6-Plex Apartment
For Sale
$700,000
Pending
310 Gilbert Lane, Knoxville, TN 37920
MULTI_FAMILY - Knoxville, TN
Property Size4,611 SF
Lot Size0.56 Acres
Days on Market27
Property Features for 310 Gilbert Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Full bathrooms
6
Rooms
Bathroom 6, Bathroom 2, Bedroom 7, Bedroom 6, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 8, Bedroom 2, Bedroom 4, Bedroom 9, Bathroom 4, Bathroom 5, Bedroom 10, Bathroom 3, Bedroom 3
Exterior features
Windows - Vinyl
Appliances
Range, Refrigerator
Elementary school
Dogwood
Middle school
South Doyle
High school
South Doyle
Directions
From I-40, take exit 388Highway 158/James White Parkway S Knoxville. merge to Hwy 71 South, exit Sevier Avenue/Hillwood Avenue, turn left onto Hillwood, left onto Anita Drive, right onto Island Home Avenue, right onto S Haven Road, left on Price Avenue. left onto Gilbert Lane to complex on the right.
Subdivision
Knox County - 1
Standard status
Pending
APN
109EE028
Size
4,611 SF
Lot size
0.56 Acres
Taxes and HOA fees
Tax Annual Amount
3208
Utilities
Heating system
Central, Electric (Heating), Natural Gas
Cooling system
Central Air
Building Details
Year built
1968
Number of units
6
Building materials
Brick, Frame
Roof type
Asphalt
Listing Agency:
Keller Williams Realty
(865) 694-5904
Listed By:
Nancy Keith
(865) 694-5904
Added: Jul 6
Changed: Jul 28
Last Checked: Aug 1 at 3:06AM
MLS# 1347141
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.
Investment Insights
Based on property information with market context.
This fully leased 6-plex apartment building sits on a 0.56-acre lot in a quiet, wooded neighborhood. The property has six units configured as four 2BR/1BA units and two 1BR/1BA units. Four of the six units have been updated with new flooring, kitchen cabinets, lighting, and plumbing fixtures. The building is brick with frame construction, with vinyl, thermal/double-pane windows and an asphalt roof.
The owner provides water/sewer for the tenants using one water meter. Heating is served by central systems with electric (heating) and natural gas options, and cooling is provided by central air. Appliances listed include ranges and refrigerators.
The roof is approximately 5 years old, and the HVAC units are approximately 10 years old. Built in 1968, the property is located within close proximity to UT, Downtown Knoxville, Ijams Nature Park, Baker Creek Preserve, and the commercial development on Sevier Avenue and the riverfront.
The owner provides water/sewer for the tenants using one water meter. Heating is served by central systems with electric (heating) and natural gas options, and cooling is provided by central air. Appliances listed include ranges and refrigerators.
The roof is approximately 5 years old, and the HVAC units are approximately 10 years old. Built in 1968, the property is located within close proximity to UT, Downtown Knoxville, Ijams Nature Park, Baker Creek Preserve, and the commercial development on Sevier Avenue and the riverfront.
Key Highlights
- Fully leased 6‑plex with four 2BR/1BA units and two 1BR/1BA units
- 0.56‑acre wooded setting in a quiet neighborhood
- Four units updated with new flooring, kitchen cabinets, lighting, and plumbing fixtures
Financial Insights For Apartment 5plus
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 | $81.3k | $17.64 |
| − Vacancy | −$6.1k | −$1.32 |
| EGI | $75.2k | $16.32 |
| − OpEx | −$33.9k | −$7.34 |
| NOI | $41.4k | $8.97 |
4,611 SF · lease $17.64/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$591.2K
$517.3K – $689.7K
NOI $41,381 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$999.3K – $1.33M
NOI $79,944 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 37920, TN
41,210
Population
20,180
Households
2
Avg Household Size
37
Median Age
34%
College-Educated
91%
High-School Grad
72.3 sq mi
ZIP Area
570
Density / Sq Mi
$61,348
Median Household Income
$35,591
Median Earnings
$1,092
Median Rent
$231,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased 6-plex on a wooded 0.56-acre lot, with central HVAC and updated 2BR units.
Where is this apartment building located?
The property is located at 310 Gilbert Lane Knoxville, TN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Fully leased 6‑plex with four 2BR/1BA units and two 1BR/1BA units; 0.56‑acre wooded setting in a quiet neighborhood; Four units updated with new flooring, kitchen cabinets, lighting, and plumbing fixtures
