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

Contact Us Schedule Showing Text Flyer Email Flyer

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


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


Fuel Types: Electric


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


Presented By: Sarah Latham-Jones / Realty Executives Advantage

Up Coming Open Houses

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


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 )

Near By Properties (click flag to view)

Listing Id: (Click to View)
List Price:
Full Baths:
Half Baths:
Total Beds:
Total SqFt:
Public Remarks:

Mortgage Calculator

Loan Amount (80% of list price)


Term (in years)?

What will be the interest rate?


Instructions: Enter numbers and decimal points. No commas or other characters.

This is your Principal & Interest Payment only - you will still have to add HomeOwners Insurance and Taxes for a Total Monthly Payment.  The Loan Amount Figure is based on a 20% down payment, Private Mortgage Insurance (PMI) is required with less than a 20% down payment.  We can provide you names of Mortgage Loan Officers that will provide you more details on your payment and total down payment.

Four Reasons to Use Leona Skiles Realty

Buying or Selling real estate should be fun and simple. With Leona Skiles, that's exactly what you can expect. We will strive to make each and every interaction a professional and pleasant experience!

You Are Valued

We recognize that we are partners with our clients and as such, we strive to provide a high quality of service, and hope to build trust and friendships through honesty and integrity.

On-Time Guarantee

From showings to closing; we know that your time is valuable and our agents and staff will always strive to never keep you waiting.

Buyers Network

Utilizing the very latest in lead generation and good old fashioned hard work, we already have a network of qualified purchasers looking for the right home or property.

Video Services

We will set your home/property apart from others on the market with professional quality, innovative video marketing complete with narration and music.