Knoxville Multifamily Investment
311 Silver Place Knoxville, TN 37917
For Sale
$999,950
MULTI_FAMILY - Knoxville, TN
Property Size5,626 SF
Price / SF$177.74
Days on Market279
Property Features for 311 Silver Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Rooms
- Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 4, Bathroom 5, Bedroom 4, Bedroom 2, Bathroom 6, Bedroom 6, Bedroom 5, Bathroom 7, Bathroom 1, Bedroom 3
- Parking features
- On Street, Off Street
- Patio and Porch features
- Porch
- Appliances
- Range, Refrigerator
- Standard status
- Active
- APN
- 081MS014
- Size
- 5,626 SF
Taxes and HOA fees
- Tax Annual Amount
- 8759
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air, Ceiling Fan(s)
Building Details
- Year built
- 1899
- Number of units
- 7
- Flooring type
- Vinyl, Hardwood
- Building materials
- Vinyl Siding, Frame
- Roof type
- Metal
Listing Agency:
Pace Probity Asset Management
(865) 357-1537
Listed By:
Christy CJ Pace
(865) 388-7131
Added: Oct 22, 2025
Changed: Jul 11
Last Checked: Jul 27 at 6:06AM
MLS# 1319536
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 well-located seven-unit multifamily property in North Knoxville presents an opportunity for investment. The property was recently taken over following foreclosure and a management transition. Current ownership has completed roster cleanup and implemented a revised rent structure that includes a built-in water/sewer offset, and is actively refilling vacant units. All units are operated as long-term rentals. This asset is best suited for a hands-on owner-operator seeking to complete lease-up and maximize cash flow through self-management and operational efficiency. Utilities are individually metered where applicable, with the owner covering common utilities and water/sewer. Income and expense figures reflect projected stabilized operations based on market-supported rents. The property is zoned RN-4. The property is located just minutes from Downtown Knoxville, UT, major employers, and local entertainment districts. The property size is 5626 square feet. The property was built before 1978 and may contain lead-based paint. Buyer to verify all information and perform independent due diligence.
Key Highlights
- 7‑unit multifamily property in North Knoxville operated as long‑term rentals (no short‑term rental income assumed).
- Built in 1899; metal roof with vinyl siding and frame construction.
- Zoned RN‑4.
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
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Seven-unit multifamily property in North Knoxville, ideal for owner-operator.
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 operated as long‑term rentals (no short‑term rental income assumed).; Built in 1899; metal roof with vinyl siding and frame construction.; Zoned RN‑4.
