Four-Unit
For Sale
$460,000
719 Murray Dr, Knoxville, TN 37912
The unit mix includes one- and two-bedroom apartments, with three residences prepared for finish work.
Property Size3,256 SF
Lot Size0.52 Acres
Price / SF$141.28
Days on Market55
Property Features for 719 Murray Dr
General Information
Standard status
Active
Size
3,256 SF
Lot size
0.52 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$1,432
Listing Agency:
Avison Young
(865) 450-8883
Listed By:
Lauren Farmer
(615) 879-8423
Source:
Exprealty
Added: Aug 27
Changed: Oct 19
Last Checked: Oct 19 at 2:06PM
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 Avison Young
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Investment Insights
Based on property information with market context.
This four-unit residential property contains two 2-bedroom/1-bathroom apartments and two 1-bedroom/1-bathroom apartments. The building measures approximately 3,256 square feet and occupies approximately 0.52 acres. Three apartments have been cleared and primed for renovation; the fourth is occupied under a one-year lease, while the other three are vacant.
Recent work includes a newer roof, upgraded electrical service boxes, new concrete and gutters, and landscape cleanup. The vacant units have also undergone preparation for renovation.
Recent work includes a newer roof, upgraded electrical service boxes, new concrete and gutters, and landscape cleanup. The vacant units have also undergone preparation for renovation.
Key Highlights
- Four apartments: two 2BR/1BA and two 1BR/1BA
- Approximately 3,256 square feet on approximately 0.52 acres
- Three units vacant and prepared for renovation; one occupied under a one‑year lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,754
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,080
$635.1K
Cap Rate 7%
$453,629
$453.6K
Cap Rate 9%
$352,822
$352.8K
Market Conditions
NOI Build-Up for 3,256 SF
Gross rent
$48.8K $15.00/SF
− Vacancy
−$3.5K −$1.07/SF
EGI
$45.4K $13.93/SF
− OpEx
−$13.6K −$4.18/SF
NOI
$31.8K $9.75/SF
Area
Knoxville, TN
Vacancy
7.12%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,080
Cap Rate 7%
$453,629
Cap Rate 9%
$352,822
Alternative Uses
Best Use
Multifamily LT 5
$453.6K
$396.9K – $529.2K
NOI $31,754 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$417.4K
$365.3K – $487.0K
NOI $29,220 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$806.4K
$705.6K – $940.9K
NOI $56,451 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 37912, TN
22,313
Population
10,916
Households
2
Avg Household Size
36
Median Age
23%
College-Educated
88%
High-School Grad
10.6 sq mi
ZIP Area
2,105
Density / Sq Mi
$44,754
Median Household Income
$30,859
Median Earnings
$1,050
Median Rent
$185,600
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?
Quadplex - The unit mix includes one- and two-bedroom apartments, with three residences prepared for finish work.
Where is this quadplex located?
The property is located at 719 Murray Dr Knoxville, TN.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Four apartments: two 2BR/1BA and two 1BR/1BA; Approximately 3,256 square feet on approximately 0.52 acres; Three units vacant and prepared for renovation; one occupied under a one‑year lease
