Twin Oaks Apartments in Dandridge, TN offers an excellent investment opportunity. The all-brick, eight building complex plus a free-standing residence and a laundry building is located just off Highway 92, a little more than a mile from Interstate 40 (Exit 417). Highway 92 is the main route into Dandridge, the county seat of Jefferson County.
The highway is lined with groceries, banks, gas stations, quick-service restaurants and many other retail vendors. Jefferson County Circuit Court and Sheriff’s office are located just north of the property along with a number of industrial employers in an industrial park.
Twin Oaks provides work-force or retiree housing for the area including Dandridge, Jefferson City, Morristown and Sevierville/Gatlinburg/Pigeon Forge. There are no voucher or other subsidized tenants in the complex. Unit mix is twenty-four two-bedroom flats, sixteen one-bedroom flats and a two-bedroom residence with a garage which make for an excellent rental history. All units have one bathroom.
The property stays rented! As units turn, the sellers have refurbished them with new kitchen counters and appliances, bathrooms with new vanities and water closets and refinished or new tub and shower enclosures. Flooring has been replaced with sheet vinyl in ground floor units and carpet and sheet vinyl in second floor units. All units have double-glazed, aluminum framed windows.
HVACs are central split systems of varying ages. Cable service is available from Spectrum and Comcast at tenant expense. Tenants pay their own electric use if individually metered or pay water and sewer through a RUBS program.
