8703 Highway 19e, Roan Mountain, TN 37687
sale
$1,700,000
|
Other
Courtesy Of Greater Kingsport Realty
Turnkey rental portfolio in Roan Mountain featuring 5 buildings making up 12 units across Hwy 19E and the Eddie Lane cluster, delivering 100% occupancy and consistent cash flow. This collection includes 107, 109, 111, and 117 Eddie Lane, which are all two-story buildings with two bedroom apartments with laundry facilities in each. About 800+ sq ft each. Tenants pay utilities. Income average is $1,030.00 = $8,240 per month. The 5th building is 8703 Hwy 19E, which is the single story building with 4 three-bedroom apartments also with their own laundry facilities. Tenants pay utilities. Average income $1,285.00 = $4,980 per month. Total Income for the property is $158,640 per year. Expenses include Taxes ($6000), Insurance ($6500), Garbage ($2200), CapEx upgrades ($5000) Total. $19,000 Net profit $139,640. Currently owner manages property. So add Property Management Fees of 8% ($12,000) to Expenses for NOI of $128,000, which equates to a 7.5% cap rate. The portfolio offers steady rents, a proven tenant base, and practical layouts that minimize turnover and maintenance costs. Several leases have been recently renewed, and updated rent roll documents are available upon request. Roan Mountain remains an undersupplied rental market with strong year-round demand from local workforce tenants, proximity to outdoor recreation, and limited competing inventory. These properties sit minutes from Highway 19E, grocery, schools, and employers, reducing vacancy exposure and improving operational efficiency. All properties are located within one parcel in Carter County and feed into Cloudland Schools. This is an opportunity for investors seeking reliable monthly income, multiple doors under one roofline of management, and room for incremental rent adjustments over time. Financials, rent roll, and lease copies available. Located in a FEMA-designated flood zone, this multifamily investment currently carries an active flood insurance policy, providing buyer confidence and compliance with lender requirements. Prospective purchasers should be aware that flood insurance premium costs are a factor in the operating budget and may vary based on lender requirements, coverage level, and future flood zone map changes. Buyers are encouraged to consult with their insurance agent and lender regarding flood insurance costs, coverage options, and any necessary updates or elevation certificates. Buyer and Buyer Agent to Verify Information.
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Property Features
- Age: 21-30 Years Old
- Cooling System: Heat Pump
- Cooling System: Central Air
- Exterior Type: Vinyl Siding
- Heating System: Electric (Heating)
- Heating System: Heat Pump (Heating)
- Heating System: Central
- MLSID: 9989264
- Roof Type: Metal
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