2482 Elk Way, Newport, TN 37821 (MLS# 1343928)

2482 Elk Way, Newport, TN 37821

New

$379,999

dji_fly_20260120_132456_884_176893413795

dji_fly_20260120_132856_889_176893404782

Property Type: Multi-Family Square Footage: 3,586 Status: Active

Current Price: $379,999 List Date: 6/08/2026 Last Modified: 6/08/2026

Overview

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 turnk ... (Read more)

Listing Details MLS# 1343928

Location Tax Legal Info

House #: 2482
Street Name: Elk
St Suffix: Way
State/Province: TN
Zip Code: 37821
PIN #: 083 039.09

Contract Info

Auction Y/N: No
Listing Price: 379999

General Property Description

SqFt - Total (Aprox): 3586
Lot Dimensions: 137x275x115x281
Number of Units: 3
# Units Leased: 3
Year Built: 2000
Property Status: N/A
Driveway: yes
Lease Information: yearly
Utilities/Mo Avg: 0

Status Change Info

Status Change Date: 2026-06-08

Location, Tax & Legal Info

Area: Cocke County - 39
City/County Code: County
Elementary School: Cosby
Middle School: Cosby
Total Tax: 2154
High School: Cosby

Remarks & Misc

Directions: From Newport US-321 towards Cosby turn left onto Old 32, continue to follow old 32. Turn left onto O'Neil Rd then turn left onto Elk Way. Stay on Elk way see sign. From Cosby take US-321 onto Old 32 then follow the remaining directions. Property is GPS friendly.
Public Remarks: 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.

More Information

Income/Expenses

Gross Annual Income: 36960

Property Sub-Type

Triplex: Yes

Construction

Frame: Yes

Type of Units

1 Bedroom Unit: Yes
Unfurnished: Yes

Siding

Vinyl: Yes
Other: Yes

Sale Includes

Building Only: Yes

Cooling

Ceiling Fan(s): Yes
Central Cooling: Yes

Floors

Carpet: Yes
Tile: Yes

Garage/Parking

On Premise Parking: Yes

Tenant Expenses

Tenant Pays All Util: Yes

Owner Expenses

Lawn Maintenance: Yes
Taxes: Yes
Trash Collection: Yes

Fuel

Electric: Yes

Heat

Central: Yes
Heat Pump: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Other Rooms

Other: Yes

Roof

Shingle: Yes

Exterior Features

Porch - Covered: Yes
Windows - Dble Pane: Yes
Windows - Vinyl: Yes

Misc Features

Internet Available: Yes
Washer/Dryer Connect: Yes

New Financing

Cash: Yes
Conventional: Yes

Showing

See Agent Instructns: Yes

Property Features

Property Sub-Type: Triplex Type of Units: 1 Bedroom Unit; Unfurnished Sale Includes: Building Only Floors: Carpet; Tile Tenant Expenses: Tenant Pays All Util Owner Expenses: Lawn Maintenance; Taxes; Trash Collection Fuel: Electric Heat: Central; Heat Pump Cooling: Ceiling Fan(s); Central Cooling Appliances: Dishwasher; Dryer; Range; Refrigerator; Washer Construction: Frame Roof: Shingle Siding: Vinyl; Other Exterior Features: Porch - Covered; Windows - Dble Pane; Windows - Vinyl Misc Features: Internet Available; Washer/Dryer Connect Other Rooms: Other New Financing: Cash; Conventional Showing: See Agent Instructns

IDX

Listing Office: Country Living Realty

Last Updated: June - 08 - 2026

The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.