Two-Property Multifamily
1412-1418 Armstrong Ave Knoxville, TN 37917
1412-1418 Armstrong Ave, Knoxville, TN, 37917
$1,699,950
For Sale
$1,699,950
MULTI_FAMILY - Knoxville, TN
Property Size8,514 SF
Price / SF$199.67
Days on Market54
Property Features for 1412-1418 Armstrong Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 16
- Rooms
- Bedroom 13, Bathroom 3, Bathroom 4, Bedroom 12, Bathroom 9, Bedroom 2, Bedroom 14, Bathroom 5, Bedroom 9, Bedroom 16, Bedroom 8, Bedroom 15, Bedroom 10, Bathroom 12, Bathroom 7, Bedroom 4, Bedroom 1, Bathroom 6, Bathroom 8, Bedroom 11, Bedroom 7, Bedroom 6, Bathroom 2, Bathroom 1, Bathroom 11, Bathroom 10, Bedroom 3, Bedroom 5
- Parking features
- Off Street, On Street
- Patio and Porch features
- Porch
- Appliances
- Dishwasher, Dryer, Microwave, Range, Refrigerator, Self Cleaning Oven, Washer
- Standard status
- Active
- APN
- 081LE027
- Size
- 8,514 SF
Taxes and HOA fees
- Tax Annual Amount
- 15580
Utilities
- Heating system
- Central, Natural Gas, Electric (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1920
- Number of units
- 12
- Flooring type
- Carpet, Laminate, Hardwood
- Building materials
- Fiber Cement, Aluminum Siding, Cement Siding, Block, Frame, Brick
- Roof type
- Shingle
Listing Agency
Pace Probity Asset Management
(865) 357-1537
112 Glenhigh Court Suite 3, Knoxville, TN
Listed by
Christy CJ Pace
(865) 388-7131
Added: May 28 Checked: Jul 20 at 5:06 am
MLS# 1343469
Listing URL
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.
Two multi-unit properties are offered together on one deeded lot in Knoxville’s Old North area: 1412 and 1418 Armstrong Ave. The combined offering features 12 total units across two buildings and is zoned RN4. Buyer to verify all information independently.
1418 Armstrong Ave includes four fully furnished units. Two units feature 3 bedrooms and 1 1/2 baths with full kitchens and shared HVAC systems, while two units offer 1 bedroom and 1 bath 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 adds convenience for residents.
With respect to rental rules described in the remarks, one unit could be used for STR in an owner-occupied purchase; otherwise, all units would require 30-day minimum rentals. The property built before 1978 may have lead based paint.
1418 Armstrong Ave includes four fully furnished units. Two units feature 3 bedrooms and 1 1/2 baths with full kitchens and shared HVAC systems, while two units offer 1 bedroom and 1 bath 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 adds convenience for residents.
With respect to rental rules described in the remarks, one unit could be used for STR in an owner-occupied purchase; otherwise, all units would require 30-day minimum rentals. The property built before 1978 may have lead based paint.
Key Highlights
- 12 total units across two multi‑unit buildings offered together at 1412 & 1418 Armstrong Ave on one deeded lot
- 1412 Armstrong Ave: eight 1‑bedroom, 1‑bath units, each separately metered with individual HVAC systems
- 1418 Armstrong Ave: four furnished units, including two 3‑bedroom 1.5‑bath units and two 1‑bedroom 1‑bath units with private HVAC
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 | $150.2k | $17.64 |
| − Vacancy | −$11.3k | −$1.32 |
| EGI | $138.9k | $16.32 |
| − OpEx | −$62.5k | −$7.34 |
| NOI | $76.4k | $8.97 |
8,514 SF · lease $17.64/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$955.1K – $1.27M
NOI $76,408 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,612 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
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FAQs
What type of property is this?
Apartment building - Two multifamily buildings with 12 total units on one deeded lot, including furnished units and an on-site laundry facility.
Where is this apartment building located?
The property is located at 1412-1418 Armstrong Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $1,699,950.
What are key features of this property?
This property features: 12 total units across two multi‑unit buildings offered together at 1412 & 1418 Armstrong Ave on one deeded lot; 1412 Armstrong Ave: eight 1‑bedroom, 1‑bath units, each separately metered with individual HVAC systems; 1418 Armstrong Ave: four furnished units, including two 3‑bedroom 1.5‑bath units and two 1‑bedroom 1‑bath units with private HVAC
