8160 Rutledge Pike, Rutledge, TN 37861

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/month 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.

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/month 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.