South Knox Apartments

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30701077
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 12 Units
Building Size (RSF): 9,696 SF
Gross Building Area: See Agent
Gross Land Area: 0.56 Acres
Sale Price: $950,000
Unit Price: $79,166.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/2/2021

Overview / Comments

Great investment in South Knoxville, less than ten minutes from Downtown and the University of Tennessee! Eight out of twelve units have been recently renovated and quickly leased at an increase of $300 per unit. Four original units remain, allowing an investor to continue cosmetic renovations and increase rent. Ten out of twelve units are occupied with more move-ins expected soon. The sewer line was recently replaced and the roof is in good condition. The residents pay their own electric while the landlord pays water and sewer.

- Value-add
- In Opportunity Zone
- Brick Building
- Recent Renovations
- Near Downtown and University of Tennessee

Attachments & Media

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 123HN01001
Percent Occupied: 84%
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1973
Year Renovated: 2021
Parking Type: Surface
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,644 53,342 111,371
Median Age: 31.29 31.45 34.23
Households: 1,521 20,887 46,109

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