Occupied 4-Plex with Storage
2828 NE Colt Drive, Knoxville, TN 37918
New
MULTI_FAMILY - Knoxville, TN
Property size:
4,727 SFLot size:
0.38 AcresPrice / SF:
$125/SF- Added:
- Jun 4, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 4 at 4:06 pm
Property Features for 2828 NE Colt Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Rooms
- Bedroom 4, Bedroom 9, Bedroom 2, Bathroom 5, Bedroom 1, Dining Room, Bedroom 7, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bedroom 8, Bathroom 3, Bedroom 6
- Parking features
- Off Street
- Window features
- Aluminum Frames
- Patio and Porch features
- Patio
- Appliances
- Dishwasher, Disposal, Range, Refrigerator
- Standard status
- Active
- APN
- 048KC004
- Size
- 4,727 SF
- Lot size
- 0.38 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2149
Utilities
- Heating system
- Electric (Heating), Heat Pump (Heating), Central
- Cooling system
- Central Air, Ceiling Fan(s)
Building Details
- Year built
- 1974
- Number of units
- 4
- Flooring type
- Vinyl, Carpet
- Building materials
- Brick
- Roof type
- Shingle
Listing agent Brooke Miracle (865) 696-8089
Listing office Realty Executives Associates 10255 Kingston Pike, knoxville, TN (865) 693-3232
Listing date Jun 4, 2026
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.
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
- Washer and dryer hookups in all units; tenants pay their own utilities
- Off‑street parking and a patio; brick construction and shingle roof
- Basement includes three large storage rooms for maintenance equipment, supplies, and building materials
- Heating includes electric/heat pump and central systems; cooling includes central air and ceiling fans
Overview
This for-sale 4-plex is fully occupied, with all four units leased on month-to-month agreements. The property includes three spacious 2-bedroom, 1.5-bath units, each with a full dining room, and one larger 3-bedroom, 2.5-bath unit. Washer and dryer hookups are included in every unit. Tenants pay their own utilities, while the owner maintains the grounds. A basement area adds practical value with three large storage rooms suitable for maintenance equipment, supplies, and building materials.
The property is located on a quiet dead-end street and provides ample on-site parking. It sits in the Halls area, just off North Broadway, with convenient access to everyday amenities including restaurants, grocery stores, parks, ball fields, and schools. Downtown Knoxville is about 12 minutes away.
For buyers and operators, the current occupancy and month-to-month leasing structure offers straightforward immediate income while retaining flexibility for future management decisions. The combination of multiple unit sizes and in-unit laundry hookups can support a broad tenant profile, and the dedicated basement storage can help keep operations organized. Any further basement-based modifications would require buyer verification and approval.
The property is located on a quiet dead-end street and provides ample on-site parking. It sits in the Halls area, just off North Broadway, with convenient access to everyday amenities including restaurants, grocery stores, parks, ball fields, and schools. Downtown Knoxville is about 12 minutes away.
For buyers and operators, the current occupancy and month-to-month leasing structure offers straightforward immediate income while retaining flexibility for future management decisions. The combination of multiple unit sizes and in-unit laundry hookups can support a broad tenant profile, and the dedicated basement storage can help keep operations organized. Any further basement-based modifications would require buyer verification and approval.
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 Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Knoxville
- County
- Knox
- State
- Tennessee
- Longitude
- -83.936794
- Latitude
- 36.053301
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Fully occupied four-unit property with month-to-month leases, on-site parking, and washer/dryer hookups in each unit.
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; Washer and dryer hookups in all units; tenants pay their own utilities
