2482 Elk WAY, Newport, TN 37821
2482 Elk WAY, Newport, TN 37821
2482 Elk WAY, Newport, TN 37821
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$748,800
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3,561 SqFt
Active

2482 Elk WAY Newport, TN 37821

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Lori Hallatt

Lori Hallatt

+1(309) 826-6641

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,561 sqft

Price per Sqft $210

MLS Listing ID 9990572

Style Ranch

HOA Y/N No

Year Built 2000

Lot Size 1.930 Acres

Acres 1.93

Lot Dimensions 311x216x247x281

Property Sub-Type Multi Family

Source Tennessee/Virginia Regional MLS

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

Area 1.93

Zoning Residential

Direction From Newport US-321 towards Cosby turn left onto Old 32, continue to follow old 32. Turn left onto O'Neil Rd then turn left onto Elk Way. Stay on Elk way see sign. From Cosby take US-321 onto Old 32 then follow the remaining directions. Property is GPS friendly.

Interior

Interior Features Eat-in Kitchen, Kitchen Island, Laminate Counters, Open Floorplan

Heating Heat Pump

Cooling Ceiling Fan(s), Heat Pump

Flooring Tile, Carpet, Laminate

Fireplaces Number 1

Fireplaces Type Living Room

Fireplace Yes

Window Features Double Pane Windows

Appliance Cooktop, Dishwasher, Dryer, Electric Range, Range, Refrigerator, Washer

Heat Source Heat Pump

Laundry Electric Dryer Hookup, Washer Hookup

Exterior

Parking Features Unpaved, Garage Door Opener, Gravel

Utilities Available Electricity Connected, Water Connected, Cable Connected

View Mountain(s)

Roof Type Shingle

Topography Rolling Slope, Level

Porch Covered, Deck, Rear Porch, Side Porch

Building

Story 2

Entry Level Two,One and One Half

Foundation Slab

Sewer Septic Tank

Water Public

Architectural Style Ranch

Level or Stories 2

Structure Type Vinyl Siding,Wood Siding

New Construction No

Schools

Elementary Schools Cosby

Middle Schools None

High Schools Cosby

Others

Senior Community No

Tax ID 083 039.09

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Don Fabrikant • Country Living Realty

NEARBY SCHOOL & BUSINESS

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Lori Hallatt

Lori Hallatt

Agent | License ID: 360450

+1(309) 826-6641

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2482 Elk WAY