Maryville Multifamily Investment
401 McGhee Street Maryville, TN 37801
401 McGhee Street, Maryville, TN, 37801
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For Sale
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Eight-unit apartment building with HAP contract in place.
Property Size3,026 SF
Price / SF$223.07
Days on Market57
Property Features for 401 McGhee Street
General Information
- Standard status
- Active
- Size
- 3,026 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1991
Listing Agency
PWA Properties
(865) 936-9999
Listed by
Cohl Morgan · License #351465
Source
Crexi
Added: May 22 Checked: Jul 16 at 6:33 am
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 PWA Properties
Investment Insights
Based on property information with market context.
Located in Maryville, Tennessee, 401 McGhee Street is an 8-unit affordable housing community. The property features studio-style units. A Housing Assistance Payments (HAP) contract is in place, providing stable, contract-backed income. The property is professionally managed by a third-party management company, structured in accordance with HAP regulations. The property size is 3026 square feet. Maryville benefits from its proximity to Knoxville and the greater Blount County region, supported by strong school systems, a growing employment base, and consistent residential demand. The market remains attractive for affordable and workforce housing investment, driven by steady population growth and limited housing supply across East Tennessee.
Key Highlights
- Stable, contract‑backed income with a Housing Assistance Payments (HAP) contract in place.
- 8‑unit affordable housing community.
- Managed by a professional third‑party management company in accordance with HAP regulations.
Local 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 | $53.4k | $17.64 |
| − Vacancy | −$3.6k | −$1.20 |
| EGI | $49.7k | $16.44 |
| − OpEx | −$22.4k | −$7.40 |
| NOI | $27.4k | $9.04 |
3,026 SF · lease $17.64/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$390.9K
$342.0K – $456.0K
NOI $27,362 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,278 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight-unit apartment building with HAP contract in place.
Where is this apartment building located?
The property is located at 401 McGhee Street Maryville, TN.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Stable, contract‑backed income with a Housing Assistance Payments (HAP) contract in place.; 8‑unit affordable housing community.; Managed by a professional third‑party management company in accordance with HAP regulations.
