KNOXVILLE, TN – MZ Capital Partners has announced that it will expand its property size in Knoxville, Tennessee with the purchase of Residences in Devanshire, an 87-unit single-family residential rental community.
Knoxville is one of the best rental real estate investment markets in the nation. Knoxville market share has ranged from 95% to 98% over the past five years. Last year’s occupancy rate exceeded 97%. Knoxville’s market share ranked first among 66 major markets in the Southern region and ninth among the top 150 markets nationwide.
Located in the West Knoxville submarket, this 87-unit home built in 2006 features 3 bedrooms, 2 full bathrooms with back porch or patio, attached garage parking, and private apartment with mountain views. Comes with a backyard.
The acquisition provides a unique opportunity to increase cash flow and increase value through more efficient organizational quality control and value-added refurbishment and redeployment programs.
Headquartered in Northbrook, Illinois, MZ Capital Partners is a demographic real estate investment firm specializing in multifamily properties across the United States.
sauce: MZ Capital Partners