Investment Opportunity in West End Morristown - 9% Cap Rate Triplex on Nearly 1 Acre
Located in a desirable area of West End Morristown, this well-positioned triplex sits on a spacious 0.94-acre lot and offers immediate cash flow with a current cap rate of approximately 9%. Each unit is separately metered and fully occupied, providing stable rental income with room for future growth.
The property features ample parking, a large shared yard, and potential for expansion or value-add improvements. Whether you're a seasoned investor or looking to start your portfolio, this triplex presents a rare opportunity in a sought-after area close to schools, shopping, and major roadways.
For sale
$379,900
5954 Hiawatha Rd, Morristown, TN 37814
6beds
--sqft
Est.:
Triplex, Multi Family
Built in 1979
-- sqft lot
$368,200 Zestimate®
$--/sqft
$-- HOA
What's special
Large shared yardAmple parking
- 19 days
- on Zillow |
- 379 |
- 24 |
Zillow last checked: 7 hours ago
Listing updated: July 21, 2025 at 08:54pm
Listed by:
Ronald Bledsoe 423-273-7568,
RE/MAX Real Estate Ten Midtown 423-581-8881
Source: Lakeway Area AOR,MLS#: 708381

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Baseboard, Electric
Cooling
- Wall/Window Unit(s)
Appliances
- Laundry: Laundry Closet
Features
- Flooring: Ceramic Tile, Linoleum, Vinyl
Interior area
- Finished area above ground: 1,537
- Finished area below ground: 781
Property
Features
- Levels: Two
- Stories: 2
Lot
- Size: 0.94 Acres
- Features: Back Yard
Details
- Parcel number: 035.08
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex, Multi Family
Materials
- Block, Brick
- Foundation: Block
- Roof: Shingle
Condition
- New construction: No
- Year built: 1979
Utilities & green energy
- Electric: 220 Volts in Laundry
- Sewer: Septic Tank
- Water: Public
Community & HOA
Location
- Region: Morristown
Financial & listing details
- Tax assessed value: $144,800
- Annual tax amount: $1,141
- Date on market: 7/22/2025
- Tenant pays: Electricity, Water
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