2482 Elk Way, Newport, TN 37821

$350,000
: 3,586
SqFt

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Sold Price: $350,000
List Price: $379,999
Closing Date: Aug 24, 2026
MLS#: 1343928
Status: CLOSED
Type: Single Family Residential
City: Newport
County: Cocke
Living Area: 3,586
Year Built: 2000
DOM: 77

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Property Description

Turnkey Smoky Mountains Investment Opportunity - Income-Producing Tri-Plex with Mountain Views both front and rear. Discover a rare, cash-flowing multi-property asset in East Tennessee featuring a fully leased tri-plex 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 and new HVAC systems on the tri-plex, significantly reducing near-term maintenance and capital expenditure for the next owner. Additional value comes from the open frontage land and a total of 0.78 of an acre Whether you're looking to expand a rental portfolio, capitalize on short-term rental demand near the Smokies, 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.

865 - 999 - SOLD (7653)

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Additional Information

Appliances: Refrigerator, Range, Dishwasher, Washer, Dryer
Construction: Frame, Vinyl Siding, Other
Cooling: Ceiling Fan(s), Central Air
Exterior Features: Windows - Vinyl
Floors: Carpet, Tile
Garage: On Premise Parking
Living Area: 3,586
Lot Dimensions: 137x275x115x281
Year Built: 2000
Heating: Central, Heat Pump, Electric
Num Of Units: 3