4-Unit Quadplex with Gated
For Sale
$450,000
146 Lancaster Rd, Oak Ridge, TN 37830
Each apartment has two bedrooms, one bathroom, and washer/dryer hookups.
Property Size2,712 SF
Price / SF$165.93
Days on Market49
Property Features for 146 Lancaster Rd
General Information
Standard status
Active
Size
2,712 SF
Property subtype
Multi Family Home
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Furnished
No
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,474
Amenities
washer/dryer hookups
rear porch
gated yard
Building Details
Building Size
2,712 SF
Year Built
1943
Units
4
Listing Agency:
Goldman Partners Realty, LLC
(865) 444-3240
Listed By:
Solange Velas · License #263596
(865) 444-3241
Source:
Carterchaserealty
Added: Sep 16
Changed: Oct 31
Last Checked: Oct 31 at 2:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Goldman Partners Realty, LLC
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Investment Insights
Based on property information with market context.
This 2,712-square-foot quadplex, built in 1943, contains four two-bedroom, one-bath apartments. Each unit has washer/dryer hookups and a rear porch, with access to a gated yard. Three apartments are occupied: two on month-to-month arrangements and one under lease. The remaining unit is vacant. Unit 146 received new cabinets, LVP flooring, and bathroom fixture updates in June 2024; the roof was replaced in June 2020.
Walmart, Chick-fil-A, and other everyday amenities are approximately 7 minutes away. Oak Ridge National Laboratory and Y-12 are about 15 minutes away.
Walmart, Chick-fil-A, and other everyday amenities are approximately 7 minutes away. Oak Ridge National Laboratory and Y-12 are about 15 minutes away.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 2,712 square feet; built in 1943
- Three units occupied: two month‑to‑month and one leased; one unit vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,449
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,980
$529.0K
Cap Rate 7%
$377,843
$377.8K
Cap Rate 9%
$293,878
$293.9K
Market Conditions
NOI Build-Up for 2,712 SF
Gross rent
$40.7K $15.00/SF
− Vacancy
−$2.9K −$1.07/SF
EGI
$37.8K $13.93/SF
− OpEx
−$11.3K −$4.18/SF
NOI
$26.4K $9.75/SF
Area
Anderson County, 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%
$528,980
Cap Rate 7%
$377,843
Cap Rate 9%
$293,878
Alternative Uses
Best Use
Multifamily LT 5
$377.8K
$330.6K – $440.8K
NOI $26,449 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$347.7K
$304.2K – $405.6K
NOI $24,338 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$671.7K
$587.8K – $783.7K
NOI $47,020 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
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Business Placement
Demographics for 37830, TN
31,839
Population
15,110
Households
2.1
Avg Household Size
42
Median Age
39%
College-Educated
91%
High-School Grad
84.8 sq mi
ZIP Area
375
Density / Sq Mi
$70,795
Median Household Income
$41,293
Median Earnings
$1,076
Median Rent
$234,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment has two bedrooms, one bathroom, and washer/dryer hookups.
Where is this quadplex located?
The property is located at 146 Lancaster Rd Oak Ridge, TN.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 2,712 square feet; built in 1943; Three units occupied: two month‑to‑month and one leased; one unit vacant
