Sold Archives - Residential Investment Advisors

Lakeside Apartments

$1,250,000

Status	Sold
Property Type	Apartment Building
Number of Units	12
Address	500 & 506 Lakeside St. Knoxville, TN 37914
Sqft	7392 Rentable Sq Ft
Listing Agent	Landon Hoffman
County	Knox

Lakeside Apartments are a prime investment opportunity in the thriving market of Knoxville, TN. Located at 500 & 506 Lakeside Street, this multifamily property represents a golden prospect for seasoned investors looking to capitalize on the robust potential of the Knoxville market.

Key Property Details:

Location: 500 & 506 Lakeside Street, Knoxville, TN
Built: 1968
Unit Mix: 11 Two-bedroom units, 1 One-bedroom unit
Construction: Mostly brick exterior
Utilities: Master water meter with RUBS in place; Individual electricity metering

Why Knoxville?

Knoxville stands out as an exceptional market for multifamily investment, driven by a combination of economic, demographic, and lifestyle factors. Here's why:

Economic Growth: Knoxville has experienced steady economic growth, supported by diverse industries, including healthcare, manufacturing, and technology. This stability translates to a reliable tenant pool for multifamily properties.
Population Growth: The city has consistently attracted a growing population, fueled by its affordability, quality of life, and a strong job market. More people moving to the area means increased demand for rental properties.
Educational Hub: Home to the University of Tennessee, Knoxville is a hub for education, drawing students and faculty members. This ensures a consistent demand for rental housing in the vicinity.
Proximity to Urban Amenities: Residents enjoy the benefits of urban living with a wide range of amenities, entertainment options, and cultural attractions. Proximity to recreational areas, parks, and the waterfront enhances the overall appeal of the location.

Investment Highlights:

Built-in Cash Flow: The property's eleven 2-bedroom units and one 1-bedroom unit provide a stable and diversified income stream.
Value-Add Opportunities: Unlock significant value by renovating older units to meet modern standards. Implementing strategic upgrades can lead to higher rental rates, increasing the property's overall income potential.

Utilities:

Water: With a master water meter and RUBS system in place.
Electricity: Each unit is individually metered for electricity.

The Path to Profit: The investment strategy for 500 & 506 Lakeside Street revolves around capitalizing on the strong market fundamentals of Knoxville. Investors can achieve increased returns through targeted renovations and rent adjustments, aligning rental rates with the current market trends. Seize the opportunity to be a part of Knoxville's growth story. For detailed financials, renovation projections, and a personalized investment analysis, contact us today. This multifamily gem is poised to deliver long-term value and financial success in the dynamic Knoxville market. Disclaimer: This offering is available to qualified investors. Due diligence is advised, and all interested parties should consult with their financial advisors before making investment decisions.

Details

North 5th Triplex

$599,000

Status	Active, Sold
Address	1127 North 5th St. Nashville, TN
Number of Units	3
Property Type	Small Multi-Family (Duplex, Triplex Quadplex)
Sqft	1,936
Listing Agent	Landon Hoffman
County	Davidson County

Welcome to an exclusive investment opportunity with this rare triplex in East Nashville, TN. Conveniently positioned at 1127 N. 5th Street, this multifamily property beckons experienced investors seeking to leverage the undeniable potential of the Nashville real estate market.

Key Property Details:

Location: 1127 N. 5th Street, Nashville, TN 37207
Built: 1956
Unit Mix: (All Units Currently Vacant)
- 1 x 3-bedroom, 2-bathroom unit
- 1 x 2-bedroom, 1-bathroom unit
- 1 x 1-bedroom, 1-bathroom unit
Construction: Brick and hardy plank exterior
Utilities: Individually metered for water, electricity, and gas
HVAC: Central Heat and Air in 2 units, Baseboard and window units in 1 Unit.

Why Nashville?

East Nashville has become a hotspot for multifamily investments due to a confluence of factors that make it a standout market:

Music City's Economic Crescendo: As a dynamic economic hub, Nashville has experienced substantial growth across various sectors, including healthcare, technology, and finance. This translates into a robust job market, attracting a diverse and growing population.
Population Magnet: Renowned for its cultural vibrancy and quality of life, Nashville consistently draws new residents. The influx of people fuels demand for rental properties, making it an ideal environment for multifamily investments.
Tourism and Entertainment Capital: Nashville's status as a premier tourist destination ensures a steady demand for short-term and long-term rental properties. The city's entertainment scene, cultural attractions, and events contribute to the year-round appeal for residents.
Thriving Arts and Education Scene: Home to world-class universities, a burgeoning arts scene, and a commitment to education, Nashville attracts students, young professionals, and families, creating a diverse tenant base.

Investment Highlights:

Unit Diversity: The property's mix of 3-bedroom, 2-bedroom, and 1-bedroom units caters to a broad demographic, enhancing tenant appeal and marketability.
Low Maintenance: The combination of brick and hardy plank exterior ensures durability and low maintenance costs, providing long-term value for investors.

