702 Luttrell St, Knoxville, TN 37917

Property Description

Discover a rare opportunity to own a well maintained and charming Victorian era four-unit investment property in the highly desirable Fourth & Gill neighborhood. This house is centrally located with easy walking and biking access to downtown Knoxville, parks, and local businesses on the North Central and Broadway corridors as well as an easy commute to the University of Tennessee campus. The house is zoned for multifamily and is currently divided into four well-proportioned one bedroom and bath units with kitchen, all with private entry access. While all fully rented units are in great condition, two of the units have been renovated in the past three years with new flooring and kitchens and the other two units can continue to be rented as-is or can provide an investor upside opportunity to thoughtfully upgrade and continue to attract high quality tenants. This property uniquely combines modern amenities for renters in an ideally located and beautiful historic house close to a bustling downtown and up-and-coming North Knoxville entertainment district. Because of its location and strong community of neighbors who take pride in preservation and community interaction, the neighborhood consistently outperforms citywide averages with steady 5-7% annual appreciation. It's established prestige and the historic preservation ensures a strong and steady rental rate, staying occupied year round. Surrounded by meticulously maintained Victorian, Barber, Craftsman, and early-20th-century homes, Fourth & Gill is among the best of Knoxville's historic neighborhoods. Developed in the late 19th century, this National Register district has evolved into one of the city's most desirable residential communities, offering: Walk or bike to Everything: Downtown Knoxville, the University of Tennessee campus, and an array of acclaimed restaurants, breweries, bars, and parks are all nearby. Please do not disturb the tenants and schedule directly with agent to see all four units and storage building.