8160 Rutledge Pike
Rutledge, TN 37861
- – beds
- – baths
- 6,256 sqft
- $29 per sqft
- 1924 build
- – on site
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Great Investment Opportunity! This 7 unit apartment complex was the old ''Rutledge Inn'' in previous years. Located on Rutledge Pike/Highway 11W this building is in the heart of Rutledge and convenient to everything. $2700 per month gross rental income. Building has an additional 2858 sq ft in the basement that could be converted into additional units or office space. Mix of 1 and 2 bedroom units. Apartments have public water and public sewer. Tenants pay for their own water and electric. Approximately $27,000 net income per year. Numerous updates in 2019. 1 bed/1 bath $375/month 1 bed/1 bath $400/month 1 bed/1 bath $375/month 2 bed 2 bath $475/month 2 bed/ 2 bath $500/month 2 bed/ 1 bath $475/month 2 bed/ 1 bath $500/ TOTAL: $3100 / month $37,200 per year EXPENSES: Insurance $2900/year Taxes $1882/year Water $180/year Electric $1800/year Lawn Care $650/year Pest Control $300/year Maintenance $2400/year TOTAL $10,112/YEAR NET INCOME: $27,088 Cap Rate of 13.5% Some units do have pets and they are charged an additional amount, normally $25 extra per month for every 2 pets. The electric bill covers the expense of electric in basement and security lights inside and outside the building. Owners will have electric cut on in individual units when improving.
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Last updated Mar 21, 2024
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MLS# 1101045 —
Walk Score®
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Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
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Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
9/30/20
Sep 30, 2020
|
Sold | KAARMLS | $185,000 |