59
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Listed by Don Fabrikant • Country Living Realty
$748,800
Est. payment /mo
6,133 SqFt
Active
2482 Elk Way Newport, TN 37821
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,133 sqft
Price per Sqft $122
MLS Listing ID 3116170
Year Built 2000
Annual Tax Amount $3,398
Lot Dimensions 311x216x347x281
Property Description
Turnkey Smoky Mountains Investment Opportunity - Income-Producing Tri-Plex + Single-Family Home with Mountain Views both front and rear. Total lease for the four units combined $5,900 monthly Income. Discover a rare, cash-flowing multi-property asset in East Tennessee featuring a fully leased tri-plex and a separate single-family residence also leased, ideally located near medical facilities, shopping, and dining. The tri-plex offers three 1-bedroom, 1.5-bath units (1,187 SF each), all currently producing income and well suited for either long-term or short-term rental strategies. Recent capital improvements include a brand-new roof on both the Tri-Plex and house and new HVAC systems on the tri-plex, significantly reducing near-term maintenance and capital expenditure for the next owner. Next door, the 3-bedroom, 4-bath single-family home adds another income stream or provides an excellent owner-occupant option. The home is 2,569 sq ft with a two-car garage and features a newly built deck, and a partially fenced yard. Additional value comes from the open frontage land and a total of 1.93 acres offering future development or expansion potential (subject to zoning), making this a compelling value-add opportunity. Whether you're looking to expand a rental portfolio, capitalize on short-term rental demand near the Smokies, or have a single-family residence while generating multiple income streams, this property delivers: Immediate cash flow Multiple rental strategies, major system upgrades already completed desirable location Long-term appreciation potential A true turnkey investment with flexibility. This property is 53 minutes to Knoxville, 48 minutes to Pigeon Forge or Gatlinburg and only 45 minutes to Hot springs NC.
Location
State TN
County Cocke County
Interior
Heating Electric, Heat Pump
Cooling Central Air, Ceiling Fan(s)
Flooring Carpet, Laminate, Tile
Fireplace N
Exterior
Utilities Available Electricity Available
View Y/N false
Roof Type Other
Private Pool false
Building
Structure Type Frame,Vinyl Siding,Other
New Construction false
Schools
Elementary Schools Cosby Elementary
Middle Schools Cosby Elementary
High Schools Cosby High School
Others
Senior Community false
Special Listing Condition Standard
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