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Magnolia Court Apartments 301 S Magnolia St 8 Unit Apartment Building $990,000 ($123,750/Unit) Maryville, TN 37803
Investment Highlights
- 8 Units - All 2 Bed / 1 Bath
- $100,000+ of Recent Capital Improvements
- 7/8 Units Leased
- Located in Maryville - a growing and highly desirable market in East Tennessee
Executive Summary
PWA Properties is pleased to present Magnolia Court Apartments, an 8-unit multifamily property located at 301 S Magnolia Street in Maryville, Tennessee. The property is comprised 2-bedroom, 1-bathroom units, with 7 of the 8 units currently occupied, providing immediate in-place cash flow and upside through lease-up potential. $100,000+ of capital improvements have recently been completed including full unit renovations of select units, new electrical, water heaters, laundry facility, and more. Situated in one of East Tennessee’s most desirable and steadily growing markets, Magnolia Court benefits from Maryville’s strong local economy, proximity to major employers, and convenient access to shopping, dining, and outdoor amenities near the Great Smoky Mountains.
For more info, please visit the documents tab at https://www.pwa-properties.com/properties/?propertyId=1608517-sale
For more info, please visit the documents tab at https://www.pwa-properties.com/properties/?propertyId=1608517-sale
Property Facts Under Contract
| Price | $990,000 | Building Class | B |
| Price Per Unit | $123,750 | Lot Size | 0.57 AC |
| Sale Type | Investment | Building Size | 7,608 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | R - Residential | ||
| Price | $990,000 |
| Price Per Unit | $123,750 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.57 AC |
| Building Size | 7,608 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Zoning | R - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 057L-G-018.00 | Improvements Assessment | $256,960 |
| Land Assessment | $35,200 | Total Assessment | $292,160 |
Property Taxes
Parcel Number
057L-G-018.00
Land Assessment
$35,200
Improvements Assessment
$256,960
Total Assessment
$292,160
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Magnolia Court Apartments | 301 S Magnolia St
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