Town Creek Villas, 12 Unit Multi-Family Opportunity

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30269898
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 12 Units
Building Size (RSF): 14,276 SF
Gross Building Area: See Agent
Gross Land Area: 2.58 Acres
Sale Price: $1,195,000
Unit Price: $99,583.33 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/30/2018

Overview / Comments

Beautiful Town Creek Villas consist of four (4) duplexes built in 2005 and one (1) 4-plex built in 2006. Each spacious villa is just under 1,200 square feet, has washer/dryer connections, 2 bedrooms & 2 bathrooms, privacy fencing around patios and all the modern touches expected in newer construction. The villas are individually metered for water and electricity with direct billing by Lenoir City Utilities Board. NO CITY TAXES, only County.

Located just off the highly developed Hwy 321 retail corridor at Lenoir City's main Exit #81 of I-75, shopping, dining and the Loudon County Medical Center are all a half mile away. With newer, quality construction and future rent increases, a multi-family investment opportunity like this does not come around often.

Serious inquiries only. Financial information available with signed confidentiality agreement. Square footage and acreage are per public record, not guaranteed and should be verified.

DO NOT DISTURB RESIDENTS - SEE AGENT

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $9,581 (Annual)
Gross Operating Income $119,700 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Knoxville
County: Loudon
Tax ID/APN: 015 099.01
Zoning: R-1
Percent Occupied: 100%
Site Description: Town Creek Villas are in a beautifully maintained setting with adequate shade, consistent lawn care and attractive landscaping. The property has its own private drive/entrance off of Town Creek Rd.
Area Description: I-75 Exit 81 for Lenoir City. Take US-321 South for.50 mile and turn right onto Town Creek Rd W. Property is a half mile on left.
Total Number of Buildings: 5
Property Condition: Excellent
Year Built: 2005
Roof Type: Other
Construction/Siding: Brick
Parking Type: Surface
Heat Type: Electricity
Air Conditioning: Other
Interior Description: Large rooms, modern baths and kitchens, walk-in closet for master bedroom, neutral colored paint, carpet and tile.
Zoning Description: R-1 / Suburban Residential

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,673 15,679 36,505
Median Age: 38.26 38.67 42.16
Households: 1,535 6,171 14,056
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