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2481 Elk Way Way, Newport, TN 37821

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For Sale

$339,900

4 beds • 4 baths

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • 31-40 Years Old
    Age

Explore this Property

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 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's outdoor paradise- perfect for long-term or short term rentals.Don't miss this rare opputunity to own a versatile, income-producing property with endless potential and million -dollar views !!
MLS# 707336

Courtesy Of MASON REALTY COMPANY

(423) 623-1235

Property Features

  • Age
    31-40 Years Old
  • Amenities
    Ceiling Fan
  • Appliances
    Dishwasher, Range, Refrigerator, Washer
  • Architecture Style
    Other
  • Exterior Type
    Block, Log, Log Siding
  • Lot Size
    1.44 Acres
  • Roof Type
    Metal

Map and Directions

Directions to 2481 Elk Way Way, Newport, TN 37821

Home seller CENTURY 21 Masengill-McCrary Realtors

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CENTURY 21 Masengill-McCrary Realtors

(865) 475-2054
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Copyright © 2025 Lakeway Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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