3404 Dill St, Knoxville, TN 37917

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Building Details:

• Year Built: 2001

3404 Dill St is located in Knoxville, TN.

Beautifully-maintained and landscaped, this twelve- unit brick and vinyl siding apartment building offers a stabilized investment opportunity for an investor. A desirable mix of eight two-bedroom and four three- bedroom units makes it attractive for families.

First time on market! Built in 2001 as a tax credit development. All current residents receive rent subsidy (vouchers). Property is eligible for tax credit rehab after 12/31/2016 which is the end of the 15-year compliance period).

A secluded location on the side of Sharp Ridge is also convenient to shopping and Interstates 275 and 640. In addition, it is less than four miles from downtown and the University of Tennessee.

Generous floor plans, washer/dryer connections in each unit and off-street parking make leasing easy. Historical high occupancy and rents subsidies from KCDC provide a highly predictable income stream.

Residents pay their own electric and gas. Landlord pays water/sewer, electric for street lights and the house meter for the alarm system and common area lights.

ABOUT THE LAND USE RESTRICTIVE COVENANTS
Prospective purchasers are advised that this property was built under the tax credit program administrated by THDA (Tennessee Housing Development Agency) and therefore has a LURC (Land Use Restrictive Covenants) recorded. The LURC is in place for 30 years but the tax credits under the original development contract on this property ended and 12/31/2016 is the end of the 15-year compliance period.