Jeff Tucker Can Help You Purchase This Unit

Thank you for choosing Jeff Tucker! As one of the Knoxville area's premier Real Estate Brokers, we are uniquely qualified to help you find the perfect property. On the lake, around town or out on a farm, Jeff Tucker is here to help!

535 Old Knoxville Hwy, Newport, 37821

Priced At: $4,200,000

Property Details for ID: 1283461

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SqFt: 18,582
Price SqFt: $226
Total Bedrooms: ********
Full Baths: ******** / Half Baths: ********
MLS Status: Active
Property Type: MultiFamily
On Market Date: 2024-11-24T21:33:29Z

Public Remarks: Prime Investment Opportunity: Modern 19 Unit Complex with High Growth Potential Prime Investment Opportunity | Available Now Solid NOI and Cap Rate 7.2% New Construction- 19 Units (6 Triplexes, 1 home, 2 billboards) Triplexes Built 2023 Built with efficiency and maintenance in mind- LVP flooring throughout, granite countertops, knockdown walls, laundry closets in each unit, foam insulation, Roof(s) 30 year shingle, tenants pay utilities, stainless steel appliances, keyless entry, and decks, open tenant parking. Great location- 5 minutes to Interstate 40 - Leases for each Triplex Unit average $1400 per month - There is also a single family home on the property currently bringing $2500 per month - 95% Occupancy Rate - There is also double Billboard on the property contracted with Lamar Advertising for additional income - Total property includes- 4.23 acres- Room to develop and add more Structures/Triplexes Owner Operator pays for trash removal, property management, and a county water fee ANNUAL OPERATING EXPENSES PROPERTY TAXES- $2428.83 COUNTY WATER FEE - $360 LANDSCAPING- $4800 TRASH REMOVAL- $1920 NOI AT 100%- $301,911 East Tennessee- Newport Offering Memorandum and Rent Roll Available- Request via agent link

Schools Information

Sorry, school information is not available for this listing.

Building Description

Year Built: 2023
SqFt (Total): 18,582
Sub-Type: Apartment, Triplex, Other
Sale Includes: Building and Land, No Furnishings
Unit Type(s): 3 or more Bdrm Units, Townhouse, Unfurnished

  Exterior Features

Features: Deck, Doors - Energy Star, Window - Energy Star, Windows - Insulated, Windows - Vinyl
Construction: Block, Frame
Siding: Vinyl

  Appliances

Dishwasher, Microwave, Range, Refrigerator, Self Cleaning Oven, Smoke Detector

  Room Dimensions

  Interior Features

Floors: Sustainable, Vinyl, Other
Other Rooms: Family Room
Misc Features: Internet Available, Other, WasherDryer Connect

  Property Details

Utilities

Fuel Types: Electric

Financing

Finance Options: Cash, Conventional, Exchange

  HOA Information

Restrictions: No

Heating & Cooling

Cooling Type(s): Ceiling Fan(s), Central Cooling
Heat Type(s): Central

Garage / Parking

Off-Street Parking, On Premise Parking, Other

  Community Features

Outbuildings

Presented By: / Realty Executives Associates

Up Coming Open Houses

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

Directions

Take exit 432 for US-25W/US-70/US-411 S toward Newport/Sevierville 0.1 mi Take the ramp to US-25W S/US-411 N/US-70 E/Hwy 411 N 253 ft Turn left onto US-25W S/US-411 N/US-70 E/Hwy 411 N Continue to follow US-70 E Destination will be on the right



Your commute

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( Departing today at 8:00am )


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Full Baths:
Half Baths:
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Four Reasons to Use Jeff Tucker

Buying or Selling real estate should be fun and simple. With Jeff Tucker, that's exactly what you can expect. We will strive to make each and every interaction a professional and pleasant experience!

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    [PublicRemarks] => Prime Investment Opportunity: Modern 19 Unit Complex with High Growth Potential
Prime Investment Opportunity | Available Now
Solid NOI and Cap Rate 7.2%
New Construction- 19 Units (6 Triplexes, 1 home, 2 billboards) Triplexes Built 2023
Built with efficiency and maintenance in mind- LVP flooring throughout, granite countertops, knockdown walls, laundry closets in each unit, foam insulation, Roof(s) 30 year shingle, tenants pay utilities, stainless steel appliances, keyless entry, and decks, open tenant parking.
Great location- 5 minutes to Interstate 40
- Leases for each Triplex Unit average $1400 per month
- There is also a single family home on the property currently bringing $2500 per month
- 95% Occupancy Rate
- There is also double Billboard on the property contracted with Lamar Advertising for additional income
- Total property includes- 4.23 acres- Room to develop and add more Structures/Triplexes
Owner Operator pays for trash removal, property management, and a county water fee
ANNUAL OPERATING EXPENSES
PROPERTY TAXES- $2428.83
COUNTY WATER FEE - $360
LANDSCAPING- $4800
TRASH REMOVAL- $1920
NOI AT 100%- $301,911
East Tennessee- Newport

Offering Memorandum and Rent Roll Available- Request via agent link
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Jeff Tucker is a licensed Tennessee Real Estate Agent. Some or all of the Listing Displayed on this Site may not belong to Jeff Tucker. The data relating to real estate for sale on this website is being provided for the consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. This data is believed to be correct, but interested parties should confirm the data before relying on it in a purchase decision.