Six-Unit Apartment
For Sale
$779,900
2818 Dayton Street Northwest, Knoxville, TN 37921
Fully leased residential property with one-bedroom layouts, recent roofing, and convenient access to Knoxville employment and amenities.
Property Size3,550 SF
Price / SF$219.69
Days on Market477
Property Features for 2818 Dayton Street Northwest
General Information
Standard status
Active
Size
3,550 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,510
Amenities
Window Unit(s)
Yes
Laminate, Vinyl
True
Space Heater, Electric
Brick, Block
Building Details
Year Built
1969
Buildings
1
Listing Agency:
Southland Brokers
Listed By:
Raj Cheema
(865) 466-7240
Source:
Compass
Added: Jun 27, 2025
Changed: Oct 12
Last Checked: Oct 15 at 1:09AM
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 Southland Brokers
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Investment Insights
Based on property information with market context.
This 3,550-square-foot apartment property contains six one-bedroom, one-bathroom units, all of which are currently leased. Built in 1969, the building has brick and block exterior construction, laminate and vinyl flooring, window units, and electric space heaters. A new roof was installed in 2021, and the main water line was replaced in 2024.
The property is located on Dayton Street Northwest in Knoxville, near Western Ave. Its setting provides access to Downtown Knoxville, I-640, restaurants, shopping, and area employers. The fully occupied configuration and consistent one-bedroom unit mix create a straightforward multifamily offering for an owner seeking an established rental property.
The property is located on Dayton Street Northwest in Knoxville, near Western Ave. Its setting provides access to Downtown Knoxville, I-640, restaurants, shopping, and area employers. The fully occupied configuration and consistent one-bedroom unit mix create a straightforward multifamily offering for an owner seeking an established rental property.
Key Highlights
- Six units, each with 1 bedroom and 1 bathroom
- 3,550 SF apartment property built in 1969
- All six units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,859
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,180
$637.2K
Cap Rate 7%
$455,129
$455.1K
Cap Rate 9%
$353,989
$354.0K
Market Conditions
NOI Build-Up for 3,550 SF
Gross rent
$62.6K $17.64/SF
− Vacancy
−$4.7K −$1.32/SF
EGI
$57.9K $16.32/SF
− OpEx
−$26.1K −$7.34/SF
NOI
$31.9K $8.97/SF
Area
Knoxville, TN
Vacancy
7.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$637,180
Cap Rate 7%
$455,129
Cap Rate 9%
$353,989
Alternative Uses
Best Use
Apartment 5plus
$455.1K
$398.2K – $531.0K
NOI $31,859 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$879.3K
$769.4K – $1.03M
NOI $61,548 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 37921, TN
28,903
Population
12,969
Households
2.2
Avg Household Size
35
Median Age
27%
College-Educated
87%
High-School Grad
15.9 sq mi
ZIP Area
1,818
Density / Sq Mi
$57,813
Median Household Income
$37,518
Median Earnings
$1,147
Median Rent
$204,300
Median Home Value
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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?
Apartment building - Fully leased residential property with one-bedroom layouts, recent roofing, and convenient access to Knoxville employment and amenities.
Where is this apartment building located?
The property is located at 2818 Dayton Street Northwest Knoxville, TN.
What is the asking price?
The asking price for this property is $779,900.
What are key features of this property?
This property features: Six units, each with 1 bedroom and 1 bathroom; 3,550 SF apartment property built in 1969; All six units are currently leased
