Apartments Sold

Last week, the 34 unit apartments that I have reported on several times was sold for $7,340,000. The owner, Rentals Investors Group of East Tennessee LLC, sold the 34 unit apartment complex to Emerson Park Holdings LLC. The apartments rent for $1,750.00 per month. The apartments had been for sale for several months at an asking price of $8,125,000.00.

These are the apartments on Pine Top Street just behind Hardees on a street barely wide enough for two vehicles to pass, all approved by the Lenoir City council supported by mayor Tony Aikens. More apartments have already been approved for the adjoining properties.

The land where the apartments are was originally owned by the LCUB general manager, Shannon Littleton, then sold and passed on to other owners.

Below are previous stories on the apartments.

Apartments For Sale
7/22/24

It appears, whoever the owner of these apartments is looking to make a sale.

The apartment complex above is Emerson Park. These are the apartments on Pine Top Street and Hickman Street. This was one of those complexes the city approved in an area that should never have been approved. The property was originally owned by LCUB manager, Shannon Littleton, who sold the two parcels for $525,000.00 to Rentals Investors Group of East Tennessee LLC on 3/22/22. Rentals Investors Group of East Tennessee LLC is still the owner of the apartment complex. The apartments rent for $1,750.00 per month.

Click Here To View Listing

Below Are More Previous Stories On The Apartments.

Total Disaster 9
Total Disaster 9.1
Total Disaster 9.2

BACK
1/6/25