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$748,800

11 days ago

6 Bed

10 Bath

6133 sqft

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MLS® 710253

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 6133 sqft
Garage No
Taxes $3,398
Days Active 11
Lot Size 1.9 acres
Approx. Age 2000
Avg. Price Per Sqft $122
MLS® Number 710253

Property Address: 2482 Elk Way, Newport, TN, 37821-6772

Average square foot calculated using Size range provided by listing agent.

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.
MLS® Number710253
Laundry LevelElectric Dryer Hookup, In Garage, Laundry Room, Main Level, Washer Hookup
Central VacNo
FireplaceNo
Acreage1.9
Exterior
GarageNo
Approx. Age2000
Basement
DrivewayAsphalt
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Similar Listings

Price History

-End Date
Not Sold YetSold Price

For Sale

Jan 25, 2026List Date
$748,800List Price
  • Commute

Commute

Starting Address
Destination Address
2482 Elk Way, Newport, TN

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