Operational Advantages:

Individually Metered Utilities: Tenants are responsible for their water, electricity, and gas usage, minimizing operational complexities and optimizing expense management.
Conveniences: there are Washer/dryer in each unit that will be sold with property

Value-Add Opportunities:

Rental Rate Optimization: Substantial upside potential exists through the adjustment of rents to align with current market rates, optimizing cash flow and overall property value.
Strategic Renovation: Enhance the property's overall appeal by renovating the 2/1 and the 1/1 units, increasing its rental potential and attracting high-quality tenants.
DADU Zoning: The property is zoned for a Detached Accessory Dwelling Unit (DADU), opening up additional development possibilities for savvy investors seeking to maximize the property's potential.

This is a rare opportunity to capitalize on the dynamic growth of Nashville. For a comprehensive financial analysis, renovation projections, and to discuss the strategic potential of this multifamily property, connect with us today. Your investment journey in the heart of Nashville awaits. Disclaimer: This offering is exclusively available to qualified investors. Due diligence is recommended, and all interested parties should consult with their financial advisors before making investment decisions.

Details

1358 Moss Rose Road

$219,000

Status	Sold
Address	1358 Moss Rose Road, Clarksville, TN
Number of Units	2
Property Type	Duplex
Sqft	1100
Listing Agent	Landon Hoffman
Contact	615-267-3788
County	Montgomery County

Welcome to this quaint duplex nestled in the heart of Clarksville, Tennessee, offering a prime opportunity for the savvy real estate investor. This beautifully renovated property boasts two spacious units, one of which is currently vacant, while the occupied unit generates a steady income of $1,100 per month, showcasing the income potential this investment holds. Located in a tranquil and friendly neighborhood, this duplex provides a serene oasis just minutes away from the bustling downtown area of Clarksville. With its turnkey status, this property promises a hassle-free investment experience, making it an ideal choice for those seeking to capitalize on the thriving real estate market in this charming Tennessee town. Don't miss out on the chance to make this duplex your next real estate success story!

Details

North Moore

$299,000

Status	Sold
Address	413 N. Moore Dr. Chattanooga, TN
Number of Units	5
Property Type	Small Multi-Family (Duplex, Triplex Quadplex)
Sqft	2154
Current Listing Price	TBD
Listing Agent	Albert Drake
County	Hamilton County

Discover a promising 5-unit value add property conveniently situated minutes from the heart of Chattanooga, TN. Constructed in 1940, this 1.5-story building spans 2154 sq ft and has been converted from a triplex into a 5-plex with separate electric meters and master water & gas meters. The units have a mix of central and window air units. With two updated units demonstrating the proof of concept, the property is ready for the right investor to finish the work and maximize their returns. Unlock this property's potential by capitalizing on prudent updates, competitive rental rates in a desirable area of Chattanooga. Act now to explore this valuable investment.

Details

Monaco Duplex

Status	Sold
Number of Units	2
Property Type	Duplex
Sqft	3150
Current Listing Price	$399,000
Listing Agent	Kristina Rivers
Contact	615-551-1189
County	Davidson County

Seize a lucrative investment opportunity with this exceptional duplex in sought-after Davidson county. This property boasts not one but two income-generating units, each featuring 3 bedrooms and 1.5 bathrooms, spread across a spacious 1575 square feet. With modern upgrades, a newer roof and AC units, maintenance becomes a breeze. Rental comps strongly support market rents in the range of $1800 to $2100 per side, ensuring a steady and substantial return on your investment. Whether you're an experienced investor looking to diversify your multifamily portfolio or a savvy newcomer eager to step into real estate, this duplex promises a solid, long-term investment with remarkable income potential.

Details

Quadplex for sale in Rayon City neighborhood of Old Hickory, TN

Historic Ensley Quadplex

Status	Sold
Address	207 Ensley Avenue, Old Hickory, TN 37138
Number of Units	4
Property Type	Quadplex
Sqft	2736
Current Listing Price	$399,000
Closed On	8/15/2023

The Ensley Quadplex in Old Hickory, TN is a great investment opportunity for those seeking a multifamily property in Davidson County. Built in 1930, this property boasts 2,700+ square feet of living space, comprising four 1-bedroom and 1-bathroom units, 2 units are equipped with washer and dryer hookups. One of the units has already had minor cosmetic updates done to it, providing a glimpse of the potential for the rest of the units. With its historical charm and prime location, this Quadplex presents a valuable opportunity for investors who are looking to renovate and increase rental income. Don't miss out on this chance to own a piece of history while also generating rental income.

Details

Wahella Duplex – Sold

Status	Sold
Address	300 & 302 Wahella Way, Columbia, TN 38401
Number of Units	2
Property Type	Duplex
Sqft	1800
Current Listing Price	$325,000
Listing Agent	Hunter Smith, Kristina Rivers
Contact	615-551-1189 for Kristina 615-265-6855 for Hunter
County	Maury County

This is a great opportunity to own a unique all brick duplex with two bedrooms and one bathroom units in a very nice neighborhood. The building is individually metered and offers storage for both units. The floors are only four years old and lots of work has been done to the building - new caulk, metal framing, and sealed windows. The property line extends past the firepit and shared parking is available.

Details