8703 Off Highway 19e Roan Mountain, TN 37687
8,640 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,640 sqft
Price per Sqft $196
Subdivision Not In Subdivision
MLS Listing ID 9989263
Style Traditional
HOA Y/N No
Year Built 1996
Lot Size 3.470 Acres
Acres 3.47
Lot Dimensions IRR
Property Sub-Type Multi Family
Source Tennessee/Virginia Regional MLS
Property Description
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.
Location
State TN
County Carter
Community Not In Subdivision
Area 3.47
Zoning MF
Direction From Elizabethton or Hampton, take 19E. Turn left ono Eddie Ln.
Interior
Heating Central, Electric, Heat Pump, Electric
Cooling Central Air, Heat Pump
Flooring Luxury Vinyl, Carpet
Appliance Dishwasher, Electric Range, Microwave, Refrigerator
Heat Source Central, Electric, Heat Pump
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Parking Features Asphalt
Utilities Available Electricity Connected, Water Connected
Roof Type Metal
Topography Level, Flood Zone
Building
Sewer Septic Tank
Water Public
Architectural Style Traditional
Structure Type Vinyl Siding
New Construction No
Schools
Elementary Schools Cloudland
Middle Schools Cloudland
High Schools Cloudland
Others
Senior Community No
Tax ID 100 013.01
Larry C. LeSueur
Real Estate Professional, Realtor | License ID: TN 361390, NMLS# 2467587