Forestdale Apartments

Investment Overview

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 $993 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.

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 $993 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.