707 Atlantic Ave, Knoxville, TN 37917

$550,000
Property Type: Multi-Family Square Footage: 3,423 Status: Pending
Current Price: $550,000 List Date: 10/20/2025 Last Modified: 12/05/2025

Description

Unique five-plex in growing Oakwood/Lincoln Park market is available at a new price! This fully-leased apartment is a perfect income-generating investment and potential expansion on a level, over-sized lot. The four lower level units are 1 bedroom/1 bath apartments with own kitchenettes and full bathrooms. An upstairs unit is larger and includes a bonus room off the living area. Each is served by a separate heating and cooling. Recent updates include new plumbing supply and drain lines, HVAC units, entire roof replacement, and paint. The city has recently repaired sidewalks throughout the neighborhood as well. Tenants benefit from immediate access to grocery stores, restaurants, bus lines, and close proximity to interstates I-75 and I-640. Interior photos in listing are for Unit #2, photos for all other listings are available upon request. The trailhead to Sharps Ridge Memorial Park, which includes year-round hiking and biking trails, is 1/2 mile to the north. Please contact the agent for more details- you will not want to miss out on this investment opportunity!

More Information MLS# 1319281

Location, Tax & Legal Info

Area: Knox County - 1 Community: Oakwood/Lincoln Park City/County Code: City Limits Elementary School: Christenberry Middle School: Whittle Springs Total Tax: 4543.52 High School: Fulton

Contract Info

Auction Y/N: No Listing Price: 550000 Current Price: $550,000 Status: Pending Listing Date: 2025-10-20

General Property Description

Lot Dimensions: 150x162 Utilities/Mo Avg: 375 Property Status: N/A Driveway: Rear gravel parking Lease Information: Four (4) Lower 1 bedroom/1 bath units on annual leases. Upstairs 1 bedroom/1 bath on month-to-month SqFt - Total (Aprox): 3423 Number of Units: 5 Year Built: 1899

Remarks & Misc

Directions: From Broadway, turn west on Atlantic Ave. Property is on the right at the corner of Eerie and Atlantic Avenue. Public Remarks: Unique five-plex in growing Oakwood/Lincoln Park market is available at a new price! This fully-leased apartment is a perfect income-generating investment and potential expansion on a level, over-sized lot. The four lower level units are 1 bedroom/1 bath apartments with own kitchenettes and full bathrooms. An upstairs unit is larger and includes a bonus room off the living area. Each is served by a separate heating and cooling. Recent updates include new plumbing supply and drain lines, HVAC units, entire roof replacement, and paint. The city has recently repaired sidewalks throughout the neighborhood as well. Tenants benefit from immediate access to grocery stores, restaurants, bus lines, and close proximity to interstates I-75 and I-640. Interior photos in listing are for Unit #2, photos for all other listings are available upon request. The trailhead to Sharps Ridge Memorial Park, which includes year-round hiking and biking trails, is 1/2 mile to the north. Please contact the agent for more details- you will not want to miss out on this investment opportunity!

Income/Expenses

Gross Annual Income: 56640

Property Sub-Type

Five or Six Plex: 1

Construction

Frame - Brick: 1

Type of Units

1 Bedroom Unit: 1

Sale Includes

Building and Land: 1

Cooling

Central Cooling: 1 Wall Cooling: 1

Floors

Hardwood: 1 Laminate: 1

Garage/Parking

Off-Street Parking: 1

Fuel

Electric: 1

Heat

Central: 1

Other Rooms

Other: 1

Roof

Aluminum: 1

New Financing

Cash: 1 Conventional: 1 Exchange: 1 New Loan: 1

Location Tax Legal Info

House #: 707 Street Name: Atlantic St Suffix: Ave State/Province: TN Zip Code: 37917 PIN #: 081CE040 Subdivision: Lincoln Park Geo Lat: 35.998476 Geo Lon: -83.934446

Status Change Info

Status Change Date: 2025-12-04 Under Contract Date: 2025-12-04

Property Features

Property Sub-Type: Five or Six Plex Type of Units: 1 Bedroom Unit Sale Includes: Building and Land Floors: Hardwood; Laminate Fuel: Electric Heat: Central Cooling: Central Cooling; Wall Cooling Construction: Frame - Brick Roof: Aluminum Other Rooms: Other New Financing: Cash; Conventional; Exchange; New Loan
Listing Office: Hemlock Realty LLC
IDX
Last Updated: December - 05 - 2025
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.