362 Saddlebrook Dr Sparta, TN 38583

This exceptional investment opportunity presents a 122-acre, gated, waterfront multifamily community in Sparta, Tennessee (38583). The property, encompassing 132 homesites, includes developer rights, allowing for significant future development potential. Currently featuring a clubhouse with a pool, paved roads, and underground utilities, the community is comprised of 55 developed homesites (23 available) and 77 undeveloped sites in Phase II, plus RV parking. The property boasts unrestricted zoning (MultiFamily Commercial), engineered septic systems, and a separate entrance for the undeveloped Phase II. The sale includes a large waterfront lot planned as a community park. The existing covenants, with a $299 monthly community fee, are modifiable by the new owner. Phase I's remaining lots and the planned Phase II development project a potential value of $3.9 million. The property's total square footage is 1,920, built in 2010, and sits on 122 acres. This is a unique opportunity to acquire a thriving multifamily and RV park community with substantial growth potential. The asking price is $1,990,000.