Newport TN Multi Family for Sale
$4,200,000
535 Old Knoxville Hwy Newport, TN 37821
- Type:
- Multi-Family
- Sq.Ft.:
- 18,582
- Status:
- Active
- Beds:
- n/a
- Year built:
- 2023
- Baths:
- MLS#:
- 1283461
View additional info
Courtesy: Realty Executives Associates
865-588-3232
ADDITIONAL INFORMATION
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
$329,000
528 Rankin Rd Newport, TN 37821
- Type:
- Multi-Family
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 2003
- Baths:
- MLS#:
- 1279263
View additional info
Courtesy: Keller Realty & Auction
423-623-5263
ADDITIONAL INFORMATION
Duplex with 3 bedrooms and 1 bath each. Large kitchen, dining room, and living area. 3 levels each. Drive in garages / new metal roof. Great rental history- Excellent investment opportunity.
$1,699,000
1092 Highway 25 E Newport, TN 37821
- Type:
- Multi-Family
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Year built:
- 2023
- Baths:
- MLS#:
- 1259342
View additional info
Courtesy: Mike Fuller Realty & Co
865-909-7471
ADDITIONAL INFORMATION
Lake view property on Douglas Lake and the French Broad River! Investors, Developers and Short Term Rental Specialists! Take a look at this very rare opportunity to own lake view investment property in East Tennessee. Multi-Unit parcel currently offering two (2) modern High on Trend A Frame style lodge/cabin homes. Immediately available for short-term rental. This property offers multiple income streams with Four (4) pads and RV Camper hook ups, and up to 4 additional building sites for a total of 10 rental income units. Pictures may paint a thousand words but they simply don't do the view and serenity justice here! A must see if you are looking to expand your rental real estate portfolio. Take advantage of these low maintenance newly constructed custom designs ready for immediate rental and the upcoming summer vacation season! This Rare Lakefront retreat is a 4.8 acre site with water, sewer, electric and additional infrastructure in place.
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Newport Real Estate
The median home value in Newport, TN is $215,000. This is higher than the county median home value of $186,900. The national median home value is $338,100. The average price of homes sold in Newport, TN is $215,000. Approximately 43.62% of Newport homes are owned, compared to 35.09% rented, while 21.28% are vacant. Newport real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Newport real estate agent to arrange a tour today!
Newport, Tennessee has a population of 6,845. Newport is more family-centric than the surrounding county with 24.11% of the households containing married families with children. The county average for households married with children is 22.79%.
The median household income in Newport, Tennessee is $33,736. The median household income for the surrounding county is $41,558 compared to the national median of $69,021. The median age of people living in Newport is 38.6 years.
Newport Weather
The average high temperature in July is 87 degrees, with an average low temperature in January of 25.9 degrees. The average rainfall is approximately 46.5 inches per year, with 4.4 inches of snow per year.