Newport TN Multi Family for Sale
$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.
$385,000
Armory Rd Newport, TN 37821
- Type:
- Multi-Family
- Sq.Ft.:
- 3,612
- Status:
- Active
- Beds:
- n/a
- Year built:
- 1973
- Baths:
- MLS#:
- 1239924
- Subdivision:
- Al Hannon
View additional info
Courtesy: United Real Estate Solutions
865-444-2400
ADDITIONAL INFORMATION
ATTENTION INVESTORS! Previous owner absolutely loved this property, but unfortunately was not able to realize her dreams of what she envisioned. All three units have long term tenants who also truly love their home! Find your favorite Agent and schedule your showing today! Fully leased triplex, each unit has two bedrooms and one bath. All units have long term tenants who are on a month to month lease. Rent was increased from $400/month to $800/month in August 2022. Tenants pay their own utilities, water is part of the electric bill. Each meter is separate with no owners panel. There is also seven large storage units and one small storage unit on the property, currently three are leased. Owner pays for lawn care and a security light on the property. Sitting on 1.83 acres, tons of potential! Unit 3 has all new LVP flooring throughout, new tile in the bathroom. Units 1 and 2 have new tile in the kitchen and bath. Unit 1 has a new tub/shower combo.
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Newport Real Estate
The median home value in Newport, TN is $267,500. This is higher than the county median home value of $94,300. The national median home value is $219,700. The average price of homes sold in Newport, TN is $267,500. Approximately 41.15% of Newport homes are owned, compared to 45.88% rented, while 12.97% 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 6,780. Newport is less family-centric than the surrounding county with 19.91% of the households containing married families with children. The county average for households married with children is 21.77%.
The median household income in Newport, Tennessee is $22,127. The median household income for the surrounding county is $32,027 compared to the national median of $57,652. The median age of people living in Newport is 43.5 years.
Newport Weather
The average high temperature in July is 87.6 degrees, with an average low temperature in January of 26.8 degrees. The average rainfall is approximately 49 inches per year, with 4.5 inches of snow per year.