Leona Skiles Can Help You Purchase This Unit

Thank you for choosing Leona Skiles! As one of the Knoxville area's premier Real Estate Brokers, we are uniquely qualified to help you find the perfect property. On the lake, around town or out on a farm, Leona Skiles is here to help!

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

Priced At: $856,600

Property Details for ID: 1129853

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SqFt: 8,155
Price SqFt: $105
Total Bedrooms: ********
Full Baths: ******** / Half Baths: ********
MLS Status: Active
Property Type: MultiFamily
On Market Date: 2020-09-15T20:23:10Z

Public Remarks: 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.

Schools Information

Elementary School: Dogwood
Middle / Junior School: South Doyle
High School: South Doyle

Building Description

Year Built: 1972
SqFt (Total): 8,155
Sub-Type: Other
Sale Includes: No Furnishings
Unit Type(s): 1 Bedroom Unit, 2 Bedroom Unit, Unfurnished

  Exterior Features

Features: Balcony, Cable Available (TV Only), Patio, Windows - Vinyl
Construction: Block, Frame - Brick
Siding: Brick

  Appliances

Dishwasher, Microwave, RangeOven, Refrigerator, Smoke Detector

  Room Dimensions

  Interior Features

Floors: Laminate, Tile, Vinyl
Other Rooms: Other
Misc Features: Internet Available, Pantry, Walk-in Closets

  Property Details

Utilities

Fuel Types: Electric

Financing

Finance Options: Cash, Conventional
Gross Annual Income: 75,218
Annual Operating Expenses: 33,944
Net Operating Income: 41,274

  HOA Information

Restrictions: Yes

Heating & Cooling

Cooling Type(s): Central Cooling
Heat Type(s): Heat Pump

Garage / Parking

Off-Street Parking, On Premise Parking

  Community Features

Outbuildings


Presented By: Sarah Latham-Jones / Realty Executives Advantage

Up Coming Open Houses

Sorry, no open houses are currently available for this listing.

Directions

Chapman Hwy South to Left on E Red Bud Rd, follow to building on Right. Easy access also from Sevierville Pike to Right on Red Bud, Building on Left.



Your commute

( Departing today at 8:00am )


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