315 N Castle St, Knoxville, TN 37914 (MLS# 1272054)

315 N Castle St, Knoxville, TN 37914

$860,000

Property Type: Multi-Family Square Footage: 10,380 Lot Size (sq. ft.): 15,507 Status: Closed

Current Price: $860,000 List Date: 8/06/2024 Last Modified: 11/04/2024

Overview

Description

This property presents an exceptional investment opportunity only 3 miles from Downtown Knoxville and the Old City shops and restaurants, as well as minutes from UTK campus. It is 1.2 miles from the under construction downtown Sports and Entertainment Stadium to be completed 2025. This venue will host the Tennessee Smokies Baseball, One Knoxville SC Soccer, concerts, festivals and other special events only adding to the draw of Downtown social events and UT sports. The property offers urban convenience and prime real estate potential. The investment consists of 12 apartment units, each featuring 2 bedrooms and 1 bathroom. In the past year, significant maintenance updates and renovations have been carried out, and the property is at 90% occupancy, with one unit used for storage. Located in the heart of East Knoxville, the complex is centrally located to many activities for all ages. This property is ideal for investors looking to expand their portfolio, offering exceptional potential an ... (Read more)

Listing Details MLS# 1272054

Location Tax Legal Info

House #: 315
St Dir: N
Street Name: Castle
St Suffix: St
State/Province: TN
Zip Code: 37914
PIN #: 082FD009
Subdivision: Lake Park Springs

Contract Info

Auction Y/N: No
Listing Price: 850000

General Property Description

SqFt - Total (Aprox): 10380
Lot Dimensions: 118.8 X 153.3 X IRR
Lot Size SqFt: 15507
Number of Units: 12
# Units Leased: 11
Utilities/Mo Avg: 1226
Year Built: 1950
Property Status: N/A
Driveway: Paved Parking Lot

Status Change Info

Status Change Date: 2024-11-04
Under Contract Date: 2024-08-11
Sold Date: 2024-10-31

IncomeExpenses

Net Operating Income: 40574

More Information

Property Features

Property Sub-Type: Apartment Type of Units: 2 Bedroom Unit; Garden Sale Includes: Building and Land Floors: Hardwood; Vinyl Tenant Expenses: Electricity; Telephone Owner Expenses: Common Area Maintenance; Exterior Maintenance; Insurance; Lawn Maintenance; Roof Maintenance; Sewer; Taxes; Trash Collection; Water Fuel: Electric Heat: Baseboard; Ceiling; Space Heater Cooling: Window Unit(s) Appliances: Range; Refrigerator Construction: Frame - Brick Roof: Shingle Siding: Brick Exterior Features: Patio; Windows - Aluminum Other Rooms: Other Miscellaneous: Patio New Financing: Cash; Conventional Showing: See Agent Instructns

IDX

Listing Office: The Ferguson Company

Last Updated: November - 04 - 2024

Broker Attribution: 865-690-1300

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