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    Knoxville, TN 37917

    For Sale
    $1,849,950

    MULTI_FAMILY - Knoxville, TN

    Property size:
    8,514 SF
    Days on Market:
    21
    Last Refresh:
    Dec 15 at 5:06 am

    Property Features for

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 5, Bedroom 6, Bedroom 12, Bathroom 11, Bedroom 1, Bathroom 9, Bedroom 4, Bedroom 15, Bedroom 8, Bathroom 4, Bathroom 1, Bedroom 10, Bathroom 7, Bathroom 8, Bedroom 16, Bathroom 10, Bathroom 3, Bedroom 3, Bathroom 6, Bathroom 5, Bathroom 2, Bathroom 12, Bedroom 2, Bedroom 13, Bedroom 7, Bedroom 11, Bedroom 14, Bedroom 9
    Bedrooms
    16
    APN
    081LE027
    Parking features
    Off Street, On Street
    Patio and Porch features
    Porch
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Self Cleaning Oven, Washer
    Size
    8,514 SF

    Utilities

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

    Building Details

    Year built
    1920
    Number of units
    12
    Flooring type
    Hardwood, Laminate, Carpet
    Building materials
    Fiber Cement, Aluminum Siding, Cement Siding, Block, Frame, Brick
    Roof type
    Shingle

    Pace Probity Asset Management a dba of Pace Probity LLC (865) 388-7131 [email protected]

    Listing agent Christy CJ Pace (865) 388-7131

    Listing date Nov 25, 2025

    MLS# 1319055 Listing URL

    Copyright © 2025 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.

    Overview

    Knoxville Multifamily Investment Opportunity

    Located in Knoxville's Old North area, this investment opportunity includes two multi-unit properties at 1412 & 1418 Armstrong Ave, offered together on one deeded lot. The properties feature a total of 12 units across two buildings, presenting both long-term income and short-term rental potential. 1418 Armstrong Ave includes four fully furnished units suitable for short-term rentals. Two of these units feature 3 bedrooms and 1 1/2 baths with full kitchens and shared HVAC. The other two are 1-bedroom, 1-bath units with private HVAC systems. 1412 Armstrong Ave consists of eight 1-bedroom, 1-bath units, each separately metered and equipped with individual HVAC systems. An on-site laundry facility is available for residents. The property is positioned on a quiet dead-end street minutes from downtown Knoxville, the University of Tennessee, and major attractions. The property offers possibilities for multiple income streams and could be managed as long-term housing, short-term rentals, or a hybrid model. The property size is 8514 square feet. The property was built before 1978 and may have lead-based paint.
    Property Profile Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Map

    City
    Knoxville
    County
    Knox
    State
    Tennessee
    Longitude
    -83.921421
    Latitude
    35.989455

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    FAQs

    What type of property is this?
    Apartment building - Two multi-unit properties with long-term and short-term rental potential.
    Where is this apartment building located?
    The property is located at Knoxville, TN.
    What is the asking price?
    The asking price for this property is $1,849,950.
    What are key features of this property?
    This property features: - Two multi-unit properties (12 total units) on one deeded lot in Knoxville's desirable Old North area.; - Versatile investment with potential for both long-term and high-return short-term rentals (Airbnb).; - **Four fully furnished units ready for immediate short-term rental operation.**
    (865) 388-7131
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    Knoxville, TN 37917
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    Realmo Value Estimation

    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.

    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.

    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
    Knoxville, TN 37917
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