Triplex on Large Lot

Multi-Family for Sale
Sale Pending
Also listed as Vacant Land
Catylist Listing ID: 30841785
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 3 Units
Building Size (RSF): 1,921 SF
Gross Building Area: See Agent
Gross Land Area: 0.62 Acres
Sale Price: $265,000
Unit Price: $88,333.33 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/11/2023

Overview / Comments

Located in the Inskip neighborhood with easy access to Central Ave Pike, Merchant Dr & I-75. Great for owner occupant, investor, or redevelopment! This large lot provides ample opportunity for ~10+ units similar to the two neighboring complexes. Current tenants are month to month.

Financials

Finance Data Year 2023
Real Estate Taxes - Annual($) $3,202 (Annual)
Tax Value Land $59,700
Tax Value Improvements $156,100
Assessed Value - Total($) $215,800 (Annual)
Potential Rental Income $27,600 (Annual)
Gross Operating Income $27,600 (Annual)
Net Operating Income $19,236 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: City of Knoxville
Tax ID/APN: 068LG042
Zoning: RN-5
Percent Occupied: 100%
Property Located Between: Inskip Dr & Central Ave Pike
Highway Access: Central Ave Pike
Airports: TYS
Site Description: Level lot with triplex situated near the front.
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 2
Year Built: 1930
Roof Type: Gable
Construction/Siding: Vinyl Siding
Exterior Description: Vinyl Siding with concrete porch
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Central, Wall Units
Fuel: Electric
Air Conditioning: Package Unit, Window Unit
Internet Access: Cable
Zoning Description: Medium density residential
Lot Frontage: 146
Lot Depth: 221
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,332 71,346 181,679
Median Age: 35.64 35.84 34.93
Households: 3,514 31,401 76,090

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