Catylist ID: #30043736
UT-Knoxville Walk-To-Campus 14 Beds
Multi-Family for Sale
|Catylist Listing ID:||30043736|
|Property Subtypes:||Student Housing|
|Number of Units:||14 Units|
|Building Size (RSF):||5,988 SF|
|Gross Building Area:||See Agent|
|Unit Price:||$51,785.71 Per Unit|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller|
Overview / Comments
Don't miss this opportunity to own UT-Knoxville Walk-To-Campus student housing in "The Fort". Properties in Fort Sanders do not come on the market very often!
Only four blocks from The Hill, 1200 Laurel offers plenty of upside with a strong rental history, low property taxes and below-market rent. The exterior is mostly brick for easy maintenance. The current owner acquired 13 years ago and renovated down to the studs in 2004, bringing it up to code with all new electrical etc.
The converted residence now has four units with a total of 14 bedrooms, six kitchens, ten full baths and four half baths. In addition, there is a common laundry room (basement, accessed on the west side) with coin washer-dryer for additional income. Machines are landlord-owned and convey with the property.
There is also a landlord storage room (basement, accessed on the east side). Heating/Cooling is from window units. There are (5) electric meters, However, the owner has all utilities in his name and bills all utility expenses (electric, water, sewer) to the residents monthly as called for in the leases.
The Income statement shows some landlord utility expense where the owner didn’t collect all costs as planned. A new owner may want to handle differently.
Attachments & Media
|Property Located Between:||UT-K and Fort Sanders|
|Area Description:||Located in the Fort Sanders neighborhood within walking distance to UT-K|
|Total Number of Buildings:||1|
|Number of Stories:||2|
|Heat Source:||Heat Pump|
|Air Conditioning:||Window Unit|
|Proximity:||1 mile||3 miles||5 miles|
Steve Goldman, CCIMGoldman Partners Realty, LLC
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