East TN Section 515 Multifamily Portfolio
Multi-Family
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30790914 |
| Property Subtypes: |
Government Subsidized, Low-Rise/Garden
|
| Status: |
Pending/Contingent |
| Number of Units: |
364 Units |
| Building Size (RSF): |
336,000 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
38 Acres
|
| Sale Price: |
$1 |
| Unit Price: |
$0 Per Unit |
| Sale Terms: |
Undisclosed |
| Cap Rate: |
Undisclosed |
| Average Occupancy Rate: |
90 |
| Last Updated: |
3/23/2023 |
Overview / Comments
SVN | Wood Properties is pleased to present this Section 515 Multifamily Portfolio in East Tennessee. This portfolio consists of nine properties that include 364 units. Each property participates in the section 515 program. Section 515 Rural Rental Housing Loans are mortgages provided by USDA to provide affordable rental housing for low-income families in rural areas. Rental rate increases are determined each year by USDA and many tenants receive rental assistance. There is a critical need for affordable housing in rural America, evidenced by this portfolio's average occupancy of 90%. The current owner has excellent management personnel and infrastructure in place that can remain with the property after the sale.
Please contact Kevin and Cohl for more information. Pricing is subject to offers.
|
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Blount |
| Tax ID/APN: |
00503701604 |
| Area Description: |
This portfolio consists of nine separate government-subsidized apartment complexes located throughout East Tennessee. The properties are located in Sevier, Blount, Union, Grainger, and Scott counties. |
| Property Condition: |
Good |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
5,812 |
30,249 |
63,245 |
| Median Age: |
39.8 |
38.58 |
40.38 |
| Households: |
2,348 |
11,945 |
25,812 |
|
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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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