Development Opportunity With Existing 6-Plex and 2 Houses

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30792743
Status: Pending/Contingent
Number of Units: 8 Units
Building Size (RSF): 6,084 SF
Gross Building Area: See Agent
Sale Price: $739,000
Unit Price: $92,375 Per Unit
Property Use Type: Investment
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 5/23/2022

Overview / Comments

Value-Add, 6-Unit Maintenance Free Apartment building with 2 Freestanding homes. Property is zoned for an additional 36 units. Build on existing 3 or 6 planned lots for planned 6-Plexs. Property is zoned RN-4. All municipal services connected. 100% leased with excellent rental history. Owner hasn't experienced any rental loss since ownership. Highly sought-after affordable rents.
Very convenient to Hwy I-640/I-40 and Broadway. Shopping, retail, services all close to property.
6-Plex contains four 2BR/1B (902SF) and two 1BR/Studio (320SF).
Contact Mike or Suzanne Fuller for financials.
Excellent rental history and convenient to downtown and the new Amazon facility.

Additional Details

Nearest MSA: Knoxville
County: Knox
Zoning: RN4 F
Total Number of Buildings: 3

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,831 66,965 149,766
Median Age: 37.02 38.27 35.8
Households: 2,662 29,683 62,494
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