Fully Occupied 4-Plex
2816 NE Colt Drive, Knoxville, TN 37918
New
MULTI_FAMILY - Knoxville, TN
Property size:
4,773 SFLot size:
0.37 AcresPrice / SF:
$124/SF- Added:
- Jun 4, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 4 at 3:06 pm
Property Features for 2816 NE Colt Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 1, Dining Room, Bedroom 7, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bedroom 8, Bathroom 3, Bedroom 6
- Parking features
- Off Street
- Window features
- Aluminum Frames
- Patio and Porch features
- Porch
- Interior features
- Pantry
- Appliances
- Dishwasher, Range, Refrigerator
- Standard status
- Active
- APN
- 048KC001
- Size
- 4,773 SF
- Lot size
- 0.37 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2145
Utilities
- Heating system
- Electric (Heating), Heat Pump (Heating), Central
- Cooling system
- Window Unit(s), Ceiling Fan(s)
Building Details
- Year built
- 1974
- Number of units
- 4
- Flooring type
- Vinyl, Carpet
- Building materials
- Brick
- Roof type
- Metal
Listing agent Brooke Miracle (865) 696-8089
Listing office Realty Executives Associates 10255 Kingston Pike, knoxville, TN (865) 693-3232
Listing date Jun 4, 2026
MLS# 1343372
Listing URL
Copyright © 2026 East Tennessee Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully occupied 4‑plex with all four units leased on month‑to‑month agreements
- Four 2‑bedroom, 1.5‑bath units in a brick building built in 1974
- Each unit has washer/dryer hookups and a private utility/laundry room at the rear of the building
- Tenants pay their own utilities; owner maintains the grounds
- Off‑street parking and a porch; roof is metal
- Heating and cooling include central systems, heat pump, and window unit(s) with ceiling fans; interior includes pantry
Overview
This fully occupied 4-plex offers four spacious 2-bedroom, 1.5-bath units configured for comfortable everyday living. Each unit includes washer and dryer hookups, plus a private utility/laundry room located at the rear of the building, providing additional convenience and storage. All four units are leased under month-to-month agreements, giving the owner flexibility in managing tenancy going forward. Tenants are responsible for their own utilities, while the owner maintains the grounds, supporting a straightforward operating structure.
The property is located on a quiet dead-end street in the Halls market, positioned just off North Broadway in Knoxville. Residents have access to ample on-site parking and a more private setting while remaining close to everyday amenities. The surrounding area is described as convenient to major restaurants, grocery stores, parks, ball fields, schools, and other local services, with downtown Knoxville noted as approximately 12 minutes away.
For investors or portfolio buyers, this is a turn-key multifamily asset with immediate occupancy and an established unit mix of 2-bedroom, 1.5-bath layouts. Month-to-month leasing can appeal to operators seeking manageable turnover options, while the tenant-paid utilities and owner-maintained grounds help keep the day-to-day responsibilities clearly defined.
The property is located on a quiet dead-end street in the Halls market, positioned just off North Broadway in Knoxville. Residents have access to ample on-site parking and a more private setting while remaining close to everyday amenities. The surrounding area is described as convenient to major restaurants, grocery stores, parks, ball fields, schools, and other local services, with downtown Knoxville noted as approximately 12 minutes away.
For investors or portfolio buyers, this is a turn-key multifamily asset with immediate occupancy and an established unit mix of 2-bedroom, 1.5-bath layouts. Month-to-month leasing can appeal to operators seeking manageable turnover options, while the tenant-paid utilities and owner-maintained grounds help keep the day-to-day responsibilities clearly defined.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.6k | $15.00 |
| − Vacancy | −$5.1k | −$1.07 |
| EGI | $66.5k | $13.93 |
| − OpEx | −$19.9k | −$4.18 |
| NOI | $46.5k | $9.75 |
4,773 SF · lease $15.00/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$665.0K
$581.9K – $775.8K
NOI $46,548 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$611.9K
$535.4K – $713.9K
NOI $42,835 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,752 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Knox
- State
- Tennessee
- Longitude
- -83.937759
- Latitude
- 36.052854
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - A fully leased four-unit property with in-unit laundry hookups and separate utility/laundry rooms at the rear.
Where is this quadplex located?
The property is located at 2816 NE Colt Drive Knoxville, TN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Fully occupied 4‑plex with all four units leased on month‑to‑month agreements; Four 2‑bedroom, 1.5‑bath units in a brick building built in 1974; Each unit has washer/dryer hookups and a private utility/laundry room at the rear of the building
