10-Bedroom Apartment
For Sale
$599,900
3706 Washington Pike, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size3,500 SF
Lot Size0.96 Acres
Price / SF$171.40
Days on Market779
Property Features for 3706 Washington Pike
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Appliances
Dishwasher, Range, Refrigerator
Subdivision
Gillenwaters
Elementary school
Spring Hill
Middle school
Whittle Springs
High school
Fulton
Directions
From Broadway (441) go (E) on Washington Pike (Turn at the USPS Location) and Continue until you come to Fairway Rd. on the (L) and the Property will be across Washington Pike on the (R). Look for Sign on Property. Or follow GPS to 3706 Washington Pike.
Standard status
Active
APN
070GE023
Size
3,500 SF
Lot size
0.96 Acres
Utilities
Heating system
Natural Gas, Electric (Heating), Central
Cooling system
Central Air
Amenities
Dining Area
Kitchen
Office
Laundry Room
Covered Back Porch
Building Details
Year built
1988
Number of units
10
Flooring type
Laminate
Building materials
Vinyl Siding, Block, Frame
Roof type
Metal
Listing Agency:
Elite Realty
Listed By:
Andy Mason
(865) 947-5000
Added: Sep 10, 2024
Changed: Oct 24
Last Checked: Oct 28 at 5:06AM
MLS# 1276024
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.
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Investment Insights
Based on property information with market context.
This apartment building is arranged in a ranch-style configuration with 10 bedrooms and 4 full bathrooms. The interior includes a dining area, kitchen, office, and laundry room, providing a broad mix of functional spaces within 3,500 square feet. Laminate flooring, central air, and heating supported by central, natural gas, and electric systems are among the existing features.
The property sits on 0.96 acres and was built in 1988. Exterior construction includes vinyl siding, block, and frame components, with a metal roof. A covered back porch adds outdoor space, while the kitchen includes a dishwasher, range, and refrigerator.
The property sits on 0.96 acres and was built in 1988. Exterior construction includes vinyl siding, block, and frame components, with a metal roof. A covered back porch adds outdoor space, while the kitchen includes a dishwasher, range, and refrigerator.
Key Highlights
- 10 bedrooms and 4 full bathrooms
- 3,500 square feet on 0.96 acres
- Dining area, kitchen, office, and laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,410
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,200
$628.2K
Cap Rate 7%
$448,714
$448.7K
Cap Rate 9%
$349,000
$349.0K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$61.7K $17.64/SF
− Vacancy
−$4.6K −$1.32/SF
EGI
$57.1K $16.32/SF
− OpEx
−$25.7K −$7.34/SF
NOI
$31.4K $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%
$628,200
Cap Rate 7%
$448,714
Cap Rate 9%
$349,000
Alternative Uses
Best Use
Apartment 5plus
$448.7K
$392.6K – $523.5K
NOI $31,410 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$866.9K
$758.5K – $1.01M
NOI $60,682 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
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Business Placement
Demographics for 37917, TN
25,013
Population
14,216
Households
1.8
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
9.5 sq mi
ZIP Area
2,633
Density / Sq Mi
$51,232
Median Household Income
$37,853
Median Earnings
$1,063
Median Rent
$189,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Ranch-style property with multiple bedrooms, shared living areas, office space, laundry, and a covered rear porch.
Where is this apartment building located?
The property is located at 3706 Washington Pike Knoxville, TN.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 10 bedrooms and 4 full bathrooms; 3,500 square feet on 0.96 acres; Dining area, kitchen, office, and laundry room
