gap Park, in 2 miles turn left onto Old Highway 25E, in 5 miles turn left onto Shields Ferry Rd and keep left. In 150 ft the eight-plex will be on your left.
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This is your Principal & Interest Payment only - you will still have to add HomeOwners Insurance and Taxes for a Total Monthly Payment. The Loan Amount Figure is based on a 20% down payment, Private Mortgage Insurance (PMI) is required with less than a 20% down payment. I can provide you with names of Mortgage Loan Officers that will provide you more details on your payment and total down payment requirements.
Four Reasons to Use Daniel Parker
Buying or Selling real estate should be fun and simple. With me, that's exactly what you can expect. I will strive to make each and every interaction a professional and pleasant experience!