711 Murray Drive
Property Description
711 Murray Drive & 719 Murray Drive offer the opportunity to acquire eight units across two adjacent four-unit multifamily properties. The properties total approximately 6,689 square feet on 1.32 acres. Each property includes two 2BR/1BA and two 1BR/1BA units, for a combined unit mix of four 2BR/1BA and four 1BR/1BA residences. 711 Murray Drive is fully leased with long-term tenancy in place and includes on-site laundry with the opportunity to expand tenant use. Recent improvements include a new driveway, deck, concrete, gutters, shed, and flooring improvements. The adjacent 719 Murray Drive offers immediate value-add potential. One unit is currently occupied under a one-year lease, while the remaining three units have been cleared and primed, allowing a new owner to complete interior finishes and bring the units back online. Recent improvements include a newer roof, upgraded electrical service boxes, new concrete, and gutters. Together, the properties offer a combination of existing rental income at 711 Murray Drive and renovation and lease-up potential at 719 Murray Drive. Please note: 711 Murray Drive is available only as part of the combined offering and will not be sold separately. 719 Murray Drive may be purchased independently.
Broker Details
Cornerstone Commercial Real Estate Services of Knoxville LLC (865) 450-8883
MLS ID: 340823
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,010,000 |
| No. of Units: | 8 |
| Year Built: | 1971 |
| Lot Size: | 3,256.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $126,250 |
| Property Website | Click Here |
| Number of Bedrooms: | 12 |
| Number of Bathrooms: | 0 |
ID: 3yd-KAARMLSTN-1353401
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