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

 

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