108 Howard St is amulti-family property for lease in Maryville, TN.
This investment opportunity contains 6 structures totaling 8,618 SF (per tax records). There are (4) 2 story, 3 bedroom 2 bath homes with 1,296 SF each. There are also (2) 1 story, 2 bedroom 1 bath units with 1,717 SF ea. or 859 SF in each of the 4 apartments.
This complex is Section 8 approved and the rental rates currently are: $890.00 for 3 of the homes, and $825.00 for the 4th home. Again, the SF for each home is 1,296 SF. One of the homes has recently been cleaned and is ready for rental. The 4 apartments rent for $590.00 (for 3) and $625.00 for the 4th. See financials for possible NOI. GRM is 8.7.
The homes were built in 2007 and the apartment buildings in 2001. Note that the asking price is over $30,000 below tax value!
Good Return on Invested Capital for this investment!
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