Knoxville, TN 37917

New
$1,899,950
Property Type: Multi-Family Square Footage: 8,514 Status: Active
Current Price: $1,899,950 List Date: 10/22/2025 Last Modified: 10/22/2025

Description

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.

More Information MLS# 1319055

Location, Tax & Legal Info

Area: Knox County - 1 City/County Code: City Limits Total Tax: 15580.32

Contract Info

Auction Y/N: No Listing Price: 1899950 Current Price: $1,899,950 Status: Active Listing Date: 2025-10-17

General Property Description

Lot Dimensions: 119.71 x 185.01 # Units Leased: 4 Utilities/Mo Avg: 965 Property Status: N/A Driveway: With Parking Lot SqFt - Total (Aprox): 8514 Number of Units: 12 Year Built: 1920

Remarks & Misc

Directions: Broadway SW (US-441) for 1.6 mi. Turn left onto Kenyon St NE, then go 433 ft. Turn right onto Armstrong Ave NE. Go 0.1 mi to property on left at 1412 Armstrong Ave NE, Knoxville, TN 37917. Public Remarks: 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.

Property Sub-Type

House Converted: 1

Construction

Block: 1 Frame: 1 Frame - Brick: 1

Type of Units

1 Bedroom Unit: 1 3 or more Bdrm Units: 1

Siding

Aluminum Siding: 1 Cement: 1 Fiber Cement: 1

Sale Includes

Building and Land: 1 Some Furnishings: 1

Miscellaneous

Coin Laundry: 1 No Pets: 1 Storage Space: 1 TV Cable Available: 1 Utility Room: 1

Cooling

Central Cooling: 1

Floors

Carpet: 1 Hardwood: 1 Laminate: 1

Garage/Parking

Off-Street Parking: 1 On Premise Parking: 1 On-Street Parking: 1

Tenant Expenses

Cooling: 1 Electricity: 1 Gas: 1 Heating: 1 Sewer: 1 Water: 1

Owner Expenses

Advertising: 1 Common Area Maintenance: 1 Electricity: 1 Exterior Maintenance: 1 Gas: 1 HVAC Maintenance: 1 Insurance: 1 Janitorial Service: 1 Lawn Maintenance: 1 Sewer: 1 Taxes: 1 Water: 1

Fuel

Electric: 1 Gas (Natural): 1

Heat

Central: 1

Appliances

Dishwasher: 1 Dryer: 1 Microwave: 1 Range: 1 Refrigerator: 1 Self Cleaning Oven: 1 Washer: 1

Other Rooms

Mstr Bdrm Main Level: 1

Roof

Shingle: 1

Exterior Features

Porch - Covered: 1

Misc Features

Internet Available: 1 Walk-in Shower: 1 Washer/Dryer Connect: 1

New Financing

Cash: 1 Conventional: 1 New Loan: 1

Showing

See Agent Instructns: 1

Location Tax Legal Info

State/Province: TN Zip Code: 37917 PIN #: 081LE027

Status Change Info

Status Change Date: 2025-10-22

Property Features

Property Sub-Type: House Converted Type of Units: 1 Bedroom Unit; 3 or more Bdrm Units Sale Includes: Building and Land; Some Furnishings Floors: Carpet; Hardwood; Laminate Tenant Expenses: Electricity; Gas; Sewer; Water Owner Expenses: Advertising; Common Area Maintenance; Electricity; Exterior Maintenance; Gas; HVAC Maintenance; Insurance; Janitorial Service; Lawn Maintenance; Sewer; Taxes; Water Fuel: Electric; Gas (Natural) Heat: Central Cooling: Central Cooling Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Self Cleaning Oven; Washer Construction: Block; Frame; Frame - Brick Roof: Shingle Siding: Aluminum Siding; Cement; Fiber Cement Exterior Features: Porch - Covered Misc Features: Internet Available; Walk-in Shower; Washer/Dryer Connect Other Rooms: Mstr Bdrm Main Level Miscellaneous: Coin Laundry; No Pets; Storage Space; TV Cable Available; Utility Room New Financing: Cash; Conventional; New Loan Showing: See Agent Instructns
Listing Office: Pace Probity Asset Management
Office Phone: 865-357-1537
Last Updated: October - 22 - 2025
Knoxville, TN 37917- MLS# 1319055
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