2201 Lake Ave Unit 204, Knoxville, TN 37916

Property Description

Location, Location, Location! This fully renovated 3-bedroom, 2-bathroom condo sits in the heart of Knoxville—within walking distance of the University of Tennessee campus. Positioned at the corner of Volunteer Blvd, Lake Avenue, and 22nd Street (just behind Sunspot and Casey's), it offers unbeatable accessibility for students and professionals alike. Properties in this prime location are in constant demand, making this a rental goldmine. Turnkey Investment with Immediate Cash Flow! This condo is already generating income, rented for: * $2,850/month until August 1, 2025 * $3,075/month until July 31, 2026 With minimal effort, you'll earn a positive cash flow of over $22,500/year if purchased with cash—right from day one! This kind of stability is rare for investment properties in high-demand markets. The entire condo was renovated in 2021 with premium finishes: * New custom white shaker cabinets, large island with beautiful granite countertops. * Sleek stainless steel appliances * Updated bathrooms with stylish vanities and fixtures * New HVAC system installed in 2020; water heater and washer/dryer in 2021 * New Flooring throughout Hassle-Free Amenities & Parking. - 2 dedicated parking spaces (including 1 covered) - Extra parking available on surrounding streets - HOA fees cover internet, water/sewer, exterior maintenance, groundskeeping, and master insurance As Knoxville continues to grow and rental demand near UT remains high, this property offers incredible potential for long-term appreciation. You're not just buying a condo—you're securing an asset in a recession-resistant rental market backed by a continuous influx of students, faculty, and professionals. Need Property Management? As a specialist in property management, Michele Garren with Garren Realty LLC can help you maximize your returns and simplify the rental process. From tenant placement to ongoing maintenance, we offer full-service solutions to help you get the most from your investment. Ask us how we can manage this property for you! All information deemed reliable but not guaranteed. Buyer should verify all details, including measurements and HOA rules to their satisfaction.