Brick Quadplex with Private Laundry
For Sale
$595,000
Pending
2816 NE Colt Drive, Knoxville, TN 37918
Multi-Family, Knoxville, TN
Property Size4,773 SF
Lot Size0.37 Acres
Days on Market139
Property Features for 2816 NE Colt Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 7, Bedroom 6, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 8, Bedroom 3, Bedroom 5, Bathroom 3, Dining Room, Bedroom 1
Parking features
Off Street
Window features
Aluminum Frames
Patio and Porch features
Porch
Interior features
Pantry
Appliances
Dishwasher, Range, Refrigerator
Subdivision
Rifle Range Estates Sub Unit 1
Elementary school
Adrian Burnett
Middle school
Halls
High school
Halls
Directions
From I-75 N, take the exit onto Merchants Dr. Turn right onto Merchants Dr. Turn right onto Dry Gap Pike. Take a slight right onto Rifle Range Dr. Turn left onto Luger Rd. Turn left onto Colt Dr NE. Property on left.
Standard status
Pending
APN
048KC001
Size
4,773 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Annual Amount
2145
Utilities
Heating system
Central, Electric (Heating), Heat Pump (Heating)
Cooling system
Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1974
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Brick
Roof type
Metal
Listing Agency:
Realty Executives Associates · Realty Executives International
(865) 693-3232
Listed By:
Brooke Miracle
(865) 696-8089
Added: Jun 4
Changed: Oct 16
Last Checked: Oct 20 at 4:06PM
MLS# 1343372
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 4,773-square-foot brick quadplex, built in 1974, contains four two-bedroom, one-and-a-half-bath residences. Each unit has washer and dryer hookups plus a private rear utility and laundry room. Interior features include carpet and vinyl flooring, pantry storage, dishwashers, ranges, and refrigerators. Heating is provided by central electric heat pumps, while cooling includes ceiling fans and window units. A metal roof, porch, and off-street parking serve the property, which occupies 0.37 acres.
All four units are occupied under month-to-month agreements. Residents pay their own utilities, while grounds maintenance remains with ownership. The property is located at 2816 NE Colt Drive in Knoxville’s Halls community, near North Broadway and approximately 12 minutes from downtown Knoxville. Restaurants, grocery stores, parks, ball fields, and schools are identified in the surrounding area.
All four units are occupied under month-to-month agreements. Residents pay their own utilities, while grounds maintenance remains with ownership. The property is located at 2816 NE Colt Drive in Knoxville’s Halls community, near North Broadway and approximately 12 minutes from downtown Knoxville. Restaurants, grocery stores, parks, ball fields, and schools are identified in the surrounding area.
Key Highlights
- Four 2‑bedroom, 1.5‑bath units within a 4,773‑square‑foot quadplex
- 100% occupied with all units leased on month‑to‑month agreements
- Private rear utility and laundry rooms with washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,548
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,960
$931.0K
Cap Rate 7%
$664,971
$665.0K
Cap Rate 9%
$517,200
$517.2K
Market Conditions
NOI Build-Up for 4,773 SF
Gross rent
$71.6K $15.00/SF
− Vacancy
−$5.1K −$1.07/SF
EGI
$66.5K $13.93/SF
− OpEx
−$19.9K −$4.18/SF
NOI
$46.5K $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%
$930,960
Cap Rate 7%
$664,971
Cap Rate 9%
$517,200
Alternative Uses
Best Use
Multifamily LT 5
$665.0K
$581.9K – $775.8K
NOI $46,548 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$611.9K
$535.4K – $713.9K
NOI $42,835 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,752 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 37918, TN
46,245
Population
20,228
Households
2.3
Avg Household Size
40
Median Age
31%
College-Educated
93%
High-School Grad
34.6 sq mi
ZIP Area
1,337
Density / Sq Mi
$69,311
Median Household Income
$41,882
Median Earnings
$1,102
Median Rent
$237,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit property with flexible month-to-month leases, individual utility areas, and off-street parking.
Where is this quadplex located?
The property is located at 2816 NE Colt Drive Knoxville, TN.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1.5‑bath units within a 4,773‑square‑foot quadplex; 100% occupied with all units leased on month‑to‑month agreements; Private rear utility and laundry rooms with washer and dryer hookups
