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605 Gill Ave
Knoxville, TN 37917
Multifamily Property For Sale
·
4 Units
INVESTMENT HIGHLIGHTS
- Downtown Knoxville
- Historic District
EXECUTIVE SUMMARY
This property offers a unique blend of historic charm and modern convenience, located in one of Knoxville's most desirable districts. Whether you're a seasoned investor or looking to start your portfolio, 605 Gill Avenue provides an excellent opportunity to own a piece of Knoxville's history while generating steady rental income.
Property Overview:
Historic 4th and Gill District, near Downtown Knoxville 4 Plex | 3,164 sq ft
(2) Downstairs units: 1-Bedroom Unit and 1 bath
Unit 1 - 12 month lease $1250
Unit 2 - 12 month lease unit has washer and dryer hookup rents for $1500
(2) Upstairs units: 1 bed 1 bath with share an upstairs Balcony
Unit 3 - 12 month lease has washer and dryer hookup rents for $1500
Unit 4 - rents for $1250 (No washer & dryer) 12 month lease
Convenient parking options include Off-Street Parking, On-Premise Parking, and On-Street Parking. Plenty of room to create a parking pad in the rear of the property.
Roof is 14 years old.
Owner has replaced water heaters and AC units in 2023.
Unit 1 has slight slope from home steeling has been reinforced with support piers in basement.
Estimated improvements needed about $25K
Property Overview:
Historic 4th and Gill District, near Downtown Knoxville 4 Plex | 3,164 sq ft
(2) Downstairs units: 1-Bedroom Unit and 1 bath
Unit 1 - 12 month lease $1250
Unit 2 - 12 month lease unit has washer and dryer hookup rents for $1500
(2) Upstairs units: 1 bed 1 bath with share an upstairs Balcony
Unit 3 - 12 month lease has washer and dryer hookup rents for $1500
Unit 4 - rents for $1250 (No washer & dryer) 12 month lease
Convenient parking options include Off-Street Parking, On-Premise Parking, and On-Street Parking. Plenty of room to create a parking pad in the rear of the property.
Roof is 14 years old.
Owner has replaced water heaters and AC units in 2023.
Unit 1 has slight slope from home steeling has been reinforced with support piers in basement.
Estimated improvements needed about $25K
PROPERTY FACTS
| Price Per Unit | $183,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 4% | Building Size | 3,164 SF |
| No. Units | 4 | Average Occupancy | 50% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1910/2024 |
| Apartment Style | Single-Family Home | Parking Ratio | 1.26/1,000 SF |
| Zoning | R2 - Residential up to 4 family | ||
| Price Per Unit | $183,750 |
| Sale Type | Investment |
| Cap Rate | 4% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 3,164 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/2024 |
| Parking Ratio | 1.26/1,000 SF |
| Zoning | R2 - Residential up to 4 family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+4 | 4 | $1,350 | 3,000 |
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