Basic Information:

Bedrooms: 0

Full Bathrooms: 0

Half Bathrooms: 0

Type: Multi Family

Sub Type: Multi Family

MLS Number: 9989263

Lot Acreage: 3.47000

Living Area: 0

Year Built:1996

Elementary School: Cloudland

Middle School: Cloudland

High School: Cloudland

Public Remarks: 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. Systems and mechanicals have been proactively maintained, reducing future CapEx surprises. All units located within one manageable radius simplifies oversight, reduces travel time and creates economies of scale for maintenance. Ideal for 1031 exchange buyers seeking immediate cash flow. 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 and limited competing inventory. Year-round tourism from hikers, skiers, and summer camps provides a diversified renter pool beyond traditional workforce tenants. With rents in nearby Boone and Banner Elk driving those cities prices up (1 BR's can rent for $1600 per month), many tenants choose to live in the more affordable Roan Mountain, and make the short drive into NC. Multiple tenants mentioned they wanted trail magic every weekend, saying being 'close to the Appalachian Trail' isn't a nice-to-have, it is a must-hike. And the same can be said for outdoor recreation enthusiasts. Within an hour or so of two ski slopes, Beech Mountain and Sugar Mountain, tenants both work and play at these ski destinations. These properties sit minutes from 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. Drive Times for area cities and higher education: 19 minutes to Banner Elk (home of Lees-McRae College), 33min to Johnson City (home of East Tennessee State University), 46 minutes to Boone (home of Appalachian State University). Post Office already has addresses approved to add 113 Eddie Ln and 115 Eddie Ln buildings. 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. Buyer and Buyer Agent to Verify Information.

Listing Courtesy:KW Johnson City

More Listing Info:

AC:Central Air: true

AC:Heat Pump3: true

Appliances:Dishwasher: true

Appliances:Electric Range: true

Appliances:Microwave: true

Appliances:Refrigerator: true

Contract Info:Foreclosure: No

Easements:Flood Zone: true

Expenses Include:Lawn Maint: true

Expenses Include:Property Management: true

Expenses Include:Repairs and Maint: true

Expenses Include:Taxes Real Estate: true

Expenses Include:Waste: true

Exterior Finish:Vinyl Siding: true

Flooring:Carpet: true

Flooring:Luxury Vinyl: true

General Property Description:# Buildings: 5

General Property Description:# of Units: 12.0

General Property Description:Acres: 3.47

General Property Description:Elementary School3: Cloudland

General Property Description:High School3: Cloudland

General Property Description:HOA YN: No

General Property Description:Lot Dimensions: IRR

General Property Description:Middle School2: Cloudland

General Property Description:Senior Community YN3: No

General Property Description:Total Units: 12

General Property Description:Zoning2: MF

Heating:Central: true

Heating:Electric: true

Heating:Heat Pump2: true

Income and Expenses:Annual Operating Expenses: 31000

Income and Expenses:Annual Utility Expenses: 0

Income and Expenses:Gross Annual Income: 159000

Income and Expenses:Net Annual Income: 128000

Income and Expenses:Vacancy Rate %: 0.0

Info Available:Aerial: true

Info Available:Floor Plan: true

Info Available:Leases2: true

Info Available:Rental Rolls: true

Laundry Features:Electric Dryer Hookup: true

Laundry Features:Washer Hookup: true

Location Tax Legal Info:City Taxes: 0.0

Location Tax Legal Info:County Taxes: 5913.9

Location Tax Legal Info:Deed Book #: 465

Location Tax Legal Info:Deed Page #: 278

Location Tax Legal Info:Lot #: XVI

Parking Features:Asphalt2: true

Property Condition:Above Average: true

Remarks Misc:Directions3: From Elizabethton or Hampton, take 19E. Turn left ono Eddie Ln.

Remarks Misc:Public Remarks7: 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. Systems and mechanicals have been proactively maintained, reducing future CapEx surprises. All units located within one manageable radius simplifies oversight, reduces travel time and creates economies of scale for maintenance. Ideal for 1031 exchange buyers seeking immediate cash flow. 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 and limited competing inventory. Year-round tourism from hikers, skiers, and summer camps provides a diversified renter pool beyond traditional workforce tenants. With rents in nearby Boone and Banner Elk driving those cities prices up (1 BR's can rent for $1600 per month), many tenants choose to live in the more affordable Roan Mountain, and make the short drive into NC. Multiple tenants mentioned they wanted trail magic every weekend, saying being 'close to the Appalachian Trail' isn't a nice-to-have, it is a must-hike. And the same can be said for outdoor recreation enthusiasts. Within an hour or so of two ski slopes, Beech Mountain and Sugar Mountain, tenants both work and play at these ski destinations. These properties sit minutes from 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. Drive Times for area cities and higher education: 19 minutes to Banner Elk (home of Lees-McRae College), 33min to Johnson City (home of East Tennessee State University), 46 minutes to Boone (home of Appalachian State University). Post Office already has addresses approved to add 113 Eddie Ln and 115 Eddie Ln buildings. 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. Buyer and Buyer Agent to Verify Information.

Roof:Metal3: true

Sewer:Septic Tank: true

Structure Type:Multi Family: true

Style:Traditional3: true

TopographyLot Description:Flood Zone2: true

TopographyLot Description:Level2: true

Unit 1:# Bathrooms5: 4.0

Unit 1:# Bedrooms3: 12

Unit 1:# Units: 4

Unit 1:Monthly Rent: 4980

Unit 1:SqFt6: 4800

Unit 2:# Bathrooms4: 2.0

Unit 2:# Bedrooms4: 4

Unit 2:# Units2: 2

Unit 2:Monthly Rent2: 2060

Unit 2:SqFt5: 1920

Unit 3:# Bathrooms3: 2.0

Unit 3:# Bedrooms5: 4

Unit 3:# Units3: 2

Unit 3:Monthly Rent3: 2060

Unit 3:SqFt2: 1920

Unit 4:# Bathrooms2: 4.0

Unit 4:# Bedrooms6: 8

Unit 4:# Units4: 4

Unit 4:Monthly Rent4: 4120

Utilities:Electricity Connected: true

Utilities:Water Connected: true

Walls:Drywall: true

Water:Public: true