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    1231 Pine Mountain Way

    Sevierville, TN 37862
    • $3,300,000
    • STATUS: Active Under Contract
    • ON SITE: 25 Days
    • ID#: 245234
    Under Contract
    UPDATED: 105 min ago
    $3,300,000
    • 0
      BEDS
    • 11.59
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,391
      SQFT
    • $229
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1992
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Mountain Realty Group.


    Description

    Eight income-producing properties on 11 acres located minutes from Pigeon Forge and Wears Valley! HUGE VIEWS! This is an opportunity to purchase 8 properties at once in a highly desirable location! The sellers are currently operating 7 of the properties as long-term rentals (with weekly agreements with tenants.) With all 7 properties in operation, they were grossing $160,000 a year. Potential to more than TRIPLE that number if they were put on overnight/STR rental! One of the cabins is private and separate from others. It is a custom built 4 bed/5 bath cabin with STR projections of up to $200,000/year. The group of 7 cabins details as follows: Cabin #1 is a 4920 sq ft lodge that has been converted into 9 individual apartments. Each apartment is 1 bed/1 bath with kitchen and living area. This property alone is bringing in $7300/month income. Cabin #2 is 912 sq ft with 2 bed/2 bath. It is currently vacant and needs some repairs, but it was bringing in $1100/month. Cabin #3 is 864 sq ft with 2 bed/ 2 bath. It is also currently vacant and needs some repairs. It was bringing in $1200/month. Cabins #4, #5, and #6 are all 816 sq ft with 1 bed/1 bath and are bringing in $3100/week. Cabin #7 is 1244 sq ft with 2 bed/2 bath and is bringing in $1100/month. You could continue renting the properties to long-term renters, revamp them for overnight rental or do a mixture of both! There is additional revenue potential on the property as well. A gazebo and small building convey with the sale. They were being used at one time for events and weddings. Amazing mountain views looking over Pigeon Forge would make for a great backdrop for a wedding or other occasion! We have compiled data on projections of renovation costs and potential rental income for someone who would like to convert properties to STR. We are happy to share this information with serious buyers! Other information is on file, such as expenses, septic permits, property survey, etc. Don't miss this amazing and unique opportunity to own SEVEN income-producing properties in the Great Smoky Mountains, the most visited National Park in the United States! *Drone photogrpahy used in some photos.

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    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Billy Houston Group | Realty Executives. Information deemed reliable but not guaranteed. Last updated 2021-10-24T00:15:30.877.
    www.billyhoustongroup.com/homes/121865720
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    1231 Pine Mountain Way Sevierville, TN 37862

    • Price: $3,300,000
    • Status: Active Under Contract
    • Updated: 105 min ago
    • ID#: 245234
    0
    Beds
    0
    Baths
    0
    ½ Baths
    11.59
    Acres
    14,391
    SQFT
    $229
    $/SQFT
    1992
    Built
    Neighborhood:
    None
    County:
    Sevier
    Area:
    Pigeon Forge
    Property Description
    Eight income-producing properties on 11 acres located minutes from Pigeon Forge and Wears Valley! HUGE VIEWS! This is an opportunity to purchase 8 properties at once in a highly desirable location! The sellers are currently operating 7 of the properties as long-term rentals (with weekly agreements with tenants.) With all 7 properties in operation, they were grossing $160,000 a year. Potential to more than TRIPLE that number if they were put on overnight/STR rental! One of the cabins is private and separate from others. It is a custom built 4 bed/5 bath cabin with STR projections of up to $200,000/year. The group of 7 cabins details as follows: Cabin #1 is a 4920 sq ft lodge that has been converted into 9 individual apartments. Each apartment is 1 bed/1 bath with kitchen and living area. This property alone is bringing in $7300/month income. Cabin #2 is 912 sq ft with 2 bed/2 bath. It is currently vacant and needs some repairs, but it was bringing in $1100/month. Cabin #3 is 864 sq ft with 2 bed/ 2 bath. It is also currently vacant and needs some repairs. It was bringing in $1200/month. Cabins #4, #5, and #6 are all 816 sq ft with 1 bed/1 bath and are bringing in $3100/week. Cabin #7 is 1244 sq ft with 2 bed/2 bath and is bringing in $1100/month. You could continue renting the properties to long-term renters, revamp them for overnight rental or do a mixture of both! There is additional revenue potential on the property as well. A gazebo and small building convey with the sale. They were being used at one time for events and weddings. Amazing mountain views looking over Pigeon Forge would make for a great backdrop for a wedding or other occasion! We have compiled data on projections of renovation costs and potential rental income for someone who would like to convert properties to STR. We are happy to share this information with serious buyers! Other information is on file, such as expenses, septic permits, property survey, etc. Don't miss this amazing and unique opportunity to own SEVEN income-producing properties in the Great Smoky Mountains, the most visited National Park in the United States! *Drone photogrpahy used in some photos.
    Exterior Features

    Access Private DriveGravelPrivate Road Construction Wood SidingLogLog Siding Garage Capacity 0.00 Garage Type None

    Interior Features

    Bonus Rooms Yes Cooling Central Electric Fireplace 3 Or MoreWoodburning Heating Central Number Of Efficiency Units 0 Number Of One Bedroom Units 11 Number Of Three Bedroom Units 0 Number Of Two Bedroom Units 4 Sq Ft Unfinished Basement 0

    Property Features

    Annual Tax 6094.00 District 05 Hoa YN No Lot Block Unit 0 Miscellaneous Mountain View Multifamily Type Other Multi-Family Occupancy Either Owner Financing No Proposed Financing CashConventional1031 Exchange Rental Rental History Restrictive Covenants No Sewer Septic System Tax Year 2019 Water WellShared Well Zoning R-1 Zoning Entity Sevier County

    Copyright 2021 Great Smoky Mountains Association of Realtors. Information deemed reliable but not guaranteed. Listing provided courtesy of Mountain Realty Group | Office Phone: 8659082909 .

    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Billy Houston Group | Realty Executives. Information deemed reliable but not guaranteed. Last updated 2021-10-24T00:15:30.877.
     
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    Billy Houston Group | Realty Executives
    124 N Winston Road, Suite 201
    Knoxville TN, 37919
    Listing courtesy of Mountain Realty Group.