8122 NW Elderberry Drive, Knoxville, TN 37919
- Added:
- Oct 31, 2023
- Days on Market:
- 971
- Last Refresh:
- Jun 27 at 1:06 pm
Property Features for 8122 NW Elderberry Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street
- Exterior features
- Windows - Vinyl
- Standard status
- Active
- APN
- 120OA023
- Size
- 8,584 SF
Taxes and HOA fees
- Tax Annual Amount
- 8759
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 2006
- Number of units
- 8
- Flooring type
- Carpet, Laminate
- Building materials
- Brick, Block
- Roof type
- Asphalt
Listing agent Raj Cheema (865) 466-7240
Listing office Southland Brokers 244 N Peters Road, Knoxville, TN (865) 694-6111
Listing date Oct 31, 2023
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
- 8‑unit multifamily building (built in 2006) with 7 two‑bedroom/2‑bath units and 1 one‑bedroom/1‑bath unit
- Central HVAC with central air, plus electric heating
- Each unit includes stoves, refrigerators, dishwashers, and washer/dryer connections
- Brick and block construction with vinyl windows and an asphalt roof
- Carpet and laminate flooring throughout
- Off‑street parking and located on a large corner lot
Overview
The property is laid out on a large corner lot near Gleason Road and is positioned just off the corridor leading toward Downtown West. Residents have convenient access to West Town Mall and Deane Hill shopping center, as well as nearby dining options and Starbucks. Outdoor recreation is also nearby, including Lakeshore Park, a 200-acre park located just minutes away.
With a mix of 2-bedroom and 1-bedroom layouts, the building can accommodate a range of household needs while keeping the overall unit offering consistent in its appliance package and comfort systems. For buyers seeking a newer apartment community with practical interior amenities, this property’s layout and in-unit features are well suited for day-to-day rental operations.
Local 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 | $151.4k | $17.64 |
| − Vacancy | −$11.4k | −$1.32 |
| EGI | $140.1k | $16.32 |
| − OpEx | −$63.0k | −$7.34 |
| NOI | $77.0k | $8.97 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Knox
- State
- Tennessee
- Longitude
- -84.046602
- Latitude
- 35.917255
