Fully Leased Four-Plex
2816 NE Colt Drive Knoxville, TN 37918
2816 NE Colt Drive, Knoxville, TN, 37918
$595,000
Pending
For Sale
$595,000
Pending
MULTI_FAMILY - Knoxville, TN
Property Size4,773 SF
Lot Size0.37 Acres
Days on Market47
Property Features for 2816 NE Colt Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Rooms
- Bedroom 1, Bedroom 8, Bedroom 5, Bedroom 7, Dining Room, Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 3
- Parking features
- Off Street
- Window features
- Aluminum Frames
- Patio and Porch features
- Porch
- Interior features
- Pantry
- Appliances
- Dishwasher, Range, Refrigerator
- 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, Heat Pump (Heating), Electric (Heating)
- Cooling system
- Window Unit(s), Ceiling Fan(s)
Building Details
- Year built
- 1974
- Number of units
- 4
- Flooring type
- Carpet, Vinyl
- Building materials
- Brick
- Roof type
- Metal
Listing Agency
Realty Executives Associates
(865) 693-3232
10255 Kingston Pike, knoxville, TN
Listed by
Brooke Miracle
(865) 696-8089
Added: Jun 4 Checked: Jul 20 at 5:06 am
MLS# 1343372
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.
This four-plex at 2816 NE Colt Drive is currently 100% occupied, with all four units leased on month-to-month agreements. The property consists of four spacious 2-bedroom, 1.5-bath units. Each unit includes washer and dryer hookups, along with its own private utility/laundry room located at the rear of the building, which adds practical convenience and dedicated storage for tenants. Tenants pay their own utilities, while the owner maintains the grounds, supporting an operationally straightforward management structure.
The building is set on a quiet dead-end street and provides ample on-site parking. It is located in the Halls community just off North Broadway, placing residents within minutes of everyday amenities such as major restaurants, grocery stores, parks, ball fields, and schools. Downtown Knoxville is approximately 12 minutes away, offering accessible commuting while keeping a residential feel.
For buyers looking for a turn-key multifamily asset, the existing occupancy and month-to-month lease structure can be appealing from an operational standpoint. The unit layout is designed around everyday usability with in-unit washer/dryer hookups and private rear utility/laundry space, and tenant-paid utilities can help simplify ongoing operating costs. With the owner handling grounds maintenance, the property is structured for steady, manageable day-to-day operation.
The building is set on a quiet dead-end street and provides ample on-site parking. It is located in the Halls community just off North Broadway, placing residents within minutes of everyday amenities such as major restaurants, grocery stores, parks, ball fields, and schools. Downtown Knoxville is approximately 12 minutes away, offering accessible commuting while keeping a residential feel.
For buyers looking for a turn-key multifamily asset, the existing occupancy and month-to-month lease structure can be appealing from an operational standpoint. The unit layout is designed around everyday usability with in-unit washer/dryer hookups and private rear utility/laundry space, and tenant-paid utilities can help simplify ongoing operating costs. With the owner handling grounds maintenance, the property is structured for steady, manageable day-to-day operation.
Key Highlights
- 4‑plex at 2816 Colt Drive is 100% occupied with all four units leased on month‑to‑month agreements
- Four 2‑bedroom, 1.5‑bath units; each has washer and dryer hookups and a private utility/laundry room at the rear of the building
- Tenants pay their own utilities; owner maintains the grounds
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 | $71.6k | $15.00 |
| − Vacancy | −$5.1k | −$1.07 |
| EGI | $66.5k | $13.93 |
| − OpEx | −$19.9k | −$4.18 |
| NOI | $46.5k | $9.75 |
4,773 SF · lease $15.00/SF/yr · vacancy 7.12% · expense 30.00%
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 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 units with private laundry hookups and month-to-month leases, tenant-paid utilities, and on-site 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: 4‑plex at 2816 Colt Drive is 100% occupied with all four units leased on month‑to‑month agreements; Four 2‑bedroom, 1.5‑bath units; each has washer and dryer hookups and a private utility/laundry room at the rear of the building; Tenants pay their own utilities; owner maintains the grounds
