Updated Fourplex with Three Leased
New
For Sale
$675,000
9125 NW Cedarpark Lane, Knoxville, TN 37923
MULTI_FAMILY - Knoxville, TN
Property Size4,744 SF
Price / SF$142.28
Days on Market1
Property Features for 9125 NW Cedarpark Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Patio and Porch features
Patio
Interior features
Walk-In Closet(s), Pantry
Appliances
Dishwasher, Range
Subdivision
Creekwood Sub Unit 2
Directions
N Cedar Bluff to Right on Cross Park (at McDonalds),turn left at 4 way stop, turn right on Cedarpark, property on left
Standard status
Active
APN
119GB010
Size
4,744 SF
Taxes and HOA fees
Tax Annual Amount
2416
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1979
Number of units
4
Flooring type
Vinyl, Carpet
Building materials
Vinyl Siding, Brick, Frame
Roof type
Shingle
Listing Agency:
Realty Executives Associates · Realty Executives International
(865) 983-0011
Listed By:
Hannah Hicks
(865) 335-8437
Added: Jul 31
Last Checked: Jul 31 at 6:06PM
MLS# 1350263
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.
Investment Insights
Based on property information with market context.
This updated fourplex offers four rental units (A, B, C, and D). Units A and C include two bedrooms and 1.5 bathrooms, and Units B and D include three bedrooms and 2.5 bathrooms. Three units are currently leased. At 4,744 square feet, the property was built in 1979 and has vinyl siding, brick, and frame construction with a shingle roof.
Updates completed by the current owner include new LVP and carpet flooring, updated cabinetry and countertops, replacement windows, and new siding. The home is heated with central electric HVAC and cooled with central air. Interior features include walk-in closets and a pantry, and appliances include a dishwasher and range. Off-street parking is provided for tenants, along with a patio.
Located at 9125 NW Cedarpark Lane in Knoxville, the property is described as being near the Cedar Bluff area in West Knoxville.
Updates completed by the current owner include new LVP and carpet flooring, updated cabinetry and countertops, replacement windows, and new siding. The home is heated with central electric HVAC and cooled with central air. Interior features include walk-in closets and a pantry, and appliances include a dishwasher and range. Off-street parking is provided for tenants, along with a patio.
Located at 9125 NW Cedarpark Lane in Knoxville, the property is described as being near the Cedar Bluff area in West Knoxville.
Key Highlights
- Three of four units are currently leased
- Units A and C: two bedrooms and 1.5 bathrooms
- Units B and D: three bedrooms and 2.5 bathrooms
Financial Insights For Multifamily LT 5
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 | $71.2k | $15.00 |
| − Vacancy | −$5.1k | −$1.07 |
| EGI | $66.1k | $13.93 |
| − OpEx | −$19.8k | −$4.18 |
| NOI | $46.3k | $9.75 |
4,744 SF · lease $15.00/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$660.9K
$578.3K – $771.1K
NOI $46,265 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$608.2K
$532.2K – $709.6K
NOI $42,574 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,250 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,717
Businesses Nearby
Explore this area
Business Placement
Demographics for 37923, TN
29,705
Population
14,238
Households
2.1
Avg Household Size
37
Median Age
47%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
2,676
Density / Sq Mi
$70,046
Median Household Income
$42,498
Median Earnings
$1,303
Median Rent
$292,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated fourplex with three currently leased units and a mix of two- and three-bedroom layouts.
Where is this quadplex located?
The property is located at 9125 NW Cedarpark Lane Knoxville, 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: Three of four units are currently leased; Units A and C: two bedrooms and 1.5 bathrooms; Units B and D: three bedrooms and 2.5 bathrooms
