2506 Legion Drive, Knoxville, TN 37920
$250,000
Property Type:
Multi-Family
Square Footage:
1,718
Lot Size (sq. ft.):
25,063
Status:
Closed
Current Price:
$250,000
List Date:
6/12/2023
Last Modified:
8/14/2023
Description
AMAZING SOUTH KNOX LOCATION - 3 UNITS - Welcome to this beautiful setting just minutes from downtown Knoxville, UT Medical Center and the University of TN. Seller is retiring after owning this property for over 50 years. Tenants are very long term and would love to stay. Units have stoves, refrigerators and combo heat/air units (ptacs). The two bedroom units have washer/dryer connections in a closet on their rear porch. Seller pays water, property is on septic, and tenants pay electric.. There is an easement for the shared driveway with 2512 Legion next door.
More Information MLS# 1229970
Location, Tax & Legal Info
House #: 2506
Street Name: Legion
St Suffix: Drive
State/Province: TN
Zip Code: 37920
Area: Knox County - 1
PIN #: 122NB010
Total Tax: 989.59
Geo Lat: 35.912356
Geo Lon: -83.941158
Contract Info
Auction Y/N: No
Listing Price: 295000
Current Price: $250,000
Status: Closed
Listing Date: 2023-06-12
Cooperation Comp: 2.4
Compensation Type: %
General Property Description
SqFt - Total (Aprox): 1718
Lot Dimensions: 145X231XIRREG
Lot Size SqFt: 25063
Number of Units: 3
# Units Leased: 3
Utilities/Mo Avg: 30
Year Built: 1950
Property Status: N/A
Restrictions: No
Driveway: Paved
Lease Information: All tenants are longterm and month to month
Remarks & Misc
Directions: Alcoa Hwy from downtown take first exit. Continue on access road to Maloney. Turn left and cross over Alcoa Hwy. At Belt Rd turn left. Almost immediately turn right onto Legion Dr. Just past stop sign at Shaler, property will be on the right. Shares common driveway with 2512 Legion. No sign on property.
Public Remarks: AMAZING SOUTH KNOX LOCATION - 3 UNITS - Welcome to this beautiful setting just minutes from downtown Knoxville, UT Medical Center and the University of TN. Seller is retiring after owning this property for over 50 years. Tenants are very long term and would love to stay. Units have stoves, refrigerators and combo heat/air units (ptacs). The two bedroom units have washer/dryer connections in a closet on their rear porch. Seller pays water, property is on septic, and tenants pay electric.. There is an easement for the shared driveway with 2512 Legion next door.
Status Change Info
Status Change Date: 2023-06-30
Under Contract Date: 2023-06-15
Sold Date: 2023-06-30
Sold Price: $250,000
Income/Expenses
Gross Annual Income: 16440
Annual Oper Expenses: 2750
Net Operating Income: 13690
Property Features
Property Sub-Type: Triplex
Type of Units: Efficiency Unit; 2 Bedroom Unit
Sale Includes: Building and Land
Floors: Carpet; Hardwood; Tile; Vinyl
Tenant Expenses: Cooling; Electricity
Owner Expenses: Insurance; Lawn Maintenance; Taxes; Trash Collection
Fuel: Electric
Heat: Other
Cooling: Other
Appliances: Range; Refrigerator
Construction: Frame
Roof: Metal
Garage/Parking: On Premise Parking
Exterior Features: Porch - Covered
Misc Features: None
Other Rooms: Other
Miscellaneous: Porch
New Financing: Cash; Conventional
Showing: See Agent Instructns
Property Financials ›Listing Office: Goldman Partners Realty, LLC
Office Phone: 865-444-3240
Last Updated: August - 14 - 2023
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