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
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