101148 Home Sfr Knoxville, TN 37909
- Residential income homes
- 18,386 SF
Current Use by Public Records
- Residential income homes
Property Details for 101148 Home Sfr
- Year built
- 1983
- Property size
- 18,386 SF
- Property type
- Residential income homes
Description
This exceptional 9-unit single-family rental portfolio presents a compelling investment opportunity in the thriving Knoxville, Tennessee market. The portfolio comprises nine detached homes, strategically located across multiple desirable areas including Apple Valley, Hixson, Ooltewah, Soddy Daisy, and Chattanooga. The homes boast a mix of unit sizes, including two three-bedroom, six four-bedroom, and one five-bedroom residences, with an average size of 2,042 square feet. Situated on expansive lots averaging 23,861 square feet, these properties offer ample space and privacy. Built between 1938 and 2021, with an average construction year of 1983, the portfolio benefits from a blend of established and potentially updated properties. Currently operating at 100% occupancy with fully vetted tenants, the portfolio generates a substantial net operating income (NOI) of $205,867, projecting to $207,036. The average monthly rent per unit is $2,512, contributing to a strong 5.88% cap rate and a pro-forma cap rate of 5.92%. The total square footage is 18,386, and the asking price is $3,500,000, representing a price per unit of $388,889 and a price per square foot of $190.36. This portfolio offers a rare opportunity to acquire a stabilized, cash-flowing investment in a rapidly growing market with significant upside potential. The portfolio is offered fee simple. The total lot size for the entire portfolio is 214,751 square feet.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Blount
- State
- Tennessee
- Longitude
- -84.0326
- Latitude
- 35.9467
