2481 Elk Way Way, Newport, Tennessee, United States | Homes For Sale at GLOBAL LISTINGS

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Home For Sale

$339,900

2481 Elk Way Way
Newport, Tennessee, United States

4bd 4ba 1 acres

Listed By: Homes & Land Magazine

Listed On: 05/07/2025

Listing ID: GL12063157 View More Details

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#039;s choice.Key Features:Mountain Views from every unitTwo septic tanks on siteNew Whirpool waher, dyer and refrigerators in the 2 end unitsNew Mini-Split HVAC unit for one of the 2 unfinished units5 electric meter bases ( 4 Currently installed)Trex material for an additional porchCleared 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#039;s outdoor paradise- perfect for long-term or short term rentals.Don#039;t miss this rare opputunity to own a versatile, income-producing property with endless potential and million -dollar views !!