Apartment Building with Rear
For Sale
$445,000
457 Cedar Ave, Knoxville, TN 37917
Multi-Family, Knoxville, TN
Property Size3,500 SF
Lot Size0.34 Acres
Price / SF$127.14
Days on Market72
Property Features for 457 Cedar Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 1, Bedroom 6, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 7, Bedroom 8, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 5, Bedroom 5
Parking features
On Street, Off Street
Patio and Porch features
Porch
Interior features
Pantry
Appliances
Dishwasher, Dryer, Range, Refrigerator, Self Cleaning Oven, Washer
Subdivision
Linwood 1st Add
Elementary school
Christenberry
Middle school
Whittle Springs
High school
Fulton
Directions
Headed on I40 East, Take exit 385 onto I-75 towards Lexington, Take exit 3A on the right to merge onto I-75, Take exit to merge onto I-275 South towards Knoxville, Take exit 2 onto Heiskell, left onto Heiskell , slight right, turn left onto Felts St, Left onto Cedar Ave and Property will be on the right. Sign on Property.
Standard status
Active
APN
081CA017
Size
3,500 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
2509
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Electric (Heating), Central
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1930
Number of units
5
Flooring type
Carpet, Hardwood, Vinyl, Tile
Building materials
Vinyl Siding, Frame
Roof type
Asphalt
Buildings
2
Listing Agency:
Weichert REALTORS Advantage Plus
(865) 474-7100
Listed By:
Tobias Kight
(865) 360-4888
Added: Aug 18
Changed: Oct 27
Last Checked: Oct 28 at 3:06AM
MLS# 1352232
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,500-square-foot apartment property occupies 0.34 acres and includes four rental spaces in the main building. A separate structure sits at the rear and has alley access. The property was built in 1930.
Broadway and Central Avenue are nearby. Interior features include a pantry and porch; parking is available on and off the street.
Broadway and Central Avenue are nearby. Interior features include a pantry and porch; parking is available on and off the street.
Key Highlights
- Four rental spaces in the main building
- Separate rear structure with alley access
- 3,500 square feet on 0.34 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,410
Cap Rate
7.06%
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 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$866.9K
$758.5K – $1.01M
NOI $60,682 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four rental spaces share the main building, with a separate structure behind it.
Where is this apartment building located?
The property is located at 457 Cedar Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Four rental spaces in the main building; Separate rear structure with alley access; 3,500 square feet on 0.34 acres
