Holston Court Apartments & Duplex, 12 Units

Multi-Family for Sale
Catylist Listing ID: 30410569
Property Subtypes: Low-Rise/Garden
Building Status: Proposed
Number of Units: 12 Units
Building Size (RSF): 9,292 SF
Gross Building Area: See Agent
Gross Land Area: 1.29 Acres
Sale Price: $515,000
Unit Price: $42,916.67 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.2%
Last Updated: 4/17/2019

Overview / Comments

Holston Court Apartments consist of 2 five-plex buildings and 1 duplex. The five-plex buildings each have four 2-bedroom, 1 bath units and one 3-bedroom, 1 bath unit. The duplex has 2-bedroom, 1 bath on each floor. (12 Units: 10 units with 2-bedrooms, 2 units with 3-bedrooms).

Each unit is individually metered for water and electricity. The roofs were replaced on all 3 buildings in 2017 along with 10 new electrical boxes in the apartments. The apartments do not have washer/dryer connections. The bedrooms are carpeted and the kitchen & living room areas are tiled. Heating & Air is supplied by package terminal units. Each building is on city sewer.

GRM of 7.05, 8.2% CAP based on current rent roll.

Square footage and acreage per public record, not guaranteed and needs verification by buyer.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $4,690 (Annual)
Gross Operating Income $73,080 (Annual)
Net Operating Income $42,300 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 071PD009, 071OA002, 071OA001
Zoning: RP-1
Percent Occupied: 100%
Area Description: I-40 Exit 394, west on Asheville Hwy for .85 mile. Turn left and head west on Holston Drive for about 200 yards, then left on Holston Court and follow about 200 yards to dead end. Apartment buildings on left, white duplex on right.
Total Number of Buildings: 3
Property Condition: Good
Year Built: 1964
Year Renovated: 2017
Roof Type: Other
Construction/Siding: Brick
Parking Type: Surface
Total Parking Spaces: 18
Heat Type: Other
Heat Source: Wall Units
Air Conditioning: Package Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,179 40,424 112,762
Median Age: 40.65 39.36 35.53
Households: 1,435 17,827 46,485
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