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Listed by Dessie Hardee • RE/MAX Realty Source
$ 425,000
Est. payment /mo
Active
116 Summer St Martin, TN 38237
2,710 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,710 sqft
Price per Sqft $156
MLS Listing ID 3179490
HOA Y/N No
Year Built 1947
Annual Tax Amount $1,461
Lot Dimensions 88X59.0
Property Description
Quadplex investment opportunity in Martin, TN, just minutes from UT Martin and conveniently located near shopping, dining, and everyday amenities. This fully renovated property features four units, including two spacious 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units, offering a versatile unit mix that appeals to a wide tenant base.
Extensive renovations have been completed throughout all four units, making this a true turnkey opportunity. Exterior improvements include vinyl siding, replacement windows, updated lighting, fresh paint, and enhanced landscaping for strong curb appeal. Interior updates feature new paint, updated trim and doors, modern light fixtures, new mini blinds, and a combination of refinished hardwood floors and durable vinyl plank flooring in the kitchens, bathrooms, and hallways.
Kitchens have been upgraded with new cabinetry, butcher block countertops in select units, and new stainless steel appliances, including stoves and refrigerators. Bathrooms have been refreshed with new vanities, fixtures, commodes, and tub surrounds. Major system updates include HVAC in all units, updated electrical with new panels and meters, and plumbing improvements, including new water heaters and updated lines where needed.
The property also includes a finished shared laundry room with two new washers and two new dryers, adding convenience for tenants. Units 1 and 2 offer larger layouts with living rooms, dining areas, and additional space, while Units 3 and 4 provide efficient upper-level living with finished interiors.
All four units are currently tenant-occupied, providing immediate rental income. Income-generating property with an 8 percent cap rate. A minimum of 24 hours' notice is required for all showings. With strong rental demand driven by its proximity to UT Martin, this property is well-positioned for consistent occupancy and long-term returns. Large units, quality renovations, and a prime in-town location.
Extensive renovations have been completed throughout all four units, making this a true turnkey opportunity. Exterior improvements include vinyl siding, replacement windows, updated lighting, fresh paint, and enhanced landscaping for strong curb appeal. Interior updates feature new paint, updated trim and doors, modern light fixtures, new mini blinds, and a combination of refinished hardwood floors and durable vinyl plank flooring in the kitchens, bathrooms, and hallways.
Kitchens have been upgraded with new cabinetry, butcher block countertops in select units, and new stainless steel appliances, including stoves and refrigerators. Bathrooms have been refreshed with new vanities, fixtures, commodes, and tub surrounds. Major system updates include HVAC in all units, updated electrical with new panels and meters, and plumbing improvements, including new water heaters and updated lines where needed.
The property also includes a finished shared laundry room with two new washers and two new dryers, adding convenience for tenants. Units 1 and 2 offer larger layouts with living rooms, dining areas, and additional space, while Units 3 and 4 provide efficient upper-level living with finished interiors.
All four units are currently tenant-occupied, providing immediate rental income. Income-generating property with an 8 percent cap rate. A minimum of 24 hours' notice is required for all showings. With strong rental demand driven by its proximity to UT Martin, this property is well-positioned for consistent occupancy and long-term returns. Large units, quality renovations, and a prime in-town location.
Location
State TN
County Weakley County
Zoning Commercial
Interior
Heating Other
Cooling Wall/Window Unit(s)
Flooring Luxury Vinyl
Fireplace N
Exterior
Utilities Available Water Available
View Y/N false
Private Pool false
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick,Vinyl Siding
New Construction false
Schools
Elementary Schools Martin Elementary
Middle Schools Martin Middle School
High Schools Westview High School
Others
Senior Community false
Special Listing Condition Standard
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