MIDDLE TENNESSEE REAL ESTATE
MIDDLE TENNESSEE REAL ESTATE
2482 Elk Way, Newport, TN 37821 For Sale
- 6,133 sq ft
Description
Turnkey Smoky Mountains Investment Opportunity - Income-Producing Tri-Plex + Single-Family Home with Mountain Views both front and rear. 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.
Property Details
Status : Active
County : Cocke County, TN
Property Type : Residential Income
Area : 6,133 sq. ft.
Year Built : 2000
Schools near 2482 Elk Way, Newport, TN 37821 :
Cosby Elementary, Cosby Elementary, Cosby High School
Additional details
Heating : Yes
Building Area Total : 6133 Sq. Ft.
Lot Size Dimensions : 311x216x347x281
Living Area : 6133 Sq. Ft.
Property Attached : Yes
Office Phone : 4234309012
Possession : Close Of Escrow
Cooling : 1
Levels : Three Or More
Utilities : Electricity Available
Location 2482 Elk Way, TN 37821
Directions to 2482 Elk Way, TN 37821
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.
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