464-496 E Red Bud Rd Unit Multi, Knoxville, TN 37920

$856,600
8,155
SqFt
List Price
$856,600
MLS#
1129853
Status
ACTIVE
Type
Multifamily
City
Knoxville
County
Knox County - 1
Living Area
8,155
Year Built
1972

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.

Additional Information

Total Taxes
$7061.23
Appliances
Dishwasher, Microwave, Range/Oven, Refrigerator, Smoke Detector
Construction
Block, Frame - Brick
Cooling
Central Cooling
Exterior Features
Balcony, Cable Available (TV Only), Patio, Windows - Vinyl
Floors
Laminate, Tile, Vinyl
Garage
Off-Street Parking, On Premise Parking
Living Area
8,155
Lot Dimensions
n/a
Other Rooms
Other
Year Built
1972

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Realty Executives Advantage.