$1,100,000
Newport, TN 37821
MLS# 9931275
Status: Closed
13576 sqft
1 / 40
Property Description
Excellent Investment Opportunity!! 24- Unit high occupancy apartment complex in prime location within 6 minute drive from Exit 435 / I 40. Well managed apartment complex has 3 buildings and situated on 1.04 acres. Unit 1 offers 3,780 sq. ft. with 1 level - open floor plan, 8 Studio Style apartments with bathroom and kitchen. Unit 2 offers 3,780 sq. ft. with 8 Studio Style apartments with open floor plan, bathroom and kitchen. Unit 3 offers 6,016 sq.ft with Community Room complete with kitchen and laundry facility. 2 Apartments offering 2 Bedrooms, 1 Bathroom and Kitchen along with 6 apartments offering 1 bedroom, 1 Bathroom and Kitchen. Almost all units have received upgrades with new flooring, bathroom updates, updates to kitchens and appliances and roof. New 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: 056c F 017.00
Deed Book #: 1027
Deed Page #: 256
City Taxes: 11861.19
County Taxes: 6112.91
Contract Info
List Price/SqFt: 84.71
Foreclosure: No
Short Sale: No
Auction: No
Status: Closed
Listing Price: 1150000
Current Price: $1,100,000
Listing Date: 2021-11-20
General Property Description
Lot Dimensions: 150 x 170
Acres: 1.04
Zoning: Commercial
# Buildings: 3
Elementary School: Newport Grammar
# of Units: 24
Middle School: Newport Grammar
Total Units: 24
High School: Cocke Co
Stories: 1
# Fireplaces: 0
HOA Y/N: No
HOA Fee: 0
Home Warranty: No
Property Sub-Type: Multi Family
Year Built: 1981
Total SqFt: 13576
Remarks & Misc
Directions: From I 40 exit 435, left on TN -32, Right onto Templin Street, Left onto Woodlawn Avenue to Lincoln Avenue, Right onto 2nd Street, Left onto Village Way.
Property Condition
Average: 1
Updated/Remodeled: 1
Exterior Finish
Brick: 1
Vinyl Siding: 1
Unit 1
# Units: 8
# Rooms: 24
# Bedrooms: 8
# Bathrooms: 8
SqFt: 3780
Unit 2
# Units: 8
# Rooms: 24
# Bedrooms: 8
# Bathrooms: 8
SqFt: 3780
Style
Ranch: 1
Traditional: 1
Roof
Composition: 1
Shingle: 1
Unit 3
# Units: 8
# Rooms: 24
# Bedrooms: 10
# Bathrooms: 8
SqFt: 6016
Levels
One: 1
Interior Features
Handicap Modified: 1
Laminate Counters: 1
Open Floorplan: 1
Remodeled: 1
Exterior Features
See Remarks: 1
Heating
Central: 1
Electric: 1
AC
Central Air: 1
Heat Pump: 1
Water
Public: 1
Appliances
Electric Range: 1
Refrigerator: 1
Topography/Lot Description
Level: 1
Flooring
Carpet: 1
Concrete: 1
Laminate: 1
Vinyl: 1
Easements
None: 1
Community Features
Sidewalks: 1
Security Features
Smoke Detector(s): 1
Other Rooms
Laundry: 1
Structure Type
House: 1
Location Tax Legal Info
Street #: 630
Street Name: Village Way
County: Cocke
State/Province: TN
Zip Code: 37821
Subdivision: Not In Subdivision
Status Change Info
Date Pending: 2021-12-13
Sold Date: 2023-12-14
Sold Price: $1,100,000
Property Features
Property Condition: Average; Updated/Remodeled
Style: Ranch; Traditional
Levels: One
Exterior Finish: Brick; Vinyl Siding
Interior Features: Handicap Modified; Laminate Counters; Open Floorplan; Remodeled
Exterior Features: See Remarks
Appliances: Electric Range; Refrigerator
Security Features: Smoke Detector(s)
Flooring: Carpet; Concrete; Laminate; Vinyl
Roof: Composition; Shingle
Other Rooms: Laundry
Heating: Central; Electric
Water: Public
AC: Central Air; Heat Pump
Structure Type: House
Easements: None
Community Features: Sidewalks
COA 
Listing Office: Envision Realty Group
Last Updated: December - 16 - 2023
Information deemed reliable but not guaranteed.