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Updated almost 2 years ago,
Closed 128 Units in Knoxville, TN @ 69k per door!
Late Friday we closed 128 units in Knoxville, TN.
Deal Summary:-2005 Build-$69k per door-
Majority 2 beds with some 1’s&3’s-. Average rents are $700, and are going to go to $1,200. We own the property next door!
$450k seller financing- We used a Community Bank and got an 80% Loan to Cost loan.
Going to refinance when rates drop.
$80k + median income
The deal appraised for just under $16,000,000!