101 Gates Dr
Oak Ridge, TN 37830
Oak Ridge Lodging Apartments · Multifamily Property For Sale
·
79 Units
Property Facts
| No. Units | 79 | Lot Size | 4.08 AC |
| Property Type | Multifamily | Building Size | 50,600 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1981/1992 |
| Building Class | C | Parking Ratio | 0.99/1,000 SF |
| Zoning | R-4 | ||
| No. Units | 79 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.08 AC |
| Building Size | 50,600 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1981/1992 |
| Parking Ratio | 0.99/1,000 SF |
| Zoning | R-4 |
Amenities
Unit Amenities
- Microwave
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Carpet
Site Amenities
- Laundry Facilities
- Pool
- Property Manager on Site
- Trash Pickup - Curbside
- Sundeck
About 101 GATES DR , OAK RIDGE, TN 37830
Capstone Apartment Partners is pleased to present the Oak Ridge Lodging Apartments, located in the west Knoxville suburb of Oak Ridge, Tennessee. The asset is currently operated as an extended-stay lodging complex catered to corporate leases; thus, allowing new ownership to capitalize on repositioning the asset as a strictly multi-family community and implement a more cost-effective management and leasing process. Additionally, Oak Ridge Lodging Apartments can expect to achieve an average rent premium of $50 through a value-add program to improve the interior scope of the units. Furthermore, the purchase of the asset includes an undeveloped 4.5-acre parcel adjacent to the property that provides the opportunity to build a Phase II. Due to the strong rental demand derived from an expanding employment base in Oak Ridge, the option to continue operating a portion of short-term rentals, and capturing market-dictated fees, the asset can provide new ownership multiple revenue streams.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 18 | - | 400 |
| 1+1 | 53 | - | 600 - 800 |
| 2+1 | 8 | - | 800 |
Property Taxes
| Parcel Number | 015H-A-001.00 | Improvements Assessment | $29,040 |
| Land Assessment | $0 | Total Assessment | $29,040 |
Property Taxes
