South Knox Opportunity - 16 Units - 7 Cap

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30832779
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 16 Units
Building Size (RSF): 10,128 SF
Gross Building Area: See Agent
Gross Land Area: 34,669 SF
Sale Price: $1,350,000
Unit Price: $84,375 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 94
Gross Rent Multiplier: 7.84
Last Updated: 2/9/2023

Overview / Comments

Rare opportunity in the hot South Knox waterfront market, just blocks from the Urban Wilderness, Ijams, Suttrees waterfront park, University of TN & downtown Knoxville. Property consists of two buildings. First one built in 1915. Second one built in 1976. One unit is being kept vacant for ease of showing and one unit is in need of a complete rehab includind kitchen and bathroom.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knoxville
Tax ID/APN: 109BH022
Highway Access: Excellent Access to Chapman Hwy, I-40 & I-75
Site Description: Large, level, corner lot.
Area Description: Urban/Suburban
Total Number of Buildings: 2
Property Condition: Fair
Roof Type: Gable
Construction/Siding: Stucco
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Zoning Description: RN-4
Lot Frontage: 150
Lot Depth: 250
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: fee simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,690 61,380 129,924
Median Age: 29.92 31.35 34.85
Households: 4,068 24,070 54,970


Photograph of Listing Agent

Solange Velas, CCIM

Goldman Partners Realty, LLC KAAR CIE Member
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