UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,600 sqft
Price per Sqft $253
Subdivision Chilhowee Hills Pt Lots 1-10
MLS Listing ID 1342605
Year Built 1982
Lot Dimensions 722x145xIRR
Source East Tennessee REALTORS® MLS
Property Description
This investment opportunity is located approximately 10 min from downtown Knoxville and 15 min to Sevierville. Commuting to employment opportunities, dining establishments, educational institutions, and public transportation is highly convenient. The units sit within a residential neighborhood consisting of predominantly owner-occupied, single-family homes. Pocahontas Drive leads to a cul-de-sac, producing minimal through traffic, is surrounded by woods and provides for a quiet environment.
Tenants benefit from the absence of shared walls with neighbors, assigned parking spaces, private decks, and in-unit washer and dryer connections. Lease terms stipulate that tenants are responsible for paying the first month's rent and a security deposit. Water, trash, pest control, and lawn care services are included in the rent. Tenant pays their electric and internet services.
Currently, the average rent per unit is $1,410. Tenants are not eligible for assistance programs, but the units can pass inspections for available programs should the new owner choose to accept them. Current owners focus has been to approve tenants with higher grossing incomes, in an effort to create stable/consistent rental income. (Additional investment portfolio details/financials are available upon approved request for qualified Investors/Buyers)
Location
State TN
County Knox County - 1
Area 2.1
Rooms
Other Rooms Other
Interior
Heating Central, Electric
Cooling Central Cooling
Heat Source Central, Electric
Exterior
Exterior Feature Deck
Parking Features On Premise Parking
Garage Description On Premise Parking
Roof Type Metal
Garage No
Building
Faces GPS Friendly. From Downtown Knoxville: Take I-40E to Exit 394. Make a right. Then another right at Iroquois Rd. Lastly turn right on Pocahontas Dr.
Structure Type Frame
Schools
Elementary Schools Sunnyview
Middle Schools Holston
High Schools Austin East/Magnet
Others
Restrictions No
Tax ID 071GC005
Energy Description Electric
Acceptable Financing Other, New Loan, Cash, Conventional
Listing Terms Other, New Loan, Cash, Conventional
Nearby Locations
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