$2,500,000
Morristown, TN 37813
MLS# 1304724
Status: Closed
12801 sqft
1 / 5
Property Description
Brand New Construction Multi-Family Investment Property - 12 Fully Leased Units in Morristown, TN Introducing an outstanding investment opportunity with three newly built 4-unit apartment buildings in the thriving market of Morristown, Tennessee. Completed in 2024, this brand new construction multi-family asset features 12 spacious, tenant-occupied units offering immediate income and long-term growth potential. Each unit boasts a well-designed 3-bedroom, 2-bathroom floor plan with 1,054 square feet of living space, offering modern interiors, open layouts, and durable finishes. Every building includes one ADA-compliant, handicap-accessible unit, enhancing accessibility and broadening tenant appeal. Property Highlights: - Total of 12 units (3 buildings with 4 units each) - Each unit: 3 bedrooms / 2 bathrooms / 1,054 sq. ft. - One handicap-accessible unit per building (3 total) - Fully leased - stabilized with immediate rental income - Completed in 2024 - low-maintenance, turnkey investment - Located in a strong rental market with continued growth Pro forma available upon request. Whether you're a seasoned investor or entering the multifamily space, this property offers a unique chance to own high-quality, newly constructed units with strong occupancy in a desirable location. Seize this opportunity to add a stable, income-producing asset to your portfolio in one of East Tennessee's most promising rental markets. Information contained in this listing is deemed reliable. Buyer to independently verify and perform due diligence to confirm information is accurate.
Details
Location, Tax & Legal Info
Area: Hamblen County - 38
City/County Code: City Limits
Total Tax: 0
Contract Info
Auction Y/N: No
Listing Price: 2700000
Current Price: $2,500,000
Status: Closed
Listing Date: 2025-06-13
General Property Description
Lot Dimensions: 300x150
Utilities/Mo Avg: 180
Property Status: N/A
Driveway: Yes
SqFt - Total (Aprox): 12801
Number of Units: 12
Year Built: 2024
Remarks & Misc
Directions: GPS-friendly and easy to access. Once on Barkley Landing Drive, continue straight up the hill. A newly built complex will be on your left. Buildings are black and white in color.
Public Remarks: Brand New Construction Multi-Family Investment Property - 12 Fully Leased Units in Morristown, TN
Introducing an outstanding investment opportunity with three newly built 4-unit apartment buildings in the thriving market of Morristown, Tennessee. Completed in 2024, this brand new construction multi-family asset features 12 spacious, tenant-occupied units offering immediate income and long-term growth potential.
Each unit boasts a well-designed 3-bedroom, 2-bathroom floor plan with 1,054 square feet of living space, offering modern interiors, open layouts, and durable finishes. Every building includes one ADA-compliant, handicap-accessible unit, enhancing accessibility and broadening tenant appeal.
Property Highlights:
- Total of 12 units (3 buildings with 4 units each)
- Each unit: 3 bedrooms / 2 bathrooms / 1,054 sq. ft.
- One handicap-accessible unit per building (3 total)
- Fully leased - stabilized with immediate rental income
- Completed in 2024 - low-maintenance, turnkey investment
- Located in a strong rental market with continued growth
Pro forma available upon request. Whether you're a seasoned investor or entering the multifamily space, this property offers a unique chance to own high-quality, newly constructed units with strong occupancy in a desirable location.
Seize this opportunity to add a stable, income-producing asset to your portfolio in one of East Tennessee's most promising rental markets.
Information contained in this listing is deemed reliable. Buyer to independently verify and perform due diligence to confirm information is accurate.
Income/Expenses
Gross Annual Income: 244000
Annual Oper Expenses: 39000
Property Sub-Type
Apartment: 1
Four Plex: 1
Construction
Frame: 1
Type of Units
3 or more Bdrm Units: 1
Handicap: 1
Unfurnished: 1
Siding
Vinyl: 1
Sale Includes
Building and Land: 1
No Furnishings: 1
Miscellaneous
Balcony: 1
Patio: 1
TV Cable Available: 1
Utility Room: 1
Washer/Dryer Cnctns: 1
Cooling
Ceiling Fan(s): 1
Central Cooling: 1
Floors
Other: 1
Garage/Parking
On Premise Parking: 1
Tenant Expenses
Cooling: 1
Electricity: 1
Heating: 1
Sewer: 1
Tenant Pays All Util: 1
Trash Collection: 1
Water: 1
Owner Expenses
Electricity: 1
HVAC Maintenance: 1
Insurance: 1
Lawn Maintenance: 1
Leasing Fees: 1
Taxes: 1
Fuel
Electric: 1
Heat
Central: 1
Appliances
Dishwasher: 1
Microwave: 1
Range: 1
Refrigerator: 1
Self Cleaning Oven: 1
Smoke Detector: 1
Other Rooms
Family Room: 1
Roof
Shingle: 1
Exterior Features
Balcony: 1
Cable Available (TV Only): 1
Deck: 1
Handicap Accessible: 1
Patio: 1
Misc Features
Internet Available: 1
Pantry: 1
Washer/Dryer Connect: 1
Wired for DSL: 1
Wired for Internet: 1
New Financing
Call Listing Agent: 1
Cash: 1
Conventional: 1
Exchange: 1
Location Tax Legal Info
House #: 305-365
Street Name: Barkley Landing
St Suffix: Drive
State/Province: TN
Zip Code: 37813
PIN #: 042J C 010.00
Subdivision: BARKLEY LANDING APTS REV LOTS 9,10,11,12
Geo Lat: 36.195549
Geo Lon: -83.282413
Status Change Info
Status Change Date: 2026-02-10
Under Contract Date: 2025-10-16
Sold Date: 2026-02-09
Sold Price: $2,500,000
Property Features
Property Sub-Type: Apartment; Four Plex
Type of Units: 3 or more Bdrm Units; Handicap; Unfurnished
Sale Includes: Building and Land; No Furnishings
Floors: Other
Tenant Expenses: Electricity; Sewer; Tenant Pays All Util; Trash Collection; Water
Owner Expenses: Electricity; HVAC Maintenance; Insurance; Lawn Maintenance; Leasing Fees; Taxes
Fuel: Electric
Heat: Central
Cooling: Ceiling Fan(s); Central Cooling
Appliances: Dishwasher; Microwave; Range; Refrigerator; Self Cleaning Oven; Smoke Detector
Construction: Frame
Roof: Shingle
Siding: Vinyl
Exterior Features: Balcony; Cable Available (TV Only); Deck; Handicap Accessible; Patio
Misc Features: Internet Available; Pantry; Washer/Dryer Connect; Wired for DSL; Wired for Internet
Other Rooms: Family Room
Miscellaneous: Balcony; Patio; TV Cable Available; Utility Room; Washer/Dryer Cnctns
New Financing: Call Listing Agent; Cash; Conventional; Exchange
IDX
Listing Office: Prime Mountain Properties
Office Phone: 865-453-4049
Last Updated: February - 11 - 2026
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.