High-Performing 17-Unit SFR Portfolio

Multi-Family for Sale
Catylist Listing ID: 30602322
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Other
Number of Units: 17 Units
Building Size (RSF): 19,389 SF
Gross Building Area: See Agent
Sale Price: $1,899,999
Unit Price: $111,764.65 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Last Updated: 8/10/2020

Overview / Comments

SVN | Wood Properties is pleased to present the sale of a 17-unit, 13-property, single family residential investment portfolio. The average home dates to the late 1940s and offers spacious square footage of approximately 1,500 square feet per home. Ownership purchased the majority of the properties in the late 2000s and have since spent a substantial amount of money completely renovating the homes. These renovations have driven down operating expenses and capital expenditures, offering increased net operating income for a future owner. Further, by reducing repair expenses and capital expenditures, there is increased bottom-line net operating income. The high-performing properties maintain a low average vacancy rate, if any, creating an instant cash-flowing asset for the new investor to take advantage of.

• 94% occupancy rate as of 4/23/2020
• Properties can be purchased individually or as a portfolio
• Opportunity to acquire a strong stabilized cap rate in a high- demand East Tennessee market
• Experienced management firm is open to continuing their services
• Properties within the portfolio that go vacant are consistently rented within a few weeks, or less
• Seller's capital expenditure improvements addressed deferred maintenance, offering a buyer the ability to conduct routine ongoing maintenance going forward
• All of the homes have been substantially renovated
• Below-market rents
• Conveniently located
• High average square footage
• Staggered lease expirations

Attachments & Media

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: Multiple
Percent Occupied: 94%
Total Number of Buildings: 13

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,073 83,522 168,073
Median Age: 36.7 35.05 34.76
Households: 4,421 37,022 70,988


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