I have been given the opportunity to sell 2 unlisted cabins in Starr Crest Resort. The seller says "sell now". My husband and I, along with my broker and his wife are looking into getting financing on one of these for ourselves.  Just the equity alone is a no lose situation.

"Almost Heaven" is 1792 sq/ft luxury overnight cabin that grossed $54660 in 2005 and $51,950 in 2006. Seller letting go for $340,000. You can view the cabin at http://www.starrcrestresort.com/almostheaven.php

"Almost Perfect" is next door the cabin above and is the same size cabin. It grossed $46,198 in 2005 and $45,845 in 2006. Seller letting go for $340,000. You can view this cabin at http://www.starrcrestresort.com/almostperfect.php

The average sales price is $449,000, in the Starr Crest community. That average is over the last year 2007 and doesn't include the developer buying his own cabins. This is an amazing opportunity to own investment rental property with proven track record in an upscale resort; plus having instant equity (up to $119,000) in the property as soon as you buy the property. Seller says that the 2007 rental numbers are soft due to changing rental companies 3 months ago (he changed during the busiest time of the year).

If you are interested in more information please contact me. I have income/expense spreadsheet for 2006 and 2007ytd from the seller and the list of recent sales from the tax records.

 
Posted by Lisa Hatfield on 10/11/2007 03:07 PM   Comments (1)  
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1 Comments on Great deal on Luxury Cabin in Smoky Mtns

OCT
13
2007
226,587 Points 4 Featured Posts Outside Blog
Lisa:  They are beautiful.  Like the way they used the african theme.  Good luck on a sale.
2:38pm • #1


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Lisa Hatfield

Sevierville, TN

More about me…

Pinnacle Real Estate Services

Address: 322 Conley Drive, Sevierville, TN, 37876

Office Phone: (865) 286-9686

Cell Phone: (865) 680-5241

Email Me