Indian Hills Apartments, 11 Units
Multi-Family
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30839638 |
| Property Subtypes: |
Low-Rise/Garden
|
| Status: |
Pending/Contingent |
| Number of Units: |
11 Units |
| Building Size (RSF): |
11,698 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.62 Acres
|
| Sale Price: |
$1,425,000 |
| Unit Price: |
$129,545.45 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/25/2023 |
Overview / Comments
Indian Hills Apartments consist of 11 units, all 2-bedroom with 1.5 bathrooms. The spacious units each have washer/dryer connections and direct billing for electricity. The all-brick building has a strong presence, plenty of parking and excellent location about 2.7 miles from I-75 Exit #122 for Clinton. It's worth noting that I-75 Exit #122 is just 15 miles north of downtown Knoxville.
The property is on common water meter and has county only taxes, no city taxes. The seller has purportedly spent approximately $150,000 in renovations since 2020. Tenants are responsible for trash removal. Upside exists in raising rents and billing water back to tenants. The spacious units average about 1,063 SF, have large living room, kitchen and laundry on ground floor with bedrooms upstairs. One might compare this to a townhome/townhouse development.
Acreage and square footage per public record, must be verified.
|
Financials
| Finance Data Year |
2022 |
| Real Estate Taxes - Annual($) |
$6,398 (Annual) |
| Potential Rental Income |
$155,100 (Annual) |
| Gross Operating Income |
$126,900 (Annual) |
| Actual or Proforma Year |
Actual |
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Anderson |
| Tax ID/APN: |
001065DA01000 |
| Zoning: |
A-2 |
| Percent Occupied: |
100% |
| Site Description: |
Gently sloping |
| Area Description: |
I-75 Exit # 122 for Clinton/Norris. Go west for 2.7 miles and turn right onto Indian Hills Circle. Property on left, can't miss it. |
| Total Number of Buildings: |
1 |
| Property Condition: |
Excellent |
| Number of Stories: |
2 |
| Year Built: |
1978 |
| Year Renovated: |
2020 |
| Roof Type: |
Gable |
| Construction/Siding: |
Brick |
| Heat Source: |
Central |
| Air Conditioning: |
Other |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
11,101 |
26,862 |
| Median Age: |
41.04 |
42.51 |
| Households: |
4,636 |
11,090 |
|
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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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