4 UNITS - 9.3 CAP - CASHFLOW OPPORTUNITY IN OPPORTUNITY ZONE!
Multi-Family
for Sale
| Catylist Listing ID: |
30838036 |
| Property Subtypes: |
Duplex/Fourplex
|
| Number of Units: |
4 Units |
| Building Size (RSF): |
2,610 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
4,264 SF
|
| Sale Price: |
$320,000 |
| Unit Price: |
$80,000 Per Unit |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
9.35% |
| Average Occupancy Rate: |
100 |
| Gross Rent Multiplier: |
8.65 |
| Last Updated: |
5/12/2023 |
Overview / Comments
JUST REDUCED! 4 UNITS - 9,3 CAP RATE - OPPORTUNITY AWAITS IN THE OPPORTUNITY ZONE!
This property is fully rented with two long term residents, 3 years and 7 years, and two newer residents in the last year. Originally built as a commercial storefront, Previous owner revamped the interiors into four individual apartments. As the property has just one water and electric meter, Seller includes utilities as part of the rental rate. Seller says he has a wait list should there be a vacancy. Property has a newer roof and parking both in front and to the rear as the lot is a street to street lot. Located on a major thoroughfare with a traffic count of nearly 12,000 vehicles per day, this location has a tremendous street exposure. Add to that it’s proximity to the new baseball stadium (just 2.5 miles to the West) due to be completed in 2025, this is truly an opportunity for a first time investor or seasoned veteran. The C-G General Commercial Zoning District is intended to provide for a heterogeneous mix of retail, personal service, office, and residential use giving the new owner many options going forward.
|
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Knox |
| Taxing Authority: |
Knoxville |
| Tax ID/APN: |
082DA015 |
| Zoning: |
C-G |
| Percent Occupied: |
100% |
| Total Number of Buildings: |
1 |
| Property Condition: |
Average |
| Number of Stories: |
2 |
| Year Built: |
1935 |
| Roof Type: |
Gable |
| Construction/Siding: |
Block |
| Parking Type: |
Surface |
| Parking Description: |
Parking in front and rear of building. |
| Total Parking Spaces: |
4 |
| Sprinklers: |
None |
| Heat Type: |
Electricity |
| Heat Source: |
Other |
| Fuel: |
Electric |
| Air Conditioning: |
Window Unit |
| Zoning Description: |
C-G-2 |
| Lot Frontage: |
50 |
| Lot Depth: |
85 |
| Sewer Type: |
Municipal |
| Land Ownership: |
Fee Simple |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,584 |
55,472 |
132,795 |
| Median Age: |
38.92 |
37.02 |
35.47 |
| Households: |
3,168 |
24,020 |
55,358 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Knoxville Area Association of REALTORS® nor
Moody's assume any liability for errors or omissions.
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