Fully Leased 4-Plex Income
2828 NE Colt Drive Knoxville, TN 37918
2828 NE Colt Drive, Knoxville, TN, 37918
$595,000
Pending
For Sale
$595,000
Pending
MULTI_FAMILY - Knoxville, TN
Property Size4,727 SF
Lot Size0.38 Acres
Days on Market47
Property Features for 2828 NE Colt Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Rooms
- Bedroom 1, Bedroom 8, Bedroom 5, Bedroom 7, Dining Room, Bathroom 3, Bathroom 1, Bathroom 5, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 9, Bedroom 2, Bathroom 2, Bedroom 3
- Parking features
- Off Street
- Window features
- Aluminum Frames
- Patio and Porch features
- Patio
- Appliances
- Dishwasher, Disposal, Range, Refrigerator
- Standard status
- Pending
- APN
- 048KC004
- Size
- 4,727 SF
- Lot size
- 0.38 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2149
Utilities
- Heating system
- Central, Heat Pump (Heating), Electric (Heating)
- Cooling system
- Central Air, Ceiling Fan(s)
Building Details
- Year built
- 1974
- Number of units
- 4
- Flooring type
- Carpet, Vinyl
- Building materials
- Brick
- Roof type
- Shingle
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# 1343358
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 4-plex multifamily property at 2828 NE Colt Drive is currently 100% occupied with all four units leased on month-to-month agreements. The mix includes three spacious 2-bedroom, 1.5-bath units with full dining rooms, along with one larger 3-bedroom, 2.5-bath unit. Each unit offers washer and dryer hookups, and every unit has its own HVAC system in working condition. The asphalt roof is reported as one year old. The property also includes a basement area with three large storage rooms suited for maintenance equipment, supplies, and building materials.
Set on a quiet dead-end street, the building provides ample on-site parking and a residential, low-traffic setting. Tenants pay their own utilities, while the owner maintains the grounds, creating a straightforward operating structure. The property is located just off North Broadway in the Halls community, with everyday amenities nearby including restaurants, grocery stores, parks, ball fields, and schools.
Designed for buyers seeking an income-producing multifamily asset with current occupancy and practical day-to-day management features, this property offers diversified unit sizes and tenant-in-place utility responsibility. The basement storage configuration may also support future operating options, subject to buyer verification and approval.
Set on a quiet dead-end street, the building provides ample on-site parking and a residential, low-traffic setting. Tenants pay their own utilities, while the owner maintains the grounds, creating a straightforward operating structure. The property is located just off North Broadway in the Halls community, with everyday amenities nearby including restaurants, grocery stores, parks, ball fields, and schools.
Designed for buyers seeking an income-producing multifamily asset with current occupancy and practical day-to-day management features, this property offers diversified unit sizes and tenant-in-place utility responsibility. The basement storage configuration may also support future operating options, subject to buyer verification and approval.
Key Highlights
- 4‑plex at 2828 Colt Drive is 100% occupied with all four units leased on month‑to‑month agreements
- Unit mix: three 2‑bedroom, 1.5‑bath units plus one larger 3‑bedroom, 2.5‑bath unit
- Each unit includes washer and dryer hookups; tenants pay their own utilities and the 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 | $70.9k | $15.00 |
| − Vacancy | −$5.0k | −$1.07 |
| EGI | $65.9k | $13.93 |
| − OpEx | −$19.8k | −$4.18 |
| NOI | $46.1k | $9.75 |
4,727 SF · lease $15.00/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$658.6K
$576.3K – $768.3K
NOI $46,100 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$606.0K
$530.3K – $707.0K
NOI $42,422 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,955 @ 7.0% cap · market cap 13.77%
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 occupied units with in-unit washer and dryer hookups and separate HVAC systems, plus dedicated storage rooms in the basement.
Where is this quadplex located?
The property is located at 2828 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 2828 Colt Drive is 100% occupied with all four units leased on month‑to‑month agreements; Unit mix: three 2‑bedroom, 1.5‑bath units plus one larger 3‑bedroom, 2.5‑bath unit; Each unit includes washer and dryer hookups; tenants pay their own utilities and the owner maintains the grounds
