2201 Lake Ave #204 new Save Request In-Person Tour Request Virtual Tour
Knoxville,TN 37916
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 1,080 sqft
Price per Sqft $462
MLS Listing ID 1290758
Style Other
Bedrooms 3
Full Baths 2
HOA Fees $275/mo
Originating Board East Tennessee REALTORS® MLS
Year Built 1995
Property Sub-Type Condominium
Property Description
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.
Location
State TN
County Knox County - 1
Rooms
Other Rooms LaundryUtility, Split Bedroom
Basement Slab
Dining Room Breakfast Bar
Interior
Interior Features Island in Kitchen,Pantry,Walk-In Closet(s),Breakfast Bar
Heating Central,Heat Pump,Electric
Cooling Central Air,Ceiling Fan(s)
Flooring Carpet,Vinyl,Tile
Fireplaces Type None
Appliance Dishwasher,Disposal,Dryer,Microwave,Range,Refrigerator,Self Cleaning Oven,Washer
Heat Source Central,Heat Pump,Electric
Laundry true
Exterior
Exterior Feature Balcony
Parking Features On Street,Designated Parking
Garage Description On-Street Parking, Designated Parking
Community Features Sidewalks
View City
Garage No
Building
Lot Description Corner Lot
Faces On Cumberland Avenue going East toward downtown take a right on 22nd Street. Complex on the corner of 22nd Street and Lake Avenue (behind Caseys and Sunspot).
Sewer Public Sewer
Water Public
Architectural Style Other
Structure Type Stucco,Brick
Others
HOA Fee Include Fire Protection,Building Exterior,Association Ins,Trash,Sewer,Grounds Maintenance,Pest Control,Water
Restrictions Yes
Tax ID 108CK01900M
Security Features Smoke Detector
Energy Description Electric
Acceptable Financing Alternative,New Loan,Cash,Conventional
Listing Terms Alternative,New Loan,Cash,Conventional