16 Units South Knox Opportunity - near the Urban Wilderness/downtown

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30290911
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 16 Units
Building Size (RSF): 7,126 SF
Gross Building Area: See Agent
Gross Land Area: 34,659 SF
Sale Price: $550,000
Unit Price: $34,375 Per Unit
Property Use Type: Investment
Building Name: Crescent South Apartments
Sale Terms: Cash to Seller
Cap Rate: 8.24%
Last Updated: 7/11/2018

Overview / Comments

SOUTH KNOX OPPORTUNITY - CRESCENT SOUTH APTS - 8.2 CAP - $34,659 PER UNIT. Excellent opportunity in the hot South Knox waterfront market, just blocks from the Urban Wilderness & downtown. Property consists of two buildings on one large lot with loads of potential. 15 one bedroom units with one bath & 1 two bedroom unit. Square footage is from tax records, is not guaranteed, and should be verified by buyer.
Directions: From downtown, take the Henley St bridge, turn left at Blount Ave., turn right right on Sevier and right on Davenport. Property will be on the left at the top of the hill at the NE corner of Crescent Ave and Davenport. No sign.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $5,869 (Annual)
Gross Operating Income $93,960 (Annual)
Net Operating Income $45,323 (Annual)
Actual or Proforma Year Proforma
Loan Amount $440,000
Down Payment $110,000
Annual Debt Service $41,754 (Annual)
Interest Rate (APR) 5
Amortization Period 15 years

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knox County
Tax ID/APN: 109bh022
Number of Stories: 2
Year Built: 1976

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,690 61,380 129,924
Median Age: 29.92 31.35 34.85
Households: 4,068 24,070 54,970
The information presented herein is provided as is, without warranty of any kind. Neither Knoxville Area Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.