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Watauga Apartments 412 Watauga Dr 9 Unit Apartment Building $1,200,000 ($133,333/Unit) Knoxville, TN 37918
INVESTMENT HIGHLIGHTS
- Recent renovations — Updated interiors and property improvements reduce near-term CapEx needs and enhance overall tenant appeal.
- Rental upside potential — Current rents remain below market, providing a clear opportunity for revenue growth through strategic increases over time.
- Prime Fountain City location — Quiet neighborhood setting just minutes from Downtown Knoxville, with convenient access to parks, retail, dining, and m
EXECUTIVE SUMMARY
SVN | Wood Properties is proud to present 412 Watauga Drive is a prime 9 unit North Knoxville property in Fountain City, combining a quiet neighborhood with quick access to downtown and major routes.
Units are renter-ready, currently earning an average rent of $1,057/unit per-month with a market average rent of $1,245, offering immediate cash flow and upside.
The property features an additional unrented 3-bedroom, 2-bathroom unit with a connected garage. Full renovation of this unit represents an opportunity to significantly enhance NOI and cash flow performance.
Current ownership has redone all water and sewer lines leaving this property in great condition with very little capex needed.
With its location, strong performance, and growth potential, 412 Watauga Drive is a sharp investment for savvy buyers looking to capitalize on Knoxville’s rental market.
This property is part of a 129 Unit portfolio that can be purchased together.
Units are renter-ready, currently earning an average rent of $1,057/unit per-month with a market average rent of $1,245, offering immediate cash flow and upside.
The property features an additional unrented 3-bedroom, 2-bathroom unit with a connected garage. Full renovation of this unit represents an opportunity to significantly enhance NOI and cash flow performance.
Current ownership has redone all water and sewer lines leaving this property in great condition with very little capex needed.
With its location, strong performance, and growth potential, 412 Watauga Drive is a sharp investment for savvy buyers looking to capitalize on Knoxville’s rental market.
This property is part of a 129 Unit portfolio that can be purchased together.
PROPERTY FACTS
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $133,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.56 AC |
| Sale Condition | Bulk/Portfolio Sale | Building Size | 6,868 SF |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.16/1,000 SF |
| Price | $1,200,000 |
| Price Per Unit | $133,333 |
| Sale Type | Investment |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 6,868 SF |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.16/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 9 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 048MH-004 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $105,720 |
PROPERTY TAXES
Parcel Number
048MH-004
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$105,720
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Watauga Apartments | 412 Watauga Dr
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