Watauga Apartments

Situated in Knoxville’s desirable Fountain City area, 412 Watauga Drive offers a peaceful suburban atmosphere while remaining only minutes from Downtown Knoxville. Residents benefit from quick access to nearby parks, greenways, retail, and local dining, creating an ideal balance of comfort and convenience. With its central location, established neighborhood character, and strong connection to surrounding amenities, the property stands out as a well-positioned option for long-term renters and investors alike.SVN | Wood Properties is proud to present 412 Watauga Drive is a prime 9 unit North Knoxville property in Fountain City, combining a quiet neighborhood with quick access to downtown and major routes. Units are renter-ready, currently earning an average rent of $1,057/unit per-month with a market average rent of $1,245, offering immediate cash flow and upside. The property features an additional unrented 3-bedroom, 2-bathroom unit with a connected garage. Full renovation of this unit represents an opportunity to significantly enhance NOI and cash flow performance. Current ownership has redone all water and sewer lines leaving this property in great condition with very little capex needed. With its location, strong performance, and growth potential, 412 Watauga Drive is a sharp investment for savvy buyers looking to capitalize on Knoxville’s rental market. 412 Watauga Drive is being offered as part of a 95-unit multifamily portfolio that includes 3014 Forestdale Avenue, 1900 Dutch Valley Drive, and 2626 Tecoma Drive. The portfolio is being offered as a package and all four properties must be purchased together, providing an opportunity to acquire a diversified multifamily portfolio in the Knoxville market. The portfolio qualifies for a loan program offering interest rates well below current market rates. Financing terms are subject to property and buyer qualification, underwriting, and lender approval. Contact SVN | Wood Properties for additional lender and financing details.