1208 Forest Avenue, Knoxville, TN 37916

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Steve G.

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Building Details:

1208 Forest Avenue is amulti-family property for lease in Knoxville, TN.

32 Beds of Walk-to-Campus Student Housing offered for sale only as a portfolio. The properties are all located on the south side of Forest Avenue between 12th and 13th Streets.

This group has 32 beds in four buildings on five contiguous parcels totaling 0.43 acres. The properties have 15 off-street parking spaces.

Orange House Properties are highly sought by the students. Units are easy to lease and stay full.

For Students: They offer a lower cost, convenient alternative to higher priced properties in the same walk-to-campus neighborhood. The properties feature large rooms with lots of wood flooring, many with updated kitchens with ranges, refrigerators and microwaves and renovated baths. Many units have washers and dryers furnished by the landlord. All units have heating and air conditioning with a combination of central, window and PTAC-type units.

For the Investor: The renovated buildings are in very good condition with no significant deferred maintenance. In fact, a major renovation was recently completed in some of the units. Roofs were replaced in 2011- 2012. For the 2016/17 leases, Tenants pay all their own utilities in all units except 203 12th Street. All leases are full-year, with joint and several tenant liability and some feature parental guarantees. Most tenants’ rental payments are made with direct deposit from either credit card or bank account. Third party management is available for those who desire a more passive investment.

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