2506 Legion Drive
Knoxville, TN 37920
$399,900
Price
—
Beds
1,800 Sq. Ft.
$222 / Sq. Ft.
1,800
Sq. Ft.
$222
per Sq. Ft.
Description
Incredible multi-family investment opportunity in South Knoxville! This rare find is perfect for both first-time investors and seasoned real estate professionals looking to expand their portfolio. Priced to sell, this converted three-unit property is a unique find in today's market. The units are currently occupied by long-term tenants who would love to stay. Each unit is equipped with essential appliances, including stoves, refrigerators, and combo heat/air units (PTACs). Pictured is the renovated...Incredible multi-family investment opportunity in South Knoxville! This rare find is perfect for both first-time investors and seasoned real estate professionals looking to expand their portfolio. Priced to sell, this converted three-unit property is a unique find in today's market. The units are currently occupied by long-term tenants who would love to stay. Each unit is equipped with essential appliances, including stoves, refrigerators, and combo heat/air units (PTACs). Pictured is the renovated 1 bedroom/1 bathroom. The two-bedroom units offer washer/dryer connections conveniently located on the rear porch. The seller covers water, as the property is on septic, while tenants are responsible for electric. Septic lines were completely replaced in 2023. There is an easement in place for the shared driveway with the neighboring property at 2512 Legion. Don't miss out on this incredible investment opportunity to cash flow immediately! Contact the listing agent directly to schedule your showing today.
- Listed by Samuel Anderson • Realty Executives Associates
Amenities
- Driveway
- Parking Included
- Porch
- Refrigerator
- Shared Driveway
- Stove
LISTING UPDATED: 09/13/2024 05:03 PM
Property Details for 2506 Legion Drive
| Status | Active |
|---|---|
| MLS # | 1276464 |
| Days on Market | 99 |
| Taxes | $990 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family |
| Year Built | 1950 |
| Lot Size | 0.00 AC / 0 SF |
| County | Knox County |
Building Information for 2506 Legion Drive
Stories-Residences3Year Built1950Building Size-Lot Size0.00 AC / 0 SF
Property Information for 2506 Legion Drive
Summary
Location and General Information
- City: Knoxville
- County Or Parish: Knox County - 1
- 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.
- Latitude: 35.912356
- Longitude: -83.941158
- MLS Area Major: Knox County - 1
- MLS Area Minor: Knox County - 1
- Postal Code: 37920
- State Or Province: TN
- Location Tax Legal Info Area: Knox County - 1
- 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.
Parking
- Attached Garage: No
- Parking Features: On Premise Parking
- General Property Description Driveway: Paved
- Garage Parking On Premise Parking: True
Taxes and HOA Information
- Association Fee: 0.0
- Parcel Number: 122NB010
- Owner Expenses Taxes: True
- Location Tax Legal Info Total Tax: 989.59
Virtual Tour
- Virtual Tours Count: 0
Property
Lot Information
- Lot Size Area: 0.0
- Lot Size Square Feet: 0.0
- Year Built: 1950
- Building Area Total: 1800.0
- Living Area Source: Owner
- Lot Size Acres: 0.0
- Lot Size Dimensions: 145X231XIRREG
- General Property Description SqFt - Source: Owner
- General Property Description Lot Dimensions: 145X231XIRREG
Property and Assessments
- Possession: At Closing
- Property Type Label: Multi-Family
- Floor Plans Count: 0
- Property Type: Multi-Family
- Possession At Closing: True
Utilities
- General Property Description UtilitiesMo Avg: 30.0
- Fuel Electric: True
- Misc Features Internet Available: True
Interior and Exterior Features
Exterior Features
- Construction Materials: Cement, Frame
- Siding Cement: True
Interior Features
- Bathrooms Total Integer: 0
- Kitchen Appliances: Range, Refrigerator
- Flooring: Hardwood, Carpet, Vinyl, Other, Tile
- Heating: Yes
- Floors Carpet: True
- Floors Hardwood: True
- Floors Tile: True
- Floors Vinyl: True
- Heat - Other: True
- Appliances Range: True
- Appliances Refrigerator: True
- Other Rooms Other: True
- Roof Metal: True
Multi Family
Income & Expenses Information
- Gross Income: $32,700.00
Multi-Family Information
- Number Of Units Total: 3
- Type of Units 1 Bedroom Unit: True
- Type of Units 2 Bedroom Unit: True
- Income Expenses Gross Annual Income: 32700.0
Unit 1
- Unit 1 Unit Number: 1
- Unit 1 Beds Total: 2
- Unit 1 Rent: 975
- Unit 1 Squarefeet: 675.0
- Unit 1 Furnished: Unfurnished
Unit 2
- Unit 2 Unit Number: 2
- Unit 2 Beds Total: 2
- Unit 2 Rent: 750
- Unit 2 Squarefeet: 675.0
- Unit 2 Furnished: Unfurnished
Unit 3
- Unit 3 Unit Number: 3
- Unit 3 Beds Total: 1
- Unit 3 Rent: 1000
- Unit 3 Squarefeet: 450.0
- Unit 3 Furnished: Unfurnished
Rental
Rent Information
- General Property Description Number of Units Leased: 3.0
- General Property Description Restrictions: No
- Tenant Expenses Cooling: True
- Tenant Expenses Electricity: True
- Tenant Expenses Heating: True
Property History for 2506 Legion Drive
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2506 Legion Drive
Taxable ValueLand-Additions-Total-
Tax Record2024$990 ($82 / month)
Home Facts
Baths3Total Finished SqFt1,344 SqFtAbove Grade Finished SqFt1,344 SqFtStories1Lot Size26,136 SqFtStyleDuplexYear Built1950Year Renovated1980CountyKNOXAPN122NB010
Schools near 2506 Legion Drive
This home is within Knox County School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | PK to 12 |
Rating | School | Distance |
|---|---|---|
Mt Olive Elementary School PublicPK to 5 | ||
South Doyle Middle School Public6 to 8 | ||
South Doyle High School Public9 to 12 | ||
Knox Adaptive Education Center PublicPK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Realty Executives Associates, Samuel Anderson
The information is being provided by MTRMLS, Inc. Properties marked with the MTRMLS logo are provided courtesy of the RealTracs Internet Data Exchange Program. Information is believed to be accurate but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 MTRMLS, Inc. All Rights Reserved. Last updated: 09/13/2024 05:03 PM