Catylist ID:
#30842106
109 Units - The Adelade - Knoxville, TN
Multi-Family
for Sale
Sale Pending
| Catylist Listing ID: | 30842106 |
| Property Subtypes: | Low-Rise/Garden |
| Status: | Pending |
| Number of Units: | 109 Units |
| Building Size (RSF): | 88,729 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 4.56 SF |
| Sale Price: | $18,000,000 |
| Unit Price: | $165,137.61 Per Unit |
| In Opportunity Zone? | Yes |
| Property Use Type: | Investment |
| Building Name: | The Adelade Apartment Homes |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 5.8% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 12/1/2023 |
Overview / Comments
|
SVN Wood Properties is pleased to present The Adelade, a 109-unit, exceptionally-amenitized apartment community in Knoxville, Tennessee. Located in the expanding South Knoxville submarket, this garden-style complex is conveniently situated near Downtown, the University of Tennessee, and sought-after employment and retail destinations. Renovated in 2019, The Adelade is an attractive investment opportunity with no deferred maintenance. A light value-add program can further enhance the property by adding washer and dryer connections, granite countertops, and stainless-steel appliances. Despite market rents, the South Knoxville submarket has seen rapid development and sustained high occupancy levels. Acquiring The Adelade allows for the expansion of the value-add program, rent growth, and the creation of additional value in this thriving market. Link to More Information: https://svnwood.com/inventory/?propertyId=1208131-sale |
Attachments & Media
Additional Details
| Nearest MSA: | Knoxville |
| County: | Knox |
| Tax ID/APN: | 109BF04101 |
| Percent Occupied: | 100% |
| Community Amenities: | Outdoor Pool, Community Building, Recreation Room, Exercise Room, Business Center, On-Site Maintenance |
| Total Number of Buildings: | 15 |
| Number of Stories: | 3 |
| Year Built: | 1968 |
| Year Renovated: | 2021 |
| Parking Type: | Surface |
| Total Parking Spaces: | 143 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 10,199 | 65,818 | 128,150 |
| Median Age: | 31.4 | 31.94 | 34.96 |
| Households: | 4,451 | 25,998 | 54,248 |
Contact
Jon RoosenSVN l Wood PropertiesETNRCRE Member 
Kevin TiptonSVN I Wood PropertiesETNRCRE Member |
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