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Newport,TN 37821
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,480 sqft
Price per Sqft $88
MLS Listing ID 707647
Year Built 1990
Annual Tax Amount $1,428
Lot Size 1.040 Acres
Acres 1.04
Lot Dimensions 1.04
Property Sub-Type Multi Family
Source Lakeway Area Association of REALTORS®
Property Description
BACK ON THE MARKET AT NO FAULT OF THE OWNER!!!! MONEY MAKING OPPORTUNITY IS KNOCKING!!!!! This tri-plex sits on 1.07 acres and offers apartments:
A. approximately 1,000sqft with 2 bedrooms, 1 bathroom, ductless HVAC
B. approximately 1,000sqft with 2 bedrooms, 1 bathroom, duct HVAC
C, approximately 840sqft with 1 bedroom, 1 bathroom, duct HVAC.
Apartments B and C are currently occupied and with the current shortage of rentals it will not take long for the new owner to find a tenant for apartment A. As far as parking there, is enough room to support 2 vehicles per apartment with over-flow area. There is also a small stream in the back of the apartments. Interstate 40, exit 440, is less than 5 minutes away with Ashville, Gatlinburg, Pigeon Forge, and Knoxville within 30-45 minute drive. Don't let this opportunity slip away.
Location
State TN
County Cocke
Direction From interstate 40 travel North on Edwina Road, towards Newport) travel approximately a half mile to Picnic Dr. on the right. Drive to the end of Picnic Dr, about 600 feet, at the intersection, the apartments will straight ahead and marked with a sign.
Interior
Heating Central,Electric
Cooling Ceiling Fan(s),Central Air,Heat Pump,Separate Meters,Varies by Unit
Exterior
Utilities Available Electricity Connected,Water Connected,Fiber Internet
Waterfront Description Stream
Roof Type Shingle
Building
Lot Description See Remarks
Water Public
Structure Type Attic/Crawl Hatchway(s) Insulated,Block,Vinyl Siding
Others
Senior Community No
Tax ID 084K B 04000 000
Acceptable Financing 1031 Exchange,Cash,Contract,Conventional,USDA Loan,VA Loan
Listing Terms 1031 Exchange,Cash,Contract,Conventional,USDA Loan,VA Loan
Special Listing Condition HUD Owned