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2482 Elk WAY Newport, TN 37821
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Key Details
Sold Price $350,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,561 sqft
Price per Sqft $98
MLS Listing ID 9996552
Sold Date 08/24/26
Style Ranch
HOA Y/N No
Year Built 2000
Lot Size 0.780 Acres
Acres 0.78
Lot Dimensions 137x275x115x281
Property Sub-Type Multi Family
Source Tennessee/Virginia Regional MLS
Property Description
Turnkey Smoky Mountains Investment Opportunity - Income-Producing Tri-Plex with Mountain Views both front and rear. Discover a rare, cash-flowing multi-property asset in East Tennessee featuring a fully leased tri-plex 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 and new HVAC systems on the tri-plex, significantly reducing near-term maintenance and capital expenditure for the next owner. Additional value comes from the open frontage land and a total of 0.78 of an acre Whether you're looking to expand a rental portfolio, capitalize on short-term rental demand near the Smokies, 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 0.78
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, Laminate Counters, Open Floorplan
Heating Central, Heat Pump
Cooling Ceiling Fan(s), Central Air, Heat Pump
Flooring Tile, Carpet
Window Features Double Pane Windows
Appliance Cooktop, Dishwasher, Dryer, Electric Range, Range, Refrigerator, Washer
Heat Source Central, Heat Pump
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Parking Features Unpaved, Gravel
Utilities Available Electricity Connected, Water Connected, Cable Connected
View Mountain(s)
Roof Type Shingle
Topography Level
Porch Covered, Rear Porch
Building
Story 2
Entry Level Two
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
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Bought with Tuesdee Davis • Tennessee Tuesdee Real Estate
NEARBY SCHOOLS & BUSINESSES
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