401 Cherry St Pending Save Request In-Person Tour Request Virtual Tour
Knoxville,TN 37914
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Pending
Purchase Type For Sale
Square Footage 1,170 sqft
Price per Sqft $155
MLS Listing ID 1289480
Style Cottage
Bedrooms 3
Full Baths 2
Year Built 1994
Lot Size 7,405 Sqft
Property Sub-Type Single Family Residence
Property Description
Seller says bring all offers!!
**Steady Income Investment with Long-Term Tenant - 401 S Cherry St, Knoxville, TN**
Investors, here's a rare opportunity to own a **3-bedroom, 2-bathroom** rental property with a **long-term, reliable tenant** in place. This home is currently leased to a **KCDC tenant** who has lived in the property for over **15 years**, consistently paying **on time** and expressing a desire to stay.
While the **current rent of $1,260/month is below market**, a structured **20% annual increase** has been agreed upon with the tenant until market rent is achieved, making this a **high-upside investment** with built-in growth potential.
The home itself is well-maintained, offering a **functional layout** and solid structure, minimizing maintenance concerns. Located in a convenient area with **strong rental demand**, this property is perfect for an investor looking for **stability and future appreciation**.
Don't miss this **turnkey, cash-flowing asset** with a built-in rent growth strategy. **Schedule a viewing today!**
Owner/Broker
Location
State TN
County Knox County - 1
Area 0.17
Interior
Heating Central,Natural Gas
Cooling Central Cooling,Ceiling Fan(s)
Flooring Carpet,Hardwood,Tile
Fireplaces Type None
Exterior
Exterior Feature TV Antenna
Parking Features Off-Street Parking
Garage Description Off-Street Parking
Building
Lot Description Corner Lot,Level
Sewer Public Sewer
Water Public
Structure Type Brick,Frame
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional