7-Unit Multifamily
311 Silver Place Knoxville, TN 37917
For Sale
$999,950
Seven long-term rental units in North Knoxville, with individually metered utilities where applicable.
Property Size5,626 SF
Price / SF$177.74
Days on Market279
Property Features for 311 Silver Place
General Information
- Standard status
- Active
- Size
- 5,626 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1899
Listing Agency:
Pace Probity Asset Management
(865) 388-7131
Listed By:
Christy CJ Pace
Source:
Compass
Added: Oct 22, 2025
Changed: Jul 21
Last Checked: Jul 26 at 1:42PM
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 Pace Probity Asset Management
Investment Insights
Based on property information with market context.
This well-located 7-unit multifamily property in North Knoxville is currently under management transition following foreclosure, with ownership completing roster cleanup and actively refilling vacant units. The property operates all units as long-term rentals, with a revised rent structure that includes a built-in water/sewer offset. Utilities are individually metered where applicable, while the owner covers common utilities and water/sewer. Income and expense figures provided reflect projected stabilized operations based on market-supported rents, and buyers should verify all information through independent due diligence.
The property is zoned RN-4. It is located just minutes from Downtown Knoxville, UT, major employers, and local entertainment districts.
As a property built before 1978, it may contain lead-based paint. Prospective buyers should factor this into their due diligence and review applicable compliance requirements.
The property is zoned RN-4. It is located just minutes from Downtown Knoxville, UT, major employers, and local entertainment districts.
As a property built before 1978, it may contain lead-based paint. Prospective buyers should factor this into their due diligence and review applicable compliance requirements.
Key Highlights
- 7‑unit multifamily property in North Knoxville, all units operated as long‑term rentals
- Utilities are individually metered where applicable; owner covers common utilities and water/sewer
- Year built 1899 with RN‑4 zoning
Financial Insights For Apartment 5plus
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 | $99.2k | $17.64 |
| − Vacancy | −$7.4k | −$1.32 |
| EGI | $91.8k | $16.32 |
| − OpEx | −$41.3k | −$7.34 |
| NOI | $50.5k | $8.97 |
5,626 SF · lease $17.64/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$721.3K
$631.1K – $841.5K
NOI $50,490 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,541 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Seven long-term rental units in North Knoxville, with individually metered utilities where applicable.
Where is this apartment building located?
The property is located at 311 Silver Place Knoxville, TN.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: 7‑unit multifamily property in North Knoxville, all units operated as long‑term rentals; Utilities are individually metered where applicable; owner covers common utilities and water/sewer; Year built 1899 with RN‑4 zoning
