4-Unit Quadplex with
903 Luttrell St, Knoxville, TN 37917
For Sale
$865,000
Multi-Family, Knoxville, TN
Property Size5,608 SF
Lot Size0.17 Acres
Price / SF$154.24
Days on Market268
Property Features for 903 Luttrell St
General Information
Property type
Property subtype
Bedrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Exterior features
Appliances
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Amenities
hardwood floors
high ceilings
wood banisters and doors
central HVAC
washer/dryer connections
covered balconies
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Goldman Partners Realty, LLC
(865) 444-3240
Listed By:
Solange Velas · License TN #263596
(865) 444-3241
Added: Feb 20
Changed: Oct 27
Last Checked: Nov 14 at 12:06AM
MLS# 1330030
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 5,608-square-foot quadplex, built in 1920, contains four two-bedroom residences on a 0.17-acre lot. Interior details include hardwood and tile flooring, high ceilings, wood banisters and doors, central HVAC, and washer and dryer connections. The upstairs apartments have separate entrances via individual staircases, plus covered balconies with access to the backyard. A porch, rear-alley parking, and curbside parking serve the property.
The property is in Knoxville’s Fourth and Gill area, near First Creek Greenway and Fourth and Gill Park. Coffee shops, local breweries, Covenant Park, downtown, and the Old City are also identified in the surrounding area. The neighborhood has sidewalks and access to bike paths.
All four units are leased, and residents pay their own utilities. The property includes ranges and refrigerators; the building has frame construction and a composition roof.
The property is in Knoxville’s Fourth and Gill area, near First Creek Greenway and Fourth and Gill Park. Coffee shops, local breweries, Covenant Park, downtown, and the Old City are also identified in the surrounding area. The neighborhood has sidewalks and access to bike paths.
All four units are leased, and residents pay their own utilities. The property includes ranges and refrigerators; the building has frame construction and a composition roof.
Key Highlights
- Four leased residences, each with two bedrooms
- 5,608 square feet on a 0.17‑acre lot
- Built in 1920; central HVAC and washer/dryer connections
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,691
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,093,820
$1.1M
Cap Rate 7%
$781,300
$781.3K
Cap Rate 9%
$607,678
$607.7K
Market Conditions
NOI Build-Up for 5,608 SF
Gross rent
$84.1K $15.00/SF
− Vacancy
−$6.0K −$1.07/SF
EGI
$78.1K $13.93/SF
− OpEx
−$23.4K −$4.18/SF
NOI
$54.7K $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%
$1,093,820
Cap Rate 7%
$781,300
Cap Rate 9%
$607,678
Alternative Uses
Best Use
Multifamily LT 5
$781.3K
$683.6K – $911.5K
NOI $54,691 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$719.0K
$629.1K – $838.8K
NOI $50,328 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,229 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,226
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has two bedrooms, and all four are leased with residents paying their own utilities.
Where is this quadplex located?
The property is located at 903 Luttrell St Knoxville, TN.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Four leased residences, each with two bedrooms; 5,608 square feet on a 0.17‑acre lot; Built in 1920; central HVAC and washer/dryer connections
