20 Unit Multi-Family

Multi-Family for Sale
Catylist Listing ID: 30172931
Property Subtypes: Low-Rise/Garden
Number of Units: 20 Units
Building Size (RSF): 14,280 SF
Gross Building Area: 14,442 SF
Sale Price: $879,000
Unit Price: $43,950 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.37%
Average Occupancy Rate: 100
Gross Rent Multiplier: 6.93
Last Updated: 11/18/2017

Overview / Comments

Fully rented 20 unit complex with most tenants long-term and month-to-month. Below market rents gives an investor upside potential, along with the on-site laundry facility. The complex features low maintenance brick exterior and ample parking. Roof approximately 2 years old. Renovations completed by previous owner.

Convenient to Broadway, I-40 and I-640, James White Parkway and easy access to public transportation.

Square footage is not guaranteed and should be verified by Buyer. Landlord pays tenants water/waste water.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knoxville/Knox
Tax ID/APN: 081EC020/119718
Zoning: R-2
Percent Occupied: 100%
Property Located Between: Broadway and Coker
Highway Access: Convenient to N. Broadway, I40/640, James White Parkway
Airports: McGhee Tyson
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 2
Year Built: 1978
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Low maintenance brick
Parking Type: Surface
Laundry: Shared
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Other
Internet Access: Cable
Interior Description: 2 Bd/1 Ba Units
Zoning Description: R-2: This is a residential district to provide for medium population density. The principal uses of land may range from houses to low density multi-dwelling structures and developments. Certain uses which are more compatible functionally with intensive residential uses than with commercial uses are permitted. The recreational, religious, educational facilities, and other related uses in keeping with the residential character of the district may be permitted on review by the planning commission. Internal stability, attractiveness, order and efficiency are encouraged by providing for adequate light, air, and usable open space for dwellings and related facilities, and through consideration of the proper functional relationship to each use permitted in this district.
Lot Frontage: 233
Lot Depth: 150
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,297 88,356 157,839
Median Age: 39.26 33.91 34.95
Households: 5,780 36,977 66,879

Contact

Photograph of Listing Agent

Aimee Muse

Holrob KAAR CIE Member
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