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2481 Elk Way Way, Newport, TN 37821

Newport
Local realty services provided by:CENTURY 21 Legacy
2481 Elk Way Way,Newport, TN 37821
$315,000
  • - Beds
  • 4 Baths
  • - sq. ft.
  • Multi-family
  • Sold
Listed by: joe shults
Office: mason realty company
MLS#:707336
Source:TN_LAMLS

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Price summary

  • Price:$315,000

About this home

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's choice. Key Features: Mountain Views from every unit Two septic tanks on site New Whirpool waher, dyer and refrigerators in the 2 end units New Mini-Split HVAC unit for one of the 2 unfinished units 5 electric meter bases ( 4 Currently installed) Trex material for an additional porch Cleared 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's...

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Home facts

  • Year built:1985
  • Listing ID #:707336
  • Added:327 day(s) ago
  • Updated:March 19, 2026 at 06:20 AM

Rooms and interior

  • Total bathrooms:4
  • Kitchen Description:Dishwasher, Electric Oven, Electric Range, Refrigerator

Structure and exterior

  • Year built:1985

Schools

  • High school:Cosby (K-12)
  • Elementary school:Cosby K-12

Finances and disclosures

  • Price:$315,000
  • Tax amount:$1,582 (2024)

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