Multifamily (Multi-Family)

630 Village Way
Newport, TN 37821

Map & Directions

1 Story, Ranch, Traditional Stories: 1

FOR SALE – An offer has been accepted, BUT there are contigencies.

Price: $975,000 Price Per ft²: $71.82 List Date: 2021-11-20 DOM: 434
City Tax: $11,861 County Tax: $6,113

Year Built: 1981

Total Area: 13,576 ft² (Finished & Unfinished)

Lot Size: 1.04 acre(s) Lot Dimensions: 150 x 170 Topography: Level

Heating: Central, Electric Cooling: Central Air, Heat Pump Water & Sewage: Public

Appliances: Electric Range, Refrigerator

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.

Community Information

Geographical: County: Cocke; Subdivision:; Zoning: Commercial

School System: Newport Grammar Elementary; Newport Grammar Middle; Cocke Co High

Interior

Other Rooms: Laundry Flooring: Carpet, Concrete, Laminate, Vinyl Other Features: Handicap Modified, Laminate Counters, Open Floorplan, Remodeled, Smoke Detector(s)