3-Unit Triplex with Expansion
New
For Sale
$259,999
123 E Springdale Ave, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size1,956 SF
Lot Size0.17 Acres
Price / SF$132.92
Days on Market3
Property Features for 123 E Springdale Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, On Street
Window features
Aluminum Frames
Patio and Porch features
Porch
Appliances
Range, Refrigerator
Subdivision
Oakwood C B Atkins Add
Elementary school
Christenberry
Middle school
Whittle Springs
High school
Fulton
Directions
Keep left at Interstate Highway 40 E/I-40 E toward Knoxville Keep right Take exit 1B on the right onto W Woodland Ave NW toward Oldham Ave Turn right onto W Woodland Ave Turn left onto N Central St Turn right onto E Springdale Ave. 2nd house on left. You have arrived at 123 E Springdale Ave. Your destination is on the left, Sign in yard
Standard status
Active
APN
081FS024
Size
1,956 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2297
Utilities
Heating system
Natural Gas, Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1915
Number of units
3
Flooring type
Vinyl
Building materials
Vinyl Siding, Block, Frame
Roof type
Shingle
Listing Agency:
The Real Estate Firm, Inc.
(865) 770-4030
Listed By:
Fredda Augusta Temples
(865) 659-4024
Added: Oct 10
Changed: Oct 11
Last Checked: Oct 12 at 2:06PM
MLS# 1358523
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 1,956-square-foot triplex contains three apartments and additional unfinished space on the upper level. The apartments need repairs, cleaning, and modernization. A fourth unit may be possible in the unfinished area, subject to zoning, permitting, inspections, and governmental approvals. Each apartment has a separate electric meter, and the property includes a newer roof and water lines installed to the street by the seller.
The property occupies a 0.17-acre lot and was built in 1915. Off-street parking and rear street access are among its site features. The property is commercially zoned; no specific zoning designation is provided.
The property occupies a 0.17-acre lot and was built in 1915. Off-street parking and rear street access are among its site features. The property is commercially zoned; no specific zoning designation is provided.
Key Highlights
- Three apartments in a 1,956‑square‑foot building
- 0.17‑acre lot
- Unfinished upper‑level area may allow a fourth unit, subject to zoning, permits, inspections, and governmental approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,076
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,520
$381.5K
Cap Rate 7%
$272,514
$272.5K
Cap Rate 9%
$211,956
$212.0K
Market Conditions
NOI Build-Up for 1,956 SF
Gross rent
$29.3K $15.00/SF
− Vacancy
−$2.1K −$1.07/SF
EGI
$27.3K $13.93/SF
− OpEx
−$8.2K −$4.18/SF
NOI
$19.1K $9.75/SF
Area
Knoxville, TN
Vacancy
7.12%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,520
Cap Rate 7%
$272,514
Cap Rate 9%
$211,956
Alternative Uses
Best Use
Multifamily LT 5
$272.5K
$238.5K – $317.9K
NOI $19,076 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$250.8K
$219.4K – $292.6K
NOI $17,554 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$484.5K
$423.9K – $565.2K
NOI $33,912 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
Explore this area
Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments are complemented by unfinished upper-level space that may accommodate another unit, subject to approvals.
Where is this triplex located?
The property is located at 123 E Springdale Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $259,999.
What are key features of this property?
This property features: Three apartments in a 1,956‑square‑foot building; 0.17‑acre lot; Unfinished upper‑level area may allow a fourth unit, subject to zoning, permits, inspections, and governmental approvals
