Four-Unit Residential Income
138-144 Latimer Rd Oak Ridge, TN 37830
New
138-144 Latimer Rd, Oak Ridge, TN, 37830
$425,000
For Sale
$425,000
MULTI_FAMILY - Oak Ridge, TN
Property Size2,825 SF
Lot Size0.66 Acres
Price / SF$150.44
Days on Market2
Property Features for 138-144 Latimer Rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Rooms
- Bedroom 7, Bedroom 1, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 8, Bathroom 1
- Appliances
- Range, Refrigerator
- Standard status
- Active
- APN
- 099P D 034.00
- Size
- 2,825 SF
- Lot size
- 0.66 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4702
Utilities
- Heating system
- Electric (Heating), Natural Gas, Central
- Cooling system
- Central Air
Building Details
- Year built
- 1942
- Number of units
- 4
- Flooring type
- Hardwood, Laminate
- Building materials
- Vinyl Siding, Frame
- Roof type
- Asphalt
Listing agency
eXp Realty, LLC
(888) 519-5113
Listed by
Jonathan Figueroa
(865) 304-2455
Added: Jul 21 Checked: Jul 22 at 5:06AM
MLS# 1349029
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 four-unit residential income property consists of four 2-bedroom, 1-bath apartment units built in 1942. The units are each described as having an efficient layout and are equipped with laminate flooring, central heat and air, vinyl siding, and an asphalt shingle roof. Each unit includes a range and refrigerator. Tenant-paid utilities are noted, and the property provides on-site parking for tenants.
The property sits on a lot of approximately 0.66 acres and is located in Oak Ridge, Tennessee. The public remarks indicate the building is conveniently located near shopping, dining, schools, and Oak Ridge employers.
Overall, the asset offers a straightforward four-unit configuration with in-unit appliances and centralized heating and cooling, supported by tenant parking and tenant responsibility for utilities.
The property sits on a lot of approximately 0.66 acres and is located in Oak Ridge, Tennessee. The public remarks indicate the building is conveniently located near shopping, dining, schools, and Oak Ridge employers.
Overall, the asset offers a straightforward four-unit configuration with in-unit appliances and centralized heating and cooling, supported by tenant parking and tenant responsibility for utilities.
Key Highlights
- Four‑unit apartment building with four 2‑bedroom, 1‑bath units totaling approx. 2,825 SF
- Built in 1942; approx. 704–706 SF per unit with an efficient layout
- Nearly 0.66‑acre lot (28,749 SF) with on‑site tenant parking
Local Financial Insights For Multifamily LT 5
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 | $42.4k | $15.00 |
| − Vacancy | −$3.0k | −$1.07 |
| EGI | $39.4k | $13.93 |
| − OpEx | −$11.8k | −$4.18 |
| NOI | $27.6k | $9.75 |
2,825 SF · lease $15.00/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$393.6K
$344.4K – $459.2K
NOI $27,551 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$362.2K
$316.9K – $422.6K
NOI $25,353 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$699.7K
$612.2K – $816.3K
NOI $48,979 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four 2-bedroom, 1-bath units in a 1942 quadplex with tenant-paid utilities and on-site parking.
Where is this quadplex located?
The property is located at 138-144 Latimer Rd Oak Ridge, TN.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit apartment building with four 2‑bedroom, 1‑bath units totaling approx. 2,825 SF; Built in 1942; approx. 704–706 SF per unit with an efficient layout; Nearly 0.66‑acre lot (28,749 SF) with on‑site tenant parking
