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    The Largest CRE Database in the US with Over 1 Million Listings

    903 Luttrell St Knoxville, TN 37917

    Sponsored
    For Sale
    $795,000

    MULTI_FAMILY - Knoxville, TN

    Property size:
    5,608 SF
    Lot size:
    0.17 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 21 at 2:06 am

    Property Features for 903 Luttrell St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 3, Bathroom 3, Bedroom 7, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 8, Bathroom 2, Bathroom 1, Bedroom 2, Bathroom 4, Bedroom 6
    Bedrooms
    8
    APN
    081MN011
    Parking features
    On Street
    Patio and Porch features
    Porch
    Exterior features
    Balcony
    Appliances
    Range, Refrigerator
    Size
    5,608 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Natural Gas, Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Number of units
    4
    Flooring type
    Hardwood, Tile
    Building materials
    Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Solange Velas
    Solange Velas

    Goldman Partners Realty, LLC (865) 444-3241

    Listing agent Solange Velas (865) 368-2787

    Listing date Feb 20, 2026

    MLS# 1330030

    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.

    Learn more

    Property Insight Report

    Overview

    Charming Historic Fourth & Gill 4-Plex

    This charming 4-plex is located on a corner lot in the historic Fourth & Gill neighborhood. The property, first time on the market since 2006, retains much of its original character, featuring hardwood floors, high ceilings, wood bannisters, and doors. The units are spacious, averaging over 1200 square feet, and offer ample storage. The two upstairs units, accessible via private staircases, include rear access to the backyard from their own covered balconies. All units are equipped with central HVAC, and the interiors have been upgraded over time. The property is situated in an amazing neighborhood with double-wide sidewalks, plenty of parking, and excellent access to bike paths, pocket parks, downtown, and the Old City. The lot size is 0.17 acres. The property size is 5608 square feet. This multifamily property presents a rare opportunity in a desirable location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.921402
    Latitude
    35.979552

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    FAQs

    What type of property is this?
    Quadplex - Spacious 4-unit property with original charm in historic neighborhood.
    Where is this quadplex located?
    The property is located at 903 Luttrell St Knoxville, TN.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: - Spacious Units: Average of 1200 sq ft with plenty of storage.; - Prime Location: Corner lot in the historic Fourth & Gill neighborhood with access to amenities.; - Original Charm: Hardwood floors, high ceilings, wood bannisters and doors.
    (865) 444-3241
    Request Owner's contact information
    903 Luttrell St Knoxville, TN 37917
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    Knoxville, TN 37917
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    903 Luttrell St Knoxville, TN 37917
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    We can help!
    Listing Contact
    Solange Velas
    Solange Velas
    (865) 444-3241 (865) 368-2787 (865) 444-3240
    Learn more
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