Gated-Yard
For Sale
$450,000
Pending
146 Lancaster Rd, Oak Ridge, TN 37830
Multi-Family, Oak Ridge, TN
Property Size2,712 SF
Lot Size0.47 Acres
Days on Market49
Property Features for 146 Lancaster Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 7, Bathroom 4, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 8, Bathroom 2, Bedroom 6
Parking features
On Street
Patio and Porch features
Patio
Appliances
Dishwasher, Range, Refrigerator
Directions
Take I-40 W and take Exit 376 toward Oak Ridge. Merge onto Pellissippi Pkwy. After 4.6 miles, veer right onto TN-62 W and continue for 6.3 miles. Turn left onto Oak Ridge Turnpike and follow for 1.3 miles. Turn right onto Louisiana Ave. After 0.2 miles, turn right onto Lancaster Rd. The 4-plex will be on your left. No sign on property. Please don't disturb residents.
Subdivision
Anderson County - 30
Standard status
Pending
APN
099P E 04300 000
Size
2,712 SF
Lot size
0.47 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
2474
Utilities
Heating system
Electric (Heating), Central, Natural Gas
Cooling system
Central Air
Amenities
washer/dryer hookups
rear porch
gated yard
Building Details
Year built
1943
Number of units
4
Flooring type
Laminate, Tile, Vinyl
Building materials
Vinyl Siding, Frame
Roof type
Composition
Listing Agency:
Goldman Partners Realty, LLC
(865) 444-3240
Listed By:
Solange Velas · License #263596
(865) 444-3241
Added: Sep 16
Changed: Oct 27
Last Checked: Nov 3 at 8:06AM
MLS# 1355827
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.
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 2,712 square feet on a 0.47-acre lot. Each apartment has two bedrooms and one bathroom, along with washer and dryer hookups and a rear porch. The gated yard serves the property. Three apartments are occupied: two have month-to-month arrangements and one is under lease. One apartment was updated in June 2024 with new cabinets, LVP flooring, and bathroom fixtures; another is vacant and requires renovation. The roof was replaced in June 2020.
The property is in Oak Ridge, about 7 minutes from Walmart, Chick-fil-A, and other everyday services. Oak Ridge National Laboratory and Y-12 are approximately 15 minutes away.
The property is in Oak Ridge, about 7 minutes from Walmart, Chick-fil-A, and other everyday services. Oak Ridge National Laboratory and Y-12 are approximately 15 minutes away.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 2,712 square feet on a 0.47‑acre lot
- Residents pay all utilities; washer and dryer hookups in each unit
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
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
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
Frequently Asked Questions
What type of property is this?
Quadplex - Residents pay their own utility costs, and each apartment has washer and dryer connections.
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 on a 0.47‑acre lot; Residents pay all utilities; washer and dryer hookups in each unit
