1540 E Old Topside Rd, Louisville, TN 37777

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Building Details:

• Year Built: 2009

1540 E Old Topside Rd is located in Louisville, TN.

Contact Listing Agents for complete marketing package, financial analysis and drawings.

Avalon Apartment Homes is a partially-completed, bank-owned apartment complex formerly permitted for 104 units on 10.32 acres. The project stalled upon virtual completion of 32 units in four buildings when the developer lost his funding and the lender subsequently took back the property in a foreclosure sale.

Of the 32 units, 24 units are completed and in service and the remaining eight are under roof but need interior finish to complete.

For the remaining 72 units, major site work is completed including two retention basins, sanitary sewer pump station and the sidewalk along Old Topside Road. Water loop for entire development is reportedly in place. Electrical utilities to existing units are all underground.

The buildings were built in 2009-2010. Each building has 8 units: six 2-BR/1BA units and two 3-BR/1BA units which are on the upper level.

Buildings are fully sprinklered and are frame construction with brick fronts and vinyl siding on the sides and rear. Garden-syle units have breezeway-style entrances from a common hallway. The ground floor of each 2-story building has a laundry room configured for 2 pairs of machines and is an additional revenue source. Units do not have laundry connections.

Avalon Apartment Homes is in the city of Alcoa (but has a Louisville, TN mailing address) and therefore families get the benefits of the well-regarded Alcoa schools, police and fire departments. The property is ideally located for residents employed in the Louisville community itself, Alcoa, Maryville and Knoxville via easy access from either Pellissippi Parkway or Alcoa Highway.

We are pleased to offer this significant opportunity to own a new, work-force complex in an area of high demand for an investor with construction and development capability.

Full set of drawings are available. Property will be conveyed As-Is by lender with Special Warranty Deed.

Interested parties are encouraged to drive the property, but please do not talk to or otherwise disturb the residents. Call listing agents to arrange a tour.