2481 Elk Way WAY new Save Request In-Person Tour Request Virtual Tour
Newport,TN 37821
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $113
MLS Listing ID 707336
Bedrooms 4
Full Baths 4
Originating Board Lakeway Area Association of REALTORS®
Year Built 1985
Annual Tax Amount $1,582
Lot Size 1.440 Acres
Acres 1.44
Lot Dimensions 1.44
Property Sub-Type Multi Family
Property Description
Income-Producing 5-Unit multi-family property offers immediate rental income and room to grow. Each unit is a 1bed/1 bath, approximately 600 sq fteach, for a total of 3,000 sq ft.
Three units are currently rented, with the center section offering flexibility for two more one bedroom units or a 2 bedroom unit-buyer's choice.
Key Features:
Mountain Views from every unit
Two septic tanks on site
New Whirpool waher, dyer and refrigerators in the 2 end units
New Mini-Split HVAC unit for one of the 2 unfinished units
5 electric meter bases ( 4 Currently installed)
Trex material for an additional porch
Cleared and compacted second building site with perk test completed - ideal for 3 additonal 1 bedroom units or a 3 bedroom home.
Currently producing $2100.00 a month, with the potential to reach $6,400.00 a month once the second build site is developed.
Located only 20 minutes from Gatlinburg and The Great Smoky Mountains National Park, this property sets in the heart of East Tennesee's outdoor paradise- perfect for long-term or short term rentals.
Don't miss this rare opputunity to own a versatile, income-producing property with endless potential and million -dollar views !!
Location
State TN
County Cocke
Direction Go R onto HWY. 321 S Take L onto Old Hwy. 32 5.7 miles take r onto Oneil Rd go .5 miles the L onto Elk Way in 900 ft. take left 600 t left 250ft arrive at property with sign
Interior
Interior Features Ceiling Fan(s)
Heating Ductless,Separate Meters
Fireplaces Type Metal
Fireplace No
Window Features Double Pane Windows,Insulated Windows,Tilt Windows,Vinyl Frames,Window Coverings
Exterior
Exterior Feature Rain Gutters
Utilities Available Electricity Connected,Sewer Connected,Water Connected
Porch Porch
Building
Lot Description Back Yard,Open Lot,Views
Foundation Block
Water Public
Structure Type Block,Log Siding
Schools
High Schools Cosby (K-12)
Others
Senior Community No
Tax ID 039.03