Investment Overview

Marcus & Millichap has been selected to exclusively market for sale The Flats at Scheel in Knoxville, TN. This offering will allow a potential investor to purchase a rare investment opportunity located in scenic Knoxville. In 2020, The Flats at Scheel underwent a full-scale renovation down to the studs, requiring a new Certificate of Occupancy. This comprehensive renovation included upgrading all units to contemporary standards, replacing outdated plumbing, and installing a brand-new electrical system in compliance with city regulations. These significant capital improvements have greatly reduced near-term maintenance costs while enhancing the property’s overall appeal. Additionally, current ownership has introduced an on-site laundry facility, creating an additional revenue stream. With these upgrades in place, The Flats at Scheel offers investors a turnkey asset with strong rental demand in a growing Knoxville market. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE FLATS AT SCHEEL.