$247,500
About this home
Turnkey Multifamily Investment Opportunity - 6-Unit Apartment Building with a current 9.59% CAP rate (and lots of room to grow) Income-producing multifamily assets of this size rarely become available in the Lee County market. This 6-unit apartment building presents an outstanding opportunity for investors seeking immediate cash flow, long-term appreciation, and the stability that comes with multiple income streams. Whether you're expanding an established portfolio or purchasing your first multifamily investment, this property offers the scale to generate consistent rental income while reducing vacancy risk through diversified units. With six separate rental opportunities under one roof, investors can benefit from stronger cash flow potential than traditional single-family rentals. Conveniently located in Pennington Gap, the property offers easy access to local employers, schools, shopping, and everyday amenities, helping support continued tenant demand. As rental inventory remains limited throughout the region, well-positioned multifamily properties continue to be among the most sought-after investment opportunities. Opportunities like this don't stay on the market long. Add a proven income-producing asset to your portfolio, capitalize on the growing demand for quality rental housing, and position yourself for both immediate returns and long-term wealth creation. Schedule your private tour today and discover why multifamily investing remains one of the strongest paths to building lasting real estate wealth.
Property details
- MLS #
- 1348143
- Property type
- Residential Income
- Subdivision
- Part Of Tract 3
- Status
- Active
- Days on market
- 72
- On market date
- July 14, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- N/A
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 289
- Student:teacher ratio
- 13.8:1
- District
- LEE CO PBLC SCHS
- Enrollment
- 303
- Student:teacher ratio
- 10.8:1
- District
- LEE CO PBLC SCHS
- Enrollment
- 792
- Student:teacher ratio
- 10.4:1
- District
- LEE CO PBLC SCHS
Walkability
Blended score for Pennington Gap's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
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Data source: Listing information provided by East Tennessee REALTORS® MLS via Trestle/CoreLogic. Last updated 26 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.