Active
2201 Lake Ave, 204
Knoxville TN, 37916
$499,999
$462.96 per sqft
Active
3 Beds
2 Baths
1,080 sqft
Condos
Built in 1995
Location, Location, Location!
This fully renovated 3-bedroom, 2-bathroom condo sits in the heart of Knoxville--within walking distance of the University of Tennessee campus. Positioned at the corner of Volunteer Blvd, Lake Avenue, and 22nd Street (just behind Sunspot and Casey's), it offers unbeatable accessibility for students and professionals alike. Properties in this prime location are in constant demand, making this a rental goldmine.
Turnkey Investment with Immediate Cash Flow!
This condo is already generating income, rented for:
* $2,850/month until August 1, 2025
* $3,075/month until July 31, 2026
With minimal effort, you'll earn a positive cash flow of over $22,500/year if purchased with cash--right from day one! This kind of stability is rare for investment properties in high-demand markets.
The entire condo was renovated in 2021 with premium finishes:
* New custom white shaker cabinets, large island with beautiful granite countertops.
* Sleek stainless steel appliances
* Updated bathrooms with stylish vanities and fixtures
* New HVAC system installed in 2020; water heater and washer/dryer in 2021
* New Flooring throughout
Hassle-Free Amenities & Parking.
- 2 dedicated parking spaces (including 1 covered)
- Extra parking available on surrounding streets
- HOA fees cover internet, water/sewer, exterior maintenance, groundskeeping, and master insurance
As Knoxville continues to grow and rental demand near UT remains high, this property offers incredible potential for long-term appreciation. You're not just buying a condo--you're securing an asset in a recession-resistant rental market backed by a continuous influx of students, faculty, and professionals.
Need Property Management?
As a specialist in property management, Michele Garren with Garren Realty LLC can help you maximize your returns and simplify the rental process. From tenant placement to ongoing maintenance, we offer full-service solutions to help you get the most from your investment. Ask us how we can manage this property for you!
All information deemed reliable but not guaranteed. Buyer should verify all details, including measurements and HOA rules to their satisfaction.
1290758
MLSⓇ ID
February 21, 2025
Listed
February 21, 2025
Updated
Interior Features
Bedrooms
3
Total Bathrooms
2
Full Bathrooms
2
Interior Features
Island in Kitchen, Pantry, Walk-In Closet(s), Breakfast Bar
Appliances
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Self Cleaning Oven, Washer
Floor Description
Carpet, Vinyl, Tile
Fireplace
No
Fireplace Description
None
Cooling
Yes
Cooling Description
Central Air, Ceiling Fan(s)
Heating
Yes
Heating Description
Central, Heat Pump, Electric
Exterior/Building Features
Exterior Features
Balcony
Lot Features
Corner Lot
Architectural Style
Other
Sewer
Public Sewer
Security
Smoke Detector
Other Property Details
Area Name
Knox County - 1
Association Fee
$275
Association Fee Frequency
Monthly
Garage
No
Parking
On Street, Designated Parking
View
Yes
View Description
City
County
Knox County - 1
Water Source
Public
Pool
No
Courtesy of Garren Realty, LLC, Michele Garren
Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Kathy May-Martin shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2025 Knoxville Area Association of REALTORS. All rights reserved.
Data last updated 7:19 PM UTC, 2/21/2025