123 E Springdale Ave, Knoxville, TN 37917

Property Description

THREE UNITS. $3,400 IN MONTHLY RENT. ROOM TO BUILD VALUE! Put your next investment to work just outside Knoxville's vibrant Happy Holler district! This commercially zoned multifamily property combines existing rental income with opportunities to renovate, improve, and explore additional income potential. Two apartments are currently rented month-to-month. The two first-floor units rent for $1,200 each, and the upstairs apartment rents for $1,000--totaling $3,400 per month in gross rental income. Tenants pay their own utilities, and each apartment has a separate electric meter. Bring your vision and capitalize on the opportunity to make improvements! The existing apartments would benefit from repairs, cleaning, and modernization, offering investors a path to enhance the property and potentially increase future rents. Additional square footage in an unfinished upper-level space offers potential for a fourth unit, subject to applicable zoning, permitting, inspections, and governmental approvals. Additional highlights include new water lines installed to the street by the seller. A newer roof, large lot, rear street access, and convenient off-street parking add to the appeal. Existing income, renovation upside, and potential to expand--all near one of Knoxville's lively neighborhood destinations. Schedule your showing and explore the possibilities!