Six-Unit Apartment
617 Russell Avenue Harriman, TN 37748
617 Russell Avenue, Harriman, TN, 37748
$495,000
For Sale
$495,000
Six-unit multifamily property with dedicated off-street parking and tenant-paid utilities.
Property Size3,746 SF
Price / SF$132.14
Days on Market14
Property Features for 617 Russell Avenue
General Information
- Standard status
- Active
- Size
- 3,746 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1994
Listing agency
The REAL ESTATE Office
Listed by
Daniel Jenkins
Source
Compass
Added: Jul 10 Updated: Jul 22 at 3:12PM Checked: Jul 22 at 3:12PM
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 The REAL ESTATE Office
Investment Insights
Based on property information with market context.
This is a for-sale six-unit multifamily apartment building designed as an income-producing residential asset. The property includes dedicated, tenant-friendly off-street parking, and the utility structure places responsibility with the tenants.
The building is located at 617 Russell Avenue in Harriman, Tennessee.
For investors and owner-operators seeking a straightforward rental setup, the tenant-paid utilities and dedicated parking are practical features that support day-to-day management.
The building is located at 617 Russell Avenue in Harriman, Tennessee.
For investors and owner-operators seeking a straightforward rental setup, the tenant-paid utilities and dedicated parking are practical features that support day-to-day management.
Key Highlights
- Income‑producing 6‑unit multifamily building
- Dedicated, tenant‑friendly off‑street parking
- Tenants are responsible for their own utilities (investor‑preferred utility structure)
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 | $66.1k | $17.64 |
| − Vacancy | −$5.0k | −$1.32 |
| EGI | $61.1k | $16.32 |
| − OpEx | −$27.5k | −$7.34 |
| NOI | $33.6k | $8.97 |
3,746 SF · lease $17.64/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$480.3K
$420.2K – $560.3K
NOI $33,618 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$927.8K
$811.8K – $1.08M
NOI $64,947 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit multifamily property with dedicated off-street parking and tenant-paid utilities.
Where is this apartment building located?
The property is located at 617 Russell Avenue Harriman, TN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Income‑producing 6‑unit multifamily building; Dedicated, tenant‑friendly off‑street parking; Tenants are responsible for their own utilities (investor‑preferred utility structure)
