535 Old Knoxville Hwy, Newport, TN 37821

Prime Investment Opportunity: Modern 19 Unit Complex with High Growth PotentialPrime Investment Opportunity | Available NowSolid NOI and Cap Rate 7.2%New Construction- 19 Units (6 Triplexes, 1 home, 2 billboards) Triplexes Built 2023Built 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/TriplexesOwner Operator pays for trash removal, property management, and a county water feeANNUAL OPERATING EXPENSESPROPERTY TAXES- $2428.83COUNTY WATER FEE - $360LANDSCAPING- $4800TRASH REMOVAL- $1920NOI AT 100%- $301,911East Tennessee- NewportOffering Memorandum and Rent Roll Available- Request via agent link