1203 Fair Drive, Knoxville, TN 37912
- $447,500
- 2,250
- SqFt
- Sold Price
- $447,500
- List Price
- $450,000
- Closing Date
- Jul 11, 2025
- MLS#
- 1305986
- Status
- CLOSED
- Type
- Multifamily
- City
- Knoxville
- County
- Knox
- Living Area
- 2,250
- Lot Size
- 14,985
- Year Built
- 1968
- Subdivision
- Wassmans Add
Property Description
Fully renovated in 2023, this turn-key four-plex features four 1-bedroom, 1-bathroom units—each currently rented at $995/month with significant upside potential. Market rents in the area support $1,100-$1,200/month, offering a 10-20% lift for the next investor. Major upgrades include a new roof, energy-efficient windows, and full bathroom remodels in all units. Kitchens have been refreshed with new countertops, and two of the four units feature updated ranges. Each unit is equipped with a refrigerator and range. Additional improvements include: Fresh paint throughout all interiors All-new flooring in both downstairs units, with updated kitchen flooring in the upstairs units Two new HVAC wall units installed in the lower units, along with upgraded electrical New stair landing and exterior railings for added safety and curb appeal With all units move-in ready and below-market rents, this is an excellent opportunity for immediate cash flow and long-term appreciation. Schedule a showing today and add this stabilized asset to your portfolio
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Additional Information
- Acres
- 0.34
- Appliances
- Range, Refrigerator
- Construction
- Fiber Cement, Brick
- Cooling
- Window Unit(s)
- Floors
- Vinyl
- Garage
- Off-Street Parking
- Living Area
- 2,250
- Lot Dimensions
- 101x149xIRR
- Year Built
- 1968
Mortgage Calculator
Agent: Wala Habiby |
Office: Realty Executives Associates |
Selling Office: .