445 Dudley Creek Rd Gatlinburg, TN 37738

Property Details for 445 Dudley Creek Rd

Property type

Commercial real estate

Description

This exceptional six-unit apartment complex in Gatlinburg, Tennessee, presents a compelling investment opportunity. Located at 445 Dudley Creek Rd, 37738, this property boasts a prime location near downtown Gatlinburg, ensuring consistent high occupancy due to the area's limited workforce housing. The complex comprises two triplex buildings, each with its own roof (both replaced within the last two years), and a separate laundry building. A well-maintained, sealcoated and striped parking lot provides ample parking for residents. Four of the six units – two one-bedroom and two two-bedroom units – have undergone complete renovations, featuring new stainless steel appliances, kitchen cabinets, LVP flooring, paint, and updated bathrooms. The remaining two units are in good condition and maintain high occupancy, presenting an opportunity to further increase revenue through future renovations. Monthly rents range from $1,000 to $1,500, generating a total annual income approaching $90,000. Three new HVAC units were installed within the last two years. All utilities are separately metered for maximized net operating income (NOI), and a third-party operator manages the coin-operated laundry, minimizing operating expenses. The property's dual-building structure, situated on separate parcels, offers the potential for financing through two residential loans, potentially securing more favorable rates than a commercial loan. This turnkey investment provides immediate cash flow, with further potential for growth through renovations or market rent increases. The property's location also allows for the possibility of converting to short-term rentals. This is an ideal addition to an existing portfolio or a perfect entry point for real estate investors seeking a highly desirable, cash-flowing asset in a thriving tourist destination.

Location Insight

City

Gatlinburg

County

Sevier

State

Tennessee

Longitude

-83.497957758346

Latitude

35.728601511074