Morgan St Duplex

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30652245
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 2 Units
Building Size (RSF): 1,584 SF
Gross Land Area: 4,461 SF
Sale Price: $224,900
Unit Price: $112,450 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/4/2020

Overview / Comments

This charming Victorian duplex in the Fourth & Gill Neighborhood offers an almost unique ownership opportunity for a discriminating investor. Located in one of Knoxville’s oldest neighborhood, this 1899 dwelling features two flats – up and down – of about 1,168 square feet in the lower, two-bedroom/2-bath unit and approx. 700 square feet in the upstairs. one-bedroom/1-bath unit. Square footage is from sources deemed reliable but not guaranteed & should be verified by buyer.

See the Financial Summary (attachment) for Income/Expense details. Tenants pay most of their own utilities (Electric & Natural Gas is separately metered). Landlord pays water/sewer. Each unit has central heat and air-conditioning with a conventional, forced air, electric split system upstairs and a gas package unit downstairs. The apartments feature original wood floors in many rooms and ample closet space. The units have been easy to rent due to the location, charm, and amenities such as landlord supplied dishwasher and washer/dryer units. No sign on Property. Do not disturb the tenants.

Exterior has recently been painted and owner estimates roof at about six years old. A shared front porch provides access to the units and the upper unit has a large private balcony. Street parking is convenient and two additional private spaces are available at rear accessible off alley.

With a good rental history and sound management, this property should provide a solid investment return.

The subject property at 716 Morgan St. will convey with a new permanent easement for the driveway apron and potential driveway area on the right side (between 716 and 712 Morgan St) to be solely to the benefit of 712 Morgan St.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: City of Knoxville
Tax ID/APN: 094DJ033
Percent Occupied: 100%
Community Amenities: Restaurant(s), Jogging Paths
Property Located Between: N Central Ave & Bearden Pl
Highway Access: 441 N Broadway
Airports: TYS
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 2
Year Built: 1899
Year Renovated: 2016
Roof Type: Arched
Construction/Siding: Wood Siding
Exterior Description: Victorian style wood siding w/front porch
Parking Type: Surface, Other
Parking Description: Street parking
Laundry: Shared
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Classic interior similar to other houses of the time period in which it was built.
Lot Frontage: 44
Lot Depth: 102
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,378 92,265 157,970
Median Age: 31.93 32.44 35.19
Households: 5,427 37,956 67,453

Contact

Photograph of Listing Agent

Steve Goldman, CCIM

Goldman Partners Realty, LLC KAAR CIE Member
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