Northview Apartments

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30467392
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 24 Units
Building Size (RSF): 16,032 SF
Gross Building Area: 17,200 SF
Sale Price: $899,000
Unit Price: $37,458.33 Per Unit
Property Use Type: Investment
Building Name: Northview Apartments
Sale Terms: Cash to Seller
Cap Rate: 8.45%
Average Occupancy Rate: 100
Last Updated: 8/2/2019

Overview / Comments

Fully rented 24 unit complex with most tenants long-term and month-to-month. Below market rents gives an investor upside potential, along with opening the on-site laundry facility (currently not being optimized). The complex features low maintenance brick exterior and ample parking. Renovations completed in 2003, with new roofs in 2007 and 2013, and new handrails in 2018

Convenient to Broadway, I-40 and I-640, James White Parkway and easy access to public transportation.

Square footage is not guaranteed and should be verified by Buyer. Landlord pays tenants water/waste water.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knoxville/Knox
Tax ID/APN: 070PD019/110013 and 070PD018/110014
Zoning: R-2
Percent Occupied: 100%
Property Located Between: Washington Pike and Whittle Springs Road
Highway Access: Convenient to N. Broadway, I40/640, James White Parkway
Airports: McGhee Tyson
Total Number of Buildings: 4
Property Condition: Average
Number of Stories: 2
Year Built: 1965
Year Renovated: 2003
Roof Type: Gable
Construction/Siding: Block, Brick
Exterior Description: Low maintenance all brick exterior
Parking Type: Surface
Laundry: Shared
Sprinklers: None
Heat Type: Electricity
Heat Source: Baseboard
Fuel: Electric
Air Conditioning: Other
Internet Access: Cable
Interior Description: 1 bd/1ba units and 2bd/1ba units.
Zoning Description: R-2: This is a residential district to provide for medium population density. The principal uses of land may range from houses to low density multi-dwelling structures and developments. Certain uses which are more compatible functionally with intensive residential uses than with commercial uses are permitted. The recreational, religious, educational facilities, and other related uses in keeping with the residential character of the district may be permitted on review by the planning commission. Internal stability, attractiveness, order and efficiency are encouraged by providing for adequate light, air, and usable open space for dwellings and related facilities, and through consideration of the proper functional relationship to each use permitted in this district.
Lot Frontage: 100 and 136
Lot Depth: 246 and 200
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,533 74,245 159,612
Median Age: 40.61 36.41 35.09
Households: 4,559 33,356 66,990

Contact

Photograph of Listing Agent

Aimee Muse

Holrob KAAR CIE Member
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