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    464-496 E Red Bud Rd , Multi

    Knoxville, TN 37920
    • $856,600
    • STATUS: Active
    • ON SITE: 14 days
    • ID#: 1129853
    UPDATED: 201 min ago
    $856,600
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,155
      SQFT
    • $105
      $/SQFT
    Type:
    Multi-Family
    Built:
    1972
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    CALLING INVESTORS! Fabulous opportunity to own the majority share of units in this South Knoxville Condo Complex. Super hot area minutes from Downtown and The University of Tennessee these rentals are NEVER empty. The Sokno area is hot & only getting hotter. Currently offered around 5% cap (using 2019 numbers), with 2020 projected earnings we would be at 6.6% cap. Market can easily bear rent increases. Potential cap minimum 7%. Fully occupied with qualified tenants. HOA in place with reserves. HOA dues are $120 per month per unit. Dues cover Water and Sewer, Insurance, Waste Removal and Grounds upkeep. Coin laundry and storage on site, Laundry equipment is negotiable. Meticulously maintained, slam dunk, turn key, smooth transition, money in the bank.

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    © 2020 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Tennessee Elite Realty. Information is deemed reliable but is not guaranteed accurate by the MLS or Tennessee Elite Realty. Data last updated: 2020-09-29T23:58:25.473.
    www.tennesseeeliterealty.com/homes/110039532
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    464-496 E Red Bud Rd , Multi Knoxville, TN 37920

    • Price: $856,600
    • Status: Active
    • Updated: 201 min ago
    • ID#: 1129853
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    8,155
    SQFT
    $105
    $/SQFT
    1972
    Built
    County:
    Knox
    Area:
    Knoxville
    Elementary School:
    Dogwood
    Middle School:
    South Doyle
    High School:
    South Doyle
    Property Description
    CALLING INVESTORS! Fabulous opportunity to own the majority share of units in this South Knoxville Condo Complex. Super hot area minutes from Downtown and The University of Tennessee these rentals are NEVER empty. The Sokno area is hot & only getting hotter. Currently offered around 5% cap (using 2019 numbers), with 2020 projected earnings we would be at 6.6% cap. Market can easily bear rent increases. Potential cap minimum 7%. Fully occupied with qualified tenants. HOA in place with reserves. HOA dues are $120 per month per unit. Dues cover Water and Sewer, Insurance, Waste Removal and Grounds upkeep. Coin laundry and storage on site, Laundry equipment is negotiable. Meticulously maintained, slam dunk, turn key, smooth transition, money in the bank.
    Exterior Features

    Construction BlockFrame - Brick Driveway Parking Lot Exterior Features BalconyCable Available (Tv Only)PatioWindows - Vinyl Garage Parking Off-Street ParkingOn Premise Parking Lot Size N/A Siding Brick

    Interior Features

    Appliances DishwasherMicrowaveRange/OvenRefrigeratorSmoke Detector Cooling Central Cooling Floors LaminateTileVinyl Fuel Electric Heat Heat Pump Misc Features Internet AvailablePantryWalk-In Closets Other Rooms Other

    Property Features

    Annual Oper Expenses 33944.00 Auction YN No Block B14 City County Code City Limits City Taxes 3267.00 County Taxes 3794.23 Gross Annual Income 75218.00 Lease Information All Units LeasedTenants Want To Stay. Specific info On Each Unit Listed Below. Miscellaneous BalconyCoin LaundryPatioStorage SpaceTv Cable AvailableUtility Room Multifamily Sub Type Other Net Operating Income 41274.00 New Financing CashConventional Owner Expenses InsuranceOtherTaxes Property Status N/A Pud YN No Restrictions Yes Sale Includes No Furnishings Tenant Expenses CoolingElectricityHeatingTelephone Total Tax 7061.23 Type Of Units 1 Bedroom Unit2 Bedroom UnitUnfurnished Units Leased 11.00 Utilities Mo Avg 0.00

    Listing information © 2020 Knoxville Area Association of REALTORS®, Inc.
    Listing provided courtesy of Realty Executives Advantage.


    © 2020 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Tennessee Elite Realty. Information is deemed reliable but is not guaranteed accurate by the MLS or Tennessee Elite Realty. Data last updated: 2020-09-29T23:58:25.473.
     
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