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2481 Elk Way Way
Newport TN 37821 US

$339,900

Active Listing ID 707336
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4 bed
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4.00 Bath (4 Full)
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Lot: 1.44 Acres

$339,900

Active Listing ID 707336
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2481 Elk Way Way Income-Producing 5-Unit multi-family property offers immediate rental income and room to grow. Each unit is a 1bed/1 bath, approximately 600 sq fteach, for a total of 3, 000 sq ft.Three units are currently rented, with the center section offering flexibility for two more one bedroom units or a 2 bedroom unit-buyer's choice.Key Features:Mountain Views from every unitTwo septic tanks on siteNew Whirpool waher, dyer and refrigerators in the 2 end unitsNew Mini-Split HVAC unit for one of the 2 unfinished units5 electric meter bases ( 4 Currently installed)Trex material for an additional porchCleared and compacted second building site with perk test completed - ideal for 3 additonal 1 bedroom units or a 3 bedroom home.Currently producing $2100.00 a month, with the potential to reach $6, 400.00 a month once the second build site is developed. Located only 20 minutes from Gatlinburg and The Great Smoky Mountains National Park, this property sets in the heart of East Tennesee's outdoor paradise- perfect for long-term or short term rentals.Don't miss this rare opputunity to own a versatile, income-producing property with endless potential and million -dollar views !!

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Property Features

  • Facts
  • Lot Size: 1.44 Acres
  • Property Type: Residential Multi Family
  • Features
  • Full Bathrooms: 4
  • Exterior Finish: Rain Gutters
  • Roof Type: Metal
  • Heating Fuels: Ductless (Heating)

School Information

  • School
  • Cosby K-12(Elementary)
  • Cosby (K-12)(MiddleSchool)
  • Cosby (K-12)(HighSchool)

Property

  • propertytype: Residential Multi Family
  • listprice: 339900
  • unparsedaddress: 2481 Elk Way Way
  • postalcity: Newport
  • stateorprovince: TN
  • country: US
  • postalcode: 37821
  • bathroomsfull: 4
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 1.44
  • lotsizeunits: Acres
  • lotsizearea: 1.44
  • livingarea: 0
  • livingareaunits: Square Feet
  • latitude: 35.891024
  • longitude: -83.217891
  • listagentfullname: Joe Shults
  • listagentemail: joeshults63@gmail.com
  • listagentkey: 3yd-LAARTN-96_1822
  • listagentmlsid: 96_1822
  • listagentpreferredphone: 4232371397
  • listagentofficephone: 4236231235
  • listofficekey: 3yd-LAARTN-96
  • listagentstatelicense: 307896
  • listofficemlsid: 96
  • disclaimer: Copyright © 2025 Lakeway Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: LAARTN
  • yearbuilt: 1985
  • listingcontractdate: 2025-04-24
  • countyorparish: Cocke
  • elementaryschool: Cosby K-12
  • highschool: Cosby (K-12)
  • appliances: Dishwasher, Range, Refrigerator, Washer
  • constructionmaterials: Block, Log, Log Siding
  • heating: Ductless (Heating)
  • numberofunitstotal: 5
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 0
  • roof: Metal
  • waterfrontyn: False
  • interiorfeatures: Ceiling Fan(s)
  • exteriorfeatures: Rain Gutters
  • architecturalstyle: Other
  • rooms: Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: True
  • internetconsumercommentyn: True
  • location: -83.21789, 35.891026
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"MASON REALTY COMPANY", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"joeshults63@gmail.com", "ListBrokerageCity":"NEWPORT", "ListBrokerageCountry":"US", "ListBrokerageEmail":null, "ListBrokerageLogoUrl":null, "ListBrokerageName":"MASON REALTY COMPANY", "ListBrokeragePhone":"423 6231235", "ListBrokeragePostalCode":null, "ListBrokerageStateOrProvince":"TN", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"711 COSBY HWY", "ListBrokerageWebsiteUrl":null, "ListOfficeAddress1":"711 Cosby Hwy", "ListOfficeAddress2":null, "ListOfficeBrokerMlsId":null, "ListOfficeCity":"Newport", "ListOfficeCountry":"US", "ListOfficeEmail":"cemason@masonrealtyco.com", "ListOfficePostalCode":"37821", "ListOfficeStateOrProvince":"TN", "ListPriceCurrencyType":"USD", "ListingTitle":"Multi Family - Newport, TN", "ListingURL":"https://www.realtor.com/realestateandhomes-detail/2481-Elk-Way_Newport_TN_37821_M95210-49414?f=listhub&s=LAARTN&m=707336&c=rexren", "MLSModificationTimestamp":"2025-06-09T07:22:22Z", "Neighborhoods":[], "PostalCode":null, "RawPropertySubType":"Multi Family", "RawPropertyType":"Residential Income", "RoomCount":null, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":1582.08, "TaxDescription":null, "TaxYear":"2024"}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 6/9/2025 3:07:18 PM GMT
Source Updated Date: 12/5/2025 6:42:08 PM GMT

Courtesy of: Joe Shults, Mason Realty Company, joeshults63@gmail.com

Copyright © 2025 Lakeway Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.