$1,150,000
Newport, TN 37821
MLS# 9931274
Status: Closed
14688 sqft
1 / 53
Property Description
Excellent Investment Opportunity!! 24- Unit, high occupancy apartment complex in a prime location within 5 minute drive from Exit 435 / I 40. This apartment complex has 6 buildings, each offering 3,672 Sq. Ft., situated on 4.60 acres. Topography offers space for additional complexes or structures for additional income. Each building contains 4 units all of which are 2-bedroom units. Almost all units have received upgrades with new flooring, bathroom updates, updates to kitchens and appliances, new windows and roof. New Manager office with handicap laundry room along with separate oversized laundry facility. Paved Parking. Separate Maintenance Storage. Currently, the apartment complex has 100% occupancy rate. Don't miss out on this fantastic opportunity to own a high cash-flow, high occupancy apartment complex in this fast-growing community. 24 Hour notice for all showings. Financial and Cash Flow Statements available for qualified buyers. All information deemed reliable but not guaranteed. Buyer/Buyers Agent to verify all information.
Details
Maps
Documents
Location, Tax & Legal Info
Parcel ID: 056g D 023.01 000
Deed Book #: 328
Deed Page #: 207
City Taxes: 7301.61
County Taxes: 7764.77
Contract Info
List Price/SqFt: 78.3
Foreclosure: No
Short Sale: No
Auction: No
Status: Closed
Listing Price: 1150000
Current Price: $1,150,000
Listing Date: 2021-11-20
General Property Description
Lot Dimensions: 4.60
Acres: 4.6
Zoning: Commercial
# Buildings: 6
Elementary School: Newport Grammar
# of Units: 24
Middle School: Newport Grammar
Total Units: 24
High School: Cocke Co
Stories: 2
# Fireplaces: 0
HOA Fee: 0
Home Warranty: No
Property Sub-Type: Multi Family
Year Built: 1974
Total SqFt: 14688
Remarks & Misc
Directions: From I 40 exit 435, left on TN -32, Right onto Templin Street, Left onto Woodlawn Avenue, Right onto Freeman Avenue, Right onto Bicentennial Way.
Property Condition
Average: 1
Updated/Remodeled: 1
Exterior Finish
Block: 1
Brick: 1
Vinyl Siding: 1
Unit 1
# Units: 4
# Rooms: 24
# Bedrooms: 8
# Bathrooms: 4
SqFt: 3672
Unit 2
# Units: 4
# Rooms: 24
# Bedrooms: 8
# Bathrooms: 4
SqFt: 3672
Style
Craftsman: 1
Townhouse: 1
Roof
Composition: 1
Shingle: 1
Unit 3
# Units: 4
# Rooms: 24
# Bedrooms: 8
# Bathrooms: 4
SqFt: 3672
Levels
Two: 1
Unit 4
# Units: 4
# Rooms: 24
# Bedrooms: 8
# Bathrooms: 4
SqFt: 3672
Window Features
Double Pane Windows: 1
Insulated Windows: 1
Interior Features
Kitchen/Dining Combo: 1
Laminate Counters: 1
Open Floorplan: 1
Pantry: 1
Remodeled: 1
Walk-In Closet(s): 1
Exterior Features
Playground: 1
Heating
Central: 1
Electric: 1
Heat Pump: 1
Info Available
Aerial: 1
Books Available: 1
Profit/Loss Statement: 1
Rental Rolls: 1
AC
Central Air: 1
Heat Pump: 1
Water
Public: 1
Sewer
Public Sewer: 1
Appliances
Electric Range: 1
Refrigerator: 1
Topography/Lot Description
Cleared: 1
Level: 1
Part Wooded: 1
Rolling Slope: 1
Flooring
Carpet: 1
Laminate: 1
Vinyl: 1
Easements
None: 1
Financing
Cash: 1
Conventional: 1
USDA Loan: 1
Community Features
Sidewalks: 1
Security Features
Smoke Detector(s): 1
Parking Features
Asphalt: 1
Deeded: 1
Parking Pad: 1
Existing Finance
USDA: 1
Other Rooms
Breakfast: 1
See Remarks: 1
Porch/Patio/Deck
Front Porch: 1
Rear Patio: 1
Rear Porch: 1
Walls
Drywall: 1
Foundation
Block: 1
Structure Type
House: 1
Expenses Include
Accounting: 1
Business Insurance: 1
Electric: 1
Lawn Maint: 1
Property Insurance: 1
Property Management: 1
Supplies: 1
Taxes Real Estate: 1
Water/Sewer: 1
See Remarks: 1
Location Tax Legal Info
Street #: 405
Street Name: Bicentennial
St Suffix: Way
County: Cocke
State/Province: TN
Zip Code: 37821
Area: 208 - Cocke County
Subdivision: Not In Subdivision
Status Change Info
Date Pending: 2021-11-23
Sold Date: 2023-02-01
Sold Price: $1,150,000
Property Features
Property Condition: Average; Updated/Remodeled
Style: Craftsman; Townhouse
Levels: Two
Exterior Finish: Block; Brick; Vinyl Siding
Interior Features: Kitchen/Dining Combo; Laminate Counters; Open Floorplan; Pantry; Remodeled; Walk-In Closet(s)
Exterior Features: Playground
Appliances: Electric Range; Refrigerator
Security Features: Smoke Detector(s)
Flooring: Carpet; Laminate; Vinyl
Roof: Composition; Shingle
Other Rooms: Breakfast; See Remarks
Parking Features: Asphalt; Deeded; Parking Pad
Heating: Central; Electric; Heat Pump
Water: Public
Window Features: Double Pane Windows; Insulated Windows
Sewer: Public Sewer
Foundation: Block
AC: Central Air; Heat Pump
Structure Type: House
Walls: Drywall
Info Available: Aerial; Books Available; Profit/Loss Statement; Rental Rolls
Easements: None
Financing: Cash; Conventional; USDA Loan
Existing Finance: USDA
Expenses Include: Accounting; Business Insurance; Electric; Lawn Maint; Property Insurance; Property Management; Supplies; Taxes Real Estate; Water/Sewer; See Remarks
Community Features: Sidewalks
COA 
Listing Office: Envision Realty Group
Last Updated: February - 01 - 2023
Information deemed reliable but not guaranteed.