5 Units Maryville on 3 Lots - Nicely Kept - Terrific Location

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30390268
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden
Status: Pending
Number of Units: 5 Units
Building Size (RSF): 5,354 SF
Gross Building Area: See Agent
Gross Land Area: 23,523 SF
Sale Price: $325,000
Unit Price: $65,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.42%
Gross Rent Multiplier: 7.47
Last Updated: 9/11/2019

Overview / Comments

Just Reduced! Well Kept Maryville 5Plex - On 3 Separate Lots - Terrific Location. These 3 individual side by side properties have been professionally managed and enjoy excellent amenities including central HVAC and washer dryer hookups. City picks up trash and tenants pay all utilities including water. Property consists of two duplexes & a single family residence (addresses are 507, 513 & 515 Lord Ave.), is downtown adjacent & one mile from Maryville College. Attractive floorplans, tenant paid utilities & great location help make this 5plex a perfect investment for the longterm. Sq footage is from tax records, not guaranteed & should be verified by Buyer. No sign. Please don't disturb the residents.
From Highway 321, turn North onto Simmons and then right onto Lord. Property will be on the left, just before McGhee. Addresses of the 3 properties are 507/509, 513 & 515/517 Lord Ave. No sign.

Financials

Finance Data Year 2019
Potential Rental Income $43,500 (Annual)
Net Operating Income $16,872 (Annual)
Actual or Proforma Year Proforma
Lender Name New loan
Loan Amount $245,000
Down Payment $80,000
Annual Debt Service $20,224 (Annual)
Interest Rate (APR) 5.50
Amortization Period 20 years

Additional Details

Nearest MSA: Knoxville
County: Blount
Taxing Authority: Blount county
Tax ID/APN: 057E B 024.00, 057E B 024.02, 057E B 024.01
Total Number of Buildings: 3
Property Condition: Fair
Year Built: 1928
Construction/Siding: Stone, Wood Frame, Wood Siding
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,943 41,852 67,632
Median Age: 34.8 39.09 40.36
Households: 2,760 16,920 27,012

Contact

Photograph of Listing Agent

Solange Velas, CCIM

Goldman Partners Realty, LLC KAAR CIE Member
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