Multi Family

Multi-Family for Sale
Catylist Listing ID: 30784597
Property Subtypes: Mixed Use
Number of Units: 11 Units
Building Size (RSF): 7,012 SF
Gross Building Area: See Agent
Sale Price: $799,900
Unit Price: $72,718.18 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/8/2022

Overview / Comments

The property consists of 1.5 acres. It currently has 11 units, all of which are rented. Up front is a duplex with two units in it, each are 2/1. The long building in the back has 9 units. 3 units are 2/2, 6 units are 1/1. Some of the units have central heat/air, some window units, some use floor heaters. All units have their own hookups, water, sewer, and electricity. The house/duplex is only one water meter but the electric is separate meters. Each unit has stove and refrigerator. Trash is picked up by the city. There is room for more to be constructed at the front of the property.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $2,690 (Annual)
Potential Rental Income $38,779 (Annual)
Gross Operating Income $38,779 (Annual)
Net Operating Income $27,997 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Roane
Taxing Authority: Rockwood City
Tax ID/APN: 073064C A 00100
Percent Occupied: 100%
Property Located Between: Nelson st and Tarwater St
Highway Access: Hwy 27
Site Description: Property is flat, black topped. There is room for new construction.
Area Description: This property began life as a hotel and was converted to apartments. It is in close proximity to downtown Rockwood.
Property Condition: Fair
Number of Stories: 1
Year Built: 1953
Year Renovated: 2018
Roof Type: Gable
Construction/Siding: Block
Parking Type: Surface
Parking Description: Uneven black top.
Total Parking Spaces: 50
Laundry: Laundromat Nearby
Sprinklers: None
Heat Type: Electricity
Heat Source: Baseboard, Wall Units, Heat Pump
Fuel: Electric
Air Conditioning: Package Unit, Window Unit
Internet Access: Cable
Interior Description: 3) 2/2 2) 2/1 6) 1/1
Zoning Description: C-2
Lot Frontage: 291
Lot Depth: 172
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Owned
Legal Description: 064C A 001.00 000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,556 7,654 10,805
Median Age: 44.16 45 45.72
Households: 1,052 3,179 4,466

Contact

Photograph of Listing Agent

Jacki Hill

Coldwell Banker Jim Henry & Associates
KAAR CIE Member
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