Stonegate Townhomes + Development Site

Multi-Family for Sale
Catylist Listing ID: 30833458
Property Subtypes: Low-Rise/Garden
Number of Units: 34 Units
Building Size (RSF): 47,600 SF
Gross Building Area: See Agent
Sale Price: $8,000,000
Unit Price: $235,294.12 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 3/6/2023

Overview / Comments

SVN | Wood Properties is proud to exclusively present Stonegate Townhomes. Stonegate Townhomes consists of 34 existing units, 51 platted, recorded, turn-key lots, and a 4.5-acre tract of residential zoned property that could be an additional phase of townhouse development. The 34 existing units are a mix of (14) 2 bedroom / 2 bathroom units and (20) 2 bedroom / 2.5 bathroom units. All units feature garages, high ceilings, and washer dryer hookups. All units are individually parceled and capable of a condo conversion exit strategy. All units are individually metered and tenants pay all utilities. The current loan is assumable. Please reach out to the listing brokers for more information.

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Additional Details

Nearest MSA: Knoxville
County: Loudon
Tax ID/APN: 053041PC05700
Percent Occupied: 97%
Site Description: 34 Newer Vintage Townhomes, 51 Shovel Ready Lots, Located in Booming Knoxville Submarket
Area Description: Stonegate is located in Loudon County adjacent to Loudon Elementary School. The property is just outside of Lenoir City and is 25 minutes from the center of West Knoxville.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,164 10,652 23,335
Median Age: 55.69 41.44 47.52
Households: 477 4,128 9,729
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