1117 S Tellico St Madisonville, TN 37354

Listing details for 1117 S Tellico St, Madisonville, TN 37354 : Riverbirch Apartment complex located minutes from downtown Madisonville, shopping, schools, and restaurants. Property has great potential with 3 acres, 19 total units, and laundry. 16 units are 2 bedroom and 3 units are single bedrooms. 10 units are currently rented. All utilities available. Property does need T.L.C. and an upgrade on rents. Seller is retiring and motivated. Buyer to verify information and square footage. Property can be purchased at a lower price without Lot 24 (fronting Helms Dr). 10 total units are currently rented (9 in the main building, 1 in the small) owner pays water and sewer for all, the 2 bedroom units in the big building the tenants pay $400 and pay their own electric; in the small unit (1 bedroom) they pay $500 and the owner pays their electric. These units need TLC, the owner is retired and has not kept them up or raised rents; if the building was updated the rents could also be adjusted. Some of the units are currently not in shape to rent but there is great potential here.