Forestdale Apartments
Multifamily | 32 Units | $114,063/unit
Marketing description
SVN | Wood Properties is proud to present 3014 Forestdale Ave — a beautifully updated 32 unit multifamily property in North Knoxville, just minutes from downtown. This well-maintained building features modern one-bedroom, one-bath units.
Each unit currently rents for $980 per month on average, with market rent potential of $1,150, offering immediate upside for investors. Recent renovations and included utilities — water, landscaping, and waste service — make for easy ownership and strong tenant appeal. Included with the property is a vacant building that could be turned into an onsite laundry room, or a 33rd unit for additional income.
This property also includes .75 acres (+/-) in the rear part of the property that could be used to build additional units, parceled and sold off, or used to create amenity space.
With its prime location, solid in-place income, and room to grow rents, this property stands out as a turnkey investment opportunity in one of Knoxville’s steadily growing neighborhoods — a true plus for any multifamily portfolio.
This property is part of a 129 Unit portfolio that can be purchased together.
Pease use this link to the deal room: https://svnwood.com/inventory/?propertyId=1576427-sale
Investment highlights
Turnkey asset with recent renovations — Updated 1BR/1BA units featuring modern finishes, and minimal CapEx needs.
Strong in-place income with immediate rent upside — Current rents at $980 with market potential around $1,150, providing a clear value-add pathway.
Prime North Knoxville location — Minutes from downtown, I-640, and major employment hubs, supporting high renter demand and stable occupancy.
Ownership-friendly utility structure — Water, landscaping, and waste service are included, simplifying management and enhancing tenant retention.
Solid stabilized performance with growth potential — A great fit for investors seeking a low-maintenance, income-producing asset in a growing submarket.
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