Classic Apartments in a Desirable Holston Hills Location
Tuesday, January 13th, 2015
By: Steve Goldman, CCIM
Holston Place Apartments is an attractive, 23-unit, all-brick apartment building in the desirable Holston Hills area. The property is easy to keep rented due to its very visible location at the corner of Asheville Highway and Chilhowee Dr.
- Price: $599,000
- 8.84% Cap Rate | 12.51% Cash-on-Cash
- All Brick Construction
- New Gutters & Roofs in 2012
- Close to I-40
The property is well-located for singles or families with children. For kids, it is directly across the street from Chilhowee Intermediate School and less than a mile from Holston Middle School.
The new owner will enjoy having on-site storage with two 10×24′ garages and an 11×24′ storage area. One of these areas was previously used as a coin laundry room so a new owner could increase their NOI by re-installing washers & dryers.The property is convenient to work anywhere in the county as it is less than one mile from the I-40 interchange. Drive time to downtown Knoxville is 8 minutes, 10 minutes to the University of Tennessee-Knoxville campus, and 10 minutes to Forks of the River Industrial Park.
For more info about this property, contact:
Steve Goldman, CCIM
See the offering memorandum: Holston Place Apartments
