Fountain City Multi-Family Portfolio

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30409688
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 13 Units
Building Size (RSF): 15,000 SF
Gross Building Area: See Agent
Gross Land Area: 1.25 Acres
Sale Price: $1,175,000
Unit Price: $90,384.62 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 6/20/2019

Overview / Comments

SVN | Wood Properties is pleased to present this Cedar Lane multi-family investment portfolio that includes an 8-Unit apartment complex located at 2523 Cedar Lane, as well as the adjacent duplex located at 2517/2519 Cedar Lane, and the three adjacent single family homes located at 2511, 2513, and 2515 Cedar Lane. Each property is completely leased and has been owned and managed by the same family for nearly 40 years.

The Cedar Lane assets are located less than a quarter mile west of N. Broadway Street's most traveled retail corridor. In addition, the properties are conveniently located near Knox County's public schools and the I-640 loop.

- 100% leased
- Upside opportunity with increased rents
- Multiple newly renovated units
- Never listed for sale
- Strong tenant retention
- Opportunity to own whole block of prime investment real estate
- Separately metered
- KAT bus line stop across the property

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 058KB06001, 058KB060, 058KB059, 058KB05901, 058KB058
Zoning: R-1A
Percent Occupied: 100%
Total Number of Buildings: 4
Property Condition: Excellent
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,141 67,696 148,791
Median Age: 40.91 38.47 37.22
Households: 3,339 29,704 63,498

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