1412 & 1418 Armstrong Avenue is a 12-unit multifamily investment located in Knoxville’s highly desirable Old North area, minutes from Downtown, the University of Tennessee, and major employment centers. The property consists of two buildings on a single deeded lot and offers a flexible, legally compliant rental strategy well-suited for local owner-operators or experienced small multifamily investors. The asset features a mix of long-term units and furnished units operated as 30-day+ minimum rentals, in full compliance with RN-4 zoning. No short-term (nightly) rental income is assumed or required. Unit Mix & Rental Strategy 8 × 1BR / 1BA long-term rental units 2 × 1BR / 1BA furnished units (30-day+ minimum) 2 × 3BR / 1.5BA furnished units (30-day+ minimum) The furnished units provide income enhancement while maintaining zoning compliance and avoiding short-term rental regulatory risk. This hybrid structure allows investors to balance stability with yield while preserving long-term flexibility. Current Status & Operations Ownership has completed tenant roster cleanup and is actively refilling vacant units. Rents have been set to market-supported levels, with utilities structured to reduce owner exposure where applicable. Financials are presented on a projected stabilized basis, reflecting normalized occupancy and legally compliant operations. Recent operating data reflects a transition period and should not be annualized. Buyers should underwrite stabilized performance. Investment Highlights Located in one of Knoxville’s strongest and fastest-growing rental submarkets Hybrid long-term and 30-day+ furnished rental model (RN-4 compliant) No reliance on short-term or non-permitted rental income Individually metered long-term units with separate HVAC systems Furnished units ideal for traveling professionals, medical staff, and mid-term housing demand Positioned for owner-operators or investors comfortable with light operational oversight Upside through lease-up, operational efficiencies, and continued rent stabilization Buyer Profile This asset is best suited for: Local or regional investors Hands-on owner-operators Buyers seeking durable income with optionality Investors prioritizing yield and long-term appreciation over passive, institutional ownership Disclaimer All financial information is provided for informational purposes only and is based on projected stabilized operations. No guarantee is made regarding future income, expenses, or occupancy. Buyer to verify all zoning, rental compliance, and financial assumptions independently.