1312 Laurel Avenue, Knoxville, TN 37916 - multi-family property

Detailed information about multi-family property which situated in Knoxville (37916) city, Tennessee state on 1312 Laurel Avenue.
This property is located in the Fort Sanders neighborhood, which is the primary Student Housing district for the University of Tennessee at Knoxville. The neighborhood consists of turn of the century homes, apartment complexes, University Housing, Fort Sanders Hospital, and a few restaurants, bars, and office buildings. Most of the older homes in this neighborhood have been converted into apartment units for rent to the student population.

Additional Information: This is a great rental in the heart of what is a very stable rental market. There is consistent demand from the University of Tennessee, and the property is in good condition. While we highly encourage all buyers to do their own due-diligence, this property is a great first investment, or another great rental property to add to your portfolio. This property is currently producing an annual rent of $44,280.00 dollars, and is fully leased for the 2012/2013 school year. Lease's are on a 12 month rotation and most are combined with parental guarantees on the rent. The Net Operating Income for the property is currently $34,546.00 annually; making this property better than a 10% cap. rate at its listing price. A good opportunity that shouldn't last long!! Come take a look!!