2506 Cecelia Avenue - Multi Family

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30747396
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 5 Units
Building Size (RSF): 3,120 SF
Gross Land Area: 0.44 Acres
Sale Price: $480,000
Unit Price: $96,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 9/11/2021

Overview / Comments

A Great Investment Opportunity!

Income-producing 5 unit rental property in excellent condition. Brick 4 plex building, each unit is 1 BR/1BA plus mobile home with 2BR/2BA. Ample parking in the rear. Long-term, quality renters. The property has many recent updates with literally no work needed to transition to a new owner. Efficiently managed with tenants paying online.

The knowledgeable property manager and maintenance staff can convey this to the new owner. Property records are in the cloud and will be shared with the new owner.

Four approximately 600+ square feet units, a bedroom, living room, kitchen, and bath. All electric kitchen is nicely equipped with range/oven, refrigerator, microwave, and dishwasher. Each unit has mini blinds, ceiling fans, a PTAC heat/air unit, laminate & vinyl floors, and front and back porches.

Plenty of off-street parking. There is easy access to I-140 so the location is minutes from McGhee Tyson Airport, University of Tennessee & UT Medical Center, Alcoa Aluminum, Denso, Rubbermaid, Clayton-Vanderbilt Homes, Maryville College, and Blount Memorial Hospital. Additionally, it is situated in the foothills of beautiful and scenic Great Smoky Mountains National Park for those who may be outdoors enthusiasts.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $4,000 (Annual)
Assessed Value - Total($) $180,000 (Annual)
Finance Data Year 2021
Real Estate Taxes - Annual($) $1,698 (Annual)
Potential Rental Income $49,800 (Annual)
Net Operating Income $28,429 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Knoxville
County: Blount
Taxing Authority: Blount County
Tax ID/APN: 005037J G 05300
Zoning: BLOUNT COUNTY S- SUBURBANIZING
Percent Occupied: 100%
Total Number of Buildings: 2
Property Condition: Excellent
Number of Stories: 2
Parking Description: Surface
Laundry: Laundromat Nearby
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,917 34,861 65,886
Median Age: 35.43 39.14 40.1
Households: 2,464 14,108 26,960

Contact

Photograph of Listing Agent

Frank Weiskopf, CCIM

Realty Executives Associates KAAR CIE Member
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