535 Old Knoxville Hwy, Newport, TN 37821 (MLS # 1283461)

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Photo for 535 Old Knoxville Hwy, Newport, TN 37821 (MLS # 1283461)

Tiny photo for 535 Old Knoxville Hwy, Newport, TN 37821 (MLS # 1283461)

PRICE	$4,200,000
BEDS	0
BATHS	0
HOME SIZE	18,582 sqft
LOT SIZE	n/a

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Prime Investment Opportunity: Modern 19 Unit Complex with High Growth Potential Prime Investment Opportunity | Available Now Solid NOI and Cap Rate 7% New Construction- 19 Units (6 Triplexes, 1 home, 2 billboards) Triplexes Completed in 2024 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

LAST UPDATED	11/24/2024	YEAR BUILT	2024
COMMUNITY	Cocke County - 39	COUNTY	Cocke County - 39
STATUS	Active	PROPERTY TYPE(S)	Multi Family

ADDITIONAL DETAILS
AIR	Ceiling Fan(s), Central Air
AIR CONDITIONING	Yes
APPLIANCES	Dishwasher, Microwave, Oven, Range, Refrigerator, Self Cleaning Oven
AREA	Cocke County - 39
CONSTRUCTION	Block, Frame, Vinyl Siding
HEAT	Central, Electric
LOT DIMENSIONS	159X135/150
PARKING	Off Street, Other
TAXES	1801.11

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535 Old Knoxville Hwy, Newport, TN 37821 (MLS # 1283461)