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1807 Logan Ave - Logan Avenue 6 Unit Apartment Building Offered at $1,700,000 at a 9.50% Cap Rate Knoxville, TN 37921
INVESTMENT HIGHLIGHTS
- Consistent STR bookings via AIRBNB. Building 1809 is rented to UTK students and young professionals on a month to month basis.
- Close to UTK, Downtown Knoxville, Neyland Stadium and Smokys Baseball Stadium
EXECUTIVE SUMMARY
Great Investment Opportunity. Features three townhomes consisting of two units per buidling. Unit A are 1000 sqft with 2 bedrooms, 2 private bathrooms. Unit B are 1200 sqft, 2 bedrooms, 2 private bathrooms. All have private balconies. The ground floor level has strage closet, plus stackable washer/dryer in each building.
Smartlocks. Security Cameras. Three 2 car garages, plus 3 parking spaces onsite, plus an additional 4 cars can park on the side of the building; parking across the street (after business hours).
Gross Profit- $17,000/month ($12k STR, $2500/month each unit in building 1809).
Close to UTK campus, downtown and stadiums.
Zoned mixed use.
Smartlocks. Security Cameras. Three 2 car garages, plus 3 parking spaces onsite, plus an additional 4 cars can park on the side of the building; parking across the street (after business hours).
Gross Profit- $17,000/month ($12k STR, $2500/month each unit in building 1809).
Close to UTK campus, downtown and stadiums.
Zoned mixed use.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$204,000
|
$11.33
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$204,000
|
$11.33
|
| Taxes |
$16,000
|
$0.89
|
| Operating Expenses |
$25,000
|
$1.39
|
| Total Expenses |
$41,000
|
$2.28
|
| Net Operating Income |
$163,000
|
$9.06
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $204,000 |
| Annual Per SF | $11.33 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $204,000 |
| Annual Per SF | $11.33 |
| Taxes | |
|---|---|
| Annual | $16,000 |
| Annual Per SF | $0.89 |
| Operating Expenses | |
|---|---|
| Annual | $25,000 |
| Annual Per SF | $1.39 |
| Total Expenses | |
|---|---|
| Annual | $41,000 |
| Annual Per SF | $2.28 |
| Net Operating Income | |
|---|---|
| Annual | $163,000 |
| Annual Per SF | $9.06 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Tile Floors
- Kitchen
- Granite Countertops
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Range
- Dining Room
- Instant Hot Water
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Private Bathroom
- Walk-Up
- Smoke Detector
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Prestigious Properties of Knoxville LLC
1807 Logan Ave - Logan Avenue
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