$2,950,000
Introducing 21 Individual Unit Investment Portfolio For Sale... The individual units are conveniently located next to each other with improvements made to each of the properties that include: full interior remodels, the replacement of numerous HVAC systems, the installation of metal roofs, as well as additional new parking spaces. Each unit has identical layouts, consisting of two bedrooms and one bathroom, with washer and dryer connections. The color schemes and grade finishes are consistently applied throughout the units. The owner and property managers have had no noise complaints and minimal maintenance issues.
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)
1342605
MLS
5211 Pocahontas Drive, Knoxville