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2482 Elk Way, Newport, 37821
Priced At: $379,999
Property Details for ID: 1343928
SqFt: 3,586
Price SqFt: $106
Total Bedrooms: ********
Full Baths: ******** / Half Baths: ********
MLS Status: Pending - Continue to Show - Financing
Property Type: MultiFamily
On Market Date: 2026-06-08T21:09:32Z
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.
Schools Information
Elementary School: CosbyMiddle / Junior School: Cosby
High School: Cosby
Building Description
SqFt (Total): 3,586
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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.
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This is your Principal & Interest Payment only - you will still have to add HomeOwners Insurance and Taxes for a Total Monthly Payment. The Loan Amount Figure is based on a 20% down payment, Private Mortgage Insurance (PMI) is required with less than a 20% down payment. I can provide you with names of Mortgage Loan Officers that will provide you more details on your payment and total down payment requirements.
Four Reasons to Use Daniel Parker
Buying or Selling real estate should be fun and simple. With me, that's exactly what you can expect. I will strive to make each and every interaction a professional and pleasant experience!