5816 Hideaway Tr, Tallassee, TN 37878

Property Description

Gorgeous water front property on Omega Lake at Top of the World! Build your own dock on the lake. Fish, swim, kayak (no gas motors) on any of the lakes at Top of the World with a community membership! Top of the World is unknown to many, but a treasure to those who live here and love it. Bounded by Great Smoky Mountain Nation Park on the east and Foothills Pkwy on the west, you're nestled between two sections of the National Park. Enjoy NP trails less than a mile from this property. Community recreation includes several stocked lakes and ponds, community picnic pavilion & kitchen, beach area, boat dock, pickleball courts, and plenty of friendship with neighbors at monthly gatherings. The original cabin was a 1BR with 768 sqft. The current renovation began by tearing much down to the perimeter foundation. It now encompasses approximately 1400 sqft of interior space plus a large covered front porch and an even larger covered back deck (prepared to be screened in). The renovation offers: * Roughly 1400 sqft interior * 3BR * Office * 2 baths * Laundry in primary bath * Gree high efficiency HVAC (new in 2022) * New field lines for 3BR septic * New siding * Most windows replaced * New metal roof 2023 * Rebuilt back deck * New covering for front porch * Most old wiring & plumbing was removed The land is composed of 3 lots in Hideaway Village Subdivision — lot 36, 65, and 67 totaling a little under 1 acre. Most is very usable. Water is from Hideaway Village community well. On a septic system. Hideaway Village HOA fee is $275 per year and includes water, pool access, and access to a private dock on the main lake. For an additional $150/yr, you can join Top of the World HOA and enjoy access to all of the stocked lakes & ponds, community beach, pickleball courts, community picnic pavilion, and other wonderful recreational opportunities. The not-so-great: This is a cash-only sale. The interior is unfinished. An investor purchased it, worked without appropriate permits, did a number of things incorrectly, and did not pay any of the lenders. The property was foreclosed and ownership returned to the 1st position lender/previous owner/seller/listing agent. Deed restrictions on lots 65 & 67 limit short term rental to 30 days/yr. Cash only sale unless buyer is able to find a renovation loan or hard money loan. No owner financing. As-is. Offers contingent on inspection will be entertained, but inspection is solely for buyer's information. No reductions in price or other concessions will be made due to condition of the home or property. Concessions for buyer's expenses such as closing costs or agency commissions will be entertained if requested on the contract. Contact listing agent/owner or your buyer's agent for more information.