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Forestdale Apartments 3014 Forestdale Ave 32 Unit Apartment Building $3,850,000 ($120,313/Unit) Knoxville, TN 37917
Investment Highlights
- Ownership-friendly utility structure — Water, landscaping, and waste service are included, simplifying management and enhancing tenant retention.
- Turnkey asset with recent renovations — Updated 1BR/1BA units featuring modern finishes, and minimal CapEx needs.
- Solid stabilized performance with growth potential — A great fit for investors seeking a low-maintenance, income-producing asset in a growing submarke
Executive Summary
SVN | Wood Properties is proud to present 3014 Forestdale Ave — a beautifully updated 32 unit multifamily property in North Knoxville, just minutes from downtown. This well-maintained building features modern one-bedroom, one-bath units.
Each unit currently rents for $980 per month on average, with market rent potential of $1,150, offering immediate upside for investors. Recent renovations and included utilities — water, landscaping, and waste service — make for easy ownership and strong tenant appeal. Included with the property is a vacant building that could be turned into an onsite laundry room, or a 33rd unit for additional income.
This property also includes .75 acres (+/-) in the rear part of the property that could be used to build additional units, parceled and sold off, or used to create amenity space.
With its prime location, solid in-place income, and room to grow rents, this property stands out as a turnkey investment opportunity in one of Knoxville’s steadily growing neighborhoods — a true plus for any multifamily portfolio.
This property is part of a 129 Unit portfolio that can be purchased together.
Each unit currently rents for $980 per month on average, with market rent potential of $1,150, offering immediate upside for investors. Recent renovations and included utilities — water, landscaping, and waste service — make for easy ownership and strong tenant appeal. Included with the property is a vacant building that could be turned into an onsite laundry room, or a 33rd unit for additional income.
This property also includes .75 acres (+/-) in the rear part of the property that could be used to build additional units, parceled and sold off, or used to create amenity space.
With its prime location, solid in-place income, and room to grow rents, this property stands out as a turnkey investment opportunity in one of Knoxville’s steadily growing neighborhoods — a true plus for any multifamily portfolio.
This property is part of a 129 Unit portfolio that can be purchased together.
Property Facts
| Price | $3,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $120,313 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.97 AC |
| Sale Condition | Bulk/Portfolio Sale | Building Size | 21,760 SF |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 2.07/1,000 SF |
| Price | $3,850,000 |
| Price Per Unit | $120,313 |
| Sale Type | Investment |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.97 AC |
| Building Size | 21,760 SF |
| No. Stories | 2 |
| Year Built | 1970 |
| Parking Ratio | 2.07/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Refrigerator
- Oven
- Range
- Dining Room
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 32 | - | 680 |
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Property Taxes
| Parcel Number | 070JJ-007 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $585,720 |
Property Taxes
Parcel Number
070JJ-007
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$585,720
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Forestdale Apartments | 3014 Forestdale Ave
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