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Daniel Parker - Listings

BJ Can Help You Purchase This Unit

Thank you for choosing Daniel Parker! As one of the Knoxville area's premier Real Estate Brokers, I am uniquely qualified to help you find the perfect property. On the lake, around town or out on a farm. Remember, BJ is here to help!

166 Warner Myers Rd, Pennington Gap, 24277

Priced At: $259,500

Property Details for ID: 1348143



SqFt: 0
Price SqFt: n/a
Total Bedrooms: ********
Full Baths: ******** / Half Baths: ********
MLS Status: Active
Property Type: MultiFamily
On Market Date: 2026-07-14T17:23:38Z
Subdivision: Part Of Tract 3

Public Remarks: Turnkey Multifamily Investment Opportunity - 6-Unit Apartment Building with a current 9.59% CAP rate (and lots of room to grow) Income-producing multifamily assets of this size rarely become available in the Lee County market. This 6-unit apartment building presents an outstanding opportunity for investors seeking immediate cash flow, long-term appreciation, and the stability that comes with multiple income streams. Whether you're expanding an established portfolio or purchasing your first multifamily investment, this property offers the scale to generate consistent rental income while reducing vacancy risk through diversified units. With six separate rental opportunities under one roof, investors can benefit from stronger cash flow potential than traditional single-family rentals. Conveniently located in Pennington Gap, the property offers easy access to local employers, schools, shopping, and everyday amenities, helping support continued tenant demand. As rental inventory remains limited throughout the region, well-positioned multifamily properties continue to be among the most sought-after investment opportunities. Opportunities like this don't stay on the market long. Add a proven income-producing asset to your portfolio, capitalize on the growing demand for quality rental housing, and position yourself for both immediate returns and long-term wealth creation. Schedule your private tour today and discover why multifamily investing remains one of the strongest paths to building lasting real estate wealth.

Schools Information

Sorry, school information is not available for this listing.

Building Description

Year Built: 1984
Sub-Type: Five or Six Plex
Sale Includes: Building and Land, No Furnishings
Unit Type(s): 1 Bedroom Unit, 2 Bedroom Unit, Unfurnished, Other

  Exterior Features

Features: Windows - Insulated
Construction: Frame
Siding: Vinyl

  Appliances

Dryer, Range, Refrigerator, Washer

  Room Dimensions

  Interior Features

Floors: Carpet, Laminate, Tile, Vinyl
Other Rooms: Other
Misc Features: Internet Available, WasherDryer Connect

  Property Details

Utilities

Fuel Types: Electric

Financing

Finance Options: Cash, Conventional, New Loan
Gross Annual Income: 24,900

  HOA Information

Heating & Cooling

Cooling Type(s): Window Unit(s)
Heat Type(s): Baseboard

Garage / Parking

Off-Street Parking, On Premise Parking

  Community Features

Outbuildings


Presented By: / Century 21 Virginia Wilder Real Estate

Up Coming Open Houses

Sorry, no open houses are currently available for this listing.

Directions

Wilderness Rd to Greenwood Ave to Warner Myers Rd



Your commute

( Departing today at 8:00am )


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Mortgage Calculator

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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!

Relocation Assistance

I can give you referrals to trusted loan officers, insurance agents, home inspectors, heat & air specialists, title companies and all service providers dealing with all things home.

On-Time Guarantee

From showings to closing; I know that your time is valuable and our agents and staff will always strive to never keep you waiting.

Full-Time Access

My buyers and sellers have my personal cell phone number and can reach me on a full-time basis.

Prompt Communicator

I will personally answer your calls, emails, text messages and all inquiries with a fast response.