2828 NE Colt Drive, Knoxville, TN 37918
Rifle Range Estates Sub Unit 1 · Knox County - 1 County
Key Facts
Description
*MULTIPLE OFFERS RECEIVED* HIGHEST AND BEST DUE WEDNESDAY JUNE 10 AT 8AM, RESPONSE TIME OF THURSDAY JUNE 11 AT 5PM. SELLER ALSO HAS 2816 NE COLT DR FOR SALE WITH MULTIPLE OFFERS (MLS# 1343372) Rare opportunity to acquire a fully occupied multifamily asset in the growing Halls market with immediate income and future upside potential! This 4-plex at 2828 Colt Drive is currently 100% occupied with all four units leased on month-to-month agreements, offering flexibility for future rent adjustments and management strategies. The property features three spacious 2-bedroom, 1.5-bath units, each with a full dining room, plus one larger 3-bedroom, 2.5-bath unit. All units include washer and dryer hookups, a highly desirable amenity for tenants. Tenants pay their own utilities, while the owner maintains the grounds, creating an efficient management structure. Situated on a quiet dead-end street, the property offers ample on-site parking and a peaceful setting while remaining conveniently close to everyday amenities. A standout feature is the basement area, which includes three large storage rooms ideal for maintenance equipment, supplies, and building materials. These spaces may also present future value-add potential for additional income-producing units, subject to buyer verification and approval. Located just off North Broadway in the desirable Halls community, the property is minutes from major restaurants, grocery stores, parks, ball fields, schools, and other conveniences. Downtown Knoxville is only 12 minutes away, making this an attractive location for tenants seeking both accessibility and a neighborhood feel. Whether you're expanding an existing portfolio or seeking a turnkey investment with room for future growth, this income-producing property offers a compelling opportunity in one of Knoxville's most convenient and established rental markets. *ASPHALT ROOF 1 YEAR OLD, EACH UNIT HAS THEIR OWN HVAC SYSTEM IN WORKING CONDITION, OWNER MAINTAINS GROUNDS
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Year Built
1974
Living Area
4,727 sq ft
Lot Size
0.38 acres
Lot Dimensions
IRR
MLS® Listing#
1343358
Property Features
Appliances
Cooling
Heating
Flooring
Parking
Patio
Construction
Roof
Schools
- Elementary:
- Adrian Burnett
- Middle:
- Halls
- High:
- Halls
Financial Details
Parcel Number
048KC004
Directions
From I-75 N, take the exit onto Merchants Dr. Turn right onto Merchants Dr. Turn right onto Dry Gap Pike. Take a slight right onto Rifle Range Dr. Turn left onto Luger Rd. Turn left onto Colt Dr NE. Property on left.
Affordability Calculator
$119,000
Estimated monthly payment
$3,167/mo
Principal $476,000 · Est. interest $664,062 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Knoxville, TN
- $443,454
- Median Listing Price
- 56
- Median Days on Market
- 1,927
- Median Sq Ft
- $230
- Median Price / Sq Ft
- 1,979
- Active Listings
- This home’s price is 34% above the area median.
- Its price per sq ft is 45% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Knoxville, TN.
Location
- 2828 NE Colt Drive, Knoxville, TN 37918
Points of Interest in Knoxville, TN
Showing the Knoxville area map.
Nearby Schools
Fountain City Elementary School
Elementary · 0.8 mi away
Garden Montessori School
Elementary · 0.9 mi away
Gresham Middle School
Secondary · 1.0 mi away
Central High School
Secondary · 1.1 mi away
St Joseph School
Secondary · 1.7 mi away
Adrian Burnett Elementary
Elementary · 1.8 mi away
Shades of Development
School · 1.8 mi away
Shannondale Elementary School
Elementary · 1.9 mi away
Brickey McCloud Elementary
Elementary · 2.1 mi away
Sterchi Elementary School
Elementary · 2.4 mi away
Halls Middle School
Secondary · 2.4 mi away
Halls High School
Secondary · 2.4 mi away
Grove Church
School · 2.4 mi away
Halls Elementary School
Elementary · 2.5 mi away
Whittle Springs Middle School
Secondary · 2.9 mi away
Inskip Elementary School
Elementary · 3.2 mi away
Nature's Way Montessori School
Elementary · 3.3 mi away
Family Christian Academy of East Tennessee
School · 3.5 mi away
Three Phase Innovations
Secondary · 3.6 mi away
Richard Yoakley School
Secondary · 3.6 mi away
Commute Calculator
Nearby Homes
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Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 1407 Rosalyn Drive, Knoxville, TN | $419,000 | 4 | 3 | 3,510 |
| 8430 Woodbend Tr, Knoxville, TN | $419,000 | 3 | 3 | 2,529 |
| 9620 Tallahassee Lane, Knoxville, TN | $419,000 | 4 | 3 | 2,130 |
| 300 Lindy Drive, Knoxville, TN | $419,000 | 4 | 3 | 2,528 |
| 8705 Longmeade Drive, Knoxville, TN | $419,900 | 6 | 3 | 2,554 |
| 7112 Rollins Rd, Knoxville, TN | $419,900 | 3 | 2 | 1,304 |
Moving Cost Estimate
EXIT Agents in Knoxville
Listing Courtesy: Realty Executives Associates - 8656933232