5216 Tillery Rd
Property Description
Five-unit townhome community offering immediate income and excellent value-add potential in a convenient Knoxville location. Each two-story unit features two bedrooms, one-and-a-half bathrooms, a well-configured main living area, generous closet space, and a dedicated laundry room off of a private rear patio. The property currently generates over $76,000 in annual rental income, with all five tenants now on month-to-month agreements--providing the next owner with flexibility to renovate, reposition, and evaluate future rental rates. Each unit is separately metered, with tenants responsible for all utilities. Additional features include a paved parking lot, backyard space, and a low-maintenance exterior. Built in 1972, the property would benefit from further updating, presenting an opportunity for an investor to improve the long-term performance of the asset. Conveniently located along the city bus line near Victor Ashe Park, downtown Knoxville, the University of Tennessee, and within walking distance to schools, the library, medical facilities, shopping, and dining. This is a rare opportunity for immediate income, flexible tenancy, and clear value-add in one of Knoxville's most connected locations.
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $775,000 |
| No. of Units: | 5 |
| Year Built: | 1972 |
| Lot Size: | 5,000.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $155,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 10 |
| Number of Bathrooms: | 0 |
ID: 3yd-KAARMLSTN-1350369
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