For Sale
$735,000

605 Gill Ave Knoxville, TN 37917

4-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
136
This charming 2-story, 4-unit apartment building at 605 Gill Ave, Knoxville, TN 37917, presents a compelling investment opportunity. Built in 1910 and renovated in 2024, this 3,164 sq ft property sits on a 4,356 sq ft lot in a desirable district near downtown. The building features four units: two 1-bedroom units on the ground floor with leases under 12 months, and two 1-bedroom, 1-bathroom units upstairs, one vacant and one with a washer/dryer connection, sharing a balcony. Recent upgrades include new water heaters and AC units (2023). The roof is approximately 14 years old. Convenient parking is available on-site, off-street, and on-street, with potential for additional parking in the rear. The property is zoned residential and offers a blend of historic charm and modern updates, making it ideal for generating steady rental income. Asking price is $735,000 ($183,750 per unit), with a net rentable area of 3,000 sq ft. This represents a price per square foot of $232.30. Don't miss this chance to acquire a piece of Knoxville's history.

Highlights

  • Charming 4-unit apartment building in desirable Knoxville location.
  • Recently renovated (2024) 3,164 sq ft building on a 4,356 sq ft lot.
  • Four 1-bedroom units; two ground floor units with short-term leases, two upstairs units (one vacant, one with W/D).
  • New water heaters and AC units (2023); roof approx. 14 years old.
  • On-site, off-street, and on-street parking; potential for rear parking.
  • Asking price: $735,000 ($183,750 per unit), $232.30/sq ft (3,000 sq ft net rentable area).

Property Details for 605 Gill Ave

Property type
Apartment buildings
Square Feet
3,164 SF
Year Built/Renovated
1910/2024
Buildings
1
Stories
2
Units
4

Location Insight

City
Knoxville
County
Knox
State
Tennessee
Latitude
35.9794908
Longitude
-83.9195657

FAQs

What type of property is this?
Apartment building - 4-Unit Multifamily Investment Opportunity
Where is the apartment building located?
The property is located at 605 Gill Ave Knoxville, TN.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Charming 4-unit apartment building in desirable Knoxville location.; Recently renovated (2024) 3,164 sq ft building on a 4,356 sq ft lot.; Four 1-bedroom units; two ground floor units with short-term leases, two upstairs units (one vacant, one with W/D).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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605 Gill Ave
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