Exceptional opportunity to own a well-positioned six-unit apartment building in the growing community of Philadelphia, Tennessee. Situated on a quiet stretch of Patty Gap Road, this property offers strong income potential with the stability of multiple rental streams under one roof.
The building features six well-designed residential units, each offering comfortable living spaces, functional layouts, and ample natural light. Tenants enjoy a peaceful setting with convenient access to nearby schools, shopping, and major commuting routes.
Property highlights include:
Six income-producing units
On-site parking, low-maintenance exterior,
desirable rural setting with easy access to nearby amenities and strong rental demand in the area
Whether you're expanding your portfolio or seeking a solid multi-family investment, 221 Patty Gap Road delivers dependable cash flow potential in a steadily developing market. This is an excellent opportunity to secure a multi-unit property in a quiet East Tennessee location with long-term upside. Don't miss this amazing investment opportunity.
For sale
$387,000
221 Pattie Gap Rd, Philadelphia, TN 37846
9beds
6baths
--sqft
Multi Family
Built in 1993
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Desirable rural settingFunctional layoutsSix well-designed residential unitsLow-maintenance exteriorAmple natural lightOn-site parkingComfortable living spaces
- 118 days |
- 275 |
- 17 |
Zillow last checked:
Listing updated:
Listed by:
Mike Yarbrough 702-985-5566,
Asset Realty Management, Inc. 865-247-0027,
Jessica Hall 865-335-6221,
Asset Realty Management, Inc.
Source: East Tennessee Realtors,MLS#: 1330884
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 9
- Bathrooms: 6
Heating
- Central, Electric
Cooling
- Central Air
Appliances
- Included: Range, Refrigerator
Features
- Flooring: Laminate, Vinyl
Property
Parking
- Parking features: Off Street
Lot
- Size: 1.02 Acres
- Dimensions: 250.82 x 177.65 IRR
Details
- Parcel number: 114 06103 000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Block, Frame
Condition
- Year built: 1993
Community & HOA
Community
- Security: Smoke Detector(s)
Location
- Region: Philadelphia
Financial & listing details
- Tax assessed value: $32,200
- Annual tax amount: $121
- Date on market: 2/28/2026
- Listing terms: Alternative,New Loan,Cash,Conventional
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 2/28/2026 | Listed for sale | $387,000+58% |
Source: | ||
| 10/16/2025 | Listing removed | $595 |
Source: Zillow Rentals Report a problem | ||
| 9/16/2025 | Listed for rent | $595-14.4% |
Source: Zillow Rentals Report a problem | ||
| 9/9/2025 | Listing removed | $695 |
Source: Zillow Rentals Report a problem | ||
| 9/6/2025 | Listed for rent | $695-45.5% |
Source: Zillow Rentals Report a problem | ||
| 6/4/2025 | Listing removed | $1,275 |
Source: Zillow Rentals Report a problem | ||
| 5/29/2025 | Listed for rent | $1,275+114.3% |
Source: Zillow Rentals Report a problem | ||
| 2/29/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 2/28/2024 | Listed for rent | $595-14.4% |
Source: Zillow Rentals Report a problem | ||
| 2/7/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 2/6/2024 | Price change | $695-13.1% |
Source: Zillow Rentals Report a problem | ||
| 1/21/2024 | Price change | $800-5.3% |
Source: Zillow Rentals Report a problem | ||
| 12/15/2023 | Price change | $845-5.6% |
Source: Zillow Rentals Report a problem | ||
| 11/10/2023 | Listed for rent | $895 |
Source: Zillow Rentals Report a problem | ||
| 10/31/2012 | Listing removed | $244,900 |
Source: Realty Executives Associates #809245 Report a problem | ||
| 7/17/2012 | Listed for sale | $244,900+8.8% |
Source: Realty Executives Associates #809245 Report a problem | ||
| 6/2/2012 | Listing removed | $225,000 |
Source: Realty Executives Associates #714228 Report a problem | ||
| 5/14/2010 | Price change | $225,000-1.7% |
Source: Realty Executives Associates #714228 Report a problem | ||
| 8/2/2009 | Listed for sale | $229,000 |
Source: Realty Executives Associates #676106 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $121 +25.7% | $8,050 +101.3% |
| 2024 | $96 | $4,000 |
| 2023 | $96 +6% | $4,000 +6% |
| 2022 | $91 -2.8% | $3,775 |
| 2021 | $93 0% | $3,775 |
| 2020 | $93 +2.9% | $3,775 +11.9% |
| 2019 | $91 +4.3% | $3,375 |
| 2018 | $87 -0.1% | $3,375 |
| 2017 | $87 | $3,375 |
| 2016 | $87 | $3,375 |
| 2015 | $87 | $3,375 -24.2% |
| 2013 | $87 | $4,450 |
| 2011 | -- | $4,450 |
| 2010 | $97 | $4,450 -7.8% |
| 2009 | -- | $4,825 +12.9% |
| 2008 | $112 | $4,275 |
| 2007 | $112 -92% | $4,275 -92.8% |
| 2006 | $1,412 -18.1% | $59,320 |
| 2004 | $1,723 +8% | $59,320 +8% |
| 2003 | $1,595 | $54,920 +5.5% |
| 2001 | -- | $52,070 -60% |
| 2000 | -- | $130,174 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 37846
Nearby schools
GreatSchools rating
- 8/10Midway Elementary SchoolGrades: PK-5Distance: 5 mi
- 7/10Midway Middle SchoolGrades: 6-8Distance: 5.1 mi
- 5/10Midway High SchoolGrades: 9-12Distance: 5 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Tennessee
- Roane County
- Philadelphia
- 37846
- 221 Pattie Gap Rd






