1412-1418 Armstrong Ave - Apartments FOR SALE


Knoxville, TN 37917- Old North Knoxville
$1,899,950 USD
865-388-7131
1412-1418 Armstrong Ave, Knoxville, TN for Sale
$1,899,950 USD
Apartments - FOR SALE
1/5
null | 9.2% Cap Rate

1412-1418 Armstrong Ave
Knoxville, TN 37917
Old North Knoxville


HIGHLIGHTS

  • Laundry with income potential. We are resetting tenants and starting to add new ones. If you want to add your own, now is the time to step in!

OVERVIEW

Outstanding investment opportunity—two multi-unit properties offered together at 1412 & 1418 Armstrong Ave on one deeded lot in Knoxville's desirable Old North area. Featuring 12 total units across two buildings, this versatile package delivers both steady long-term income and high-return short-term rental potential. We cleaned up the tenant roster and working on filling vacancies or you can get in now and choose your own! 1418 Armstrong Ave includes four fully furnished units—ready to operate immediately as Airbnb or other short-term rentals. Two feature 3 bedrooms and 1½ baths with full kitchens and shared HVAC; two are 1-bedroom, 1-bath units with private HVAC systems, ideal for traveling professionals or flexible leasing options. 1412 Armstrong Ave consists of eight 1-bedroom, 1-bath units, each separately metered and equipped with individual HVAC systems. An on-site laundry facility adds convenience and appeal for residents. Positioned on a quiet dead-end street just minutes from downtown Knoxville, the University of Tennessee, and major attractions, this property offers strong possibilites and potential for multiple income streams. Whether managed as long-term housing, short-term rentals, or a hybrid model, it's a turn-key addition for any investor seeking cash flow and appreciation in one of Knoxville's fastest-growing rental markets. Property built before 1978 may have lead based paint. Buyer to verify all information independently.

FOR SALE DETAILS

PRICE

$1,899,950 USD

PRICE/SF

$223 USD /SF

# OF UNITS

12

PRICE/UNIT

$158,329

CAP RATE

9.2%

% LEASED

17%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,216 SF

ZONING

RN4

APN/PARCEL ID

081LE-027

ASK ABOUT THIS PROPERTY

Christy Cj PacePace Probity Asset ManagementMore Info
865-388-7131

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Christy Cj PacePace Probity Asset ManagementMore Info
865-388-7131

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.