Remodeled 7-Unit Opportunity -- Two-Building Complex in Prime Norris Lake Area
Investors, don't miss this turnkey income property with strong upside. This recently updated, two-building, 7-unit complex combines modern finishes with a hassle-free management profile -- ideal for multifamily portfolios or short-term rental operators looking to scale quickly.
Highlights:
- Seven fully renovated units across two buildings, thoughtfully updated for durability and market appeal.
- Immediate cash flow: active rentals in place with attractive historical occupancy; excellent potential to increase rents or convert additional units to short-term stays.
- Outstanding location: minutes from Norris Lake and close to ATV trails, camping, boating and outdoor recreation -- a major draw for vacationers and outdoor enthusiasts.
- Excellent accessibility: conveniently located off the interstate with quick access to Lafollette, TN amenities including shops, dining, and services.
- Investment-friendly pricing designed to facilitate a smooth transaction and fast close.
Why this works for investors:
- Dual use potential -- stable long-term rental income now, with strong seasonal demand for STRs.
- Recent renovations reduce near-term capex and lower maintenance headaches.
- Location draws both local renters and short-term guests year-round thanks to nearby recreation and easy highway access.
This property is priced to move and presents a rare combination of current income, reduced immediate expense, and proven demand drivers. Contact me today to schedule a showing.
Active
$575,000
508 E Central Ave, La Follette, TN 37766
--beds
--baths
4,040sqft
Multi Family
Built in 1930
-- sqft lot
$-- Zestimate®
$142/sqft
$-- HOA
What's special
Minutes from norris lakeModern finishesSeven fully renovated units
- 146 days
- 77
- 17
Zillow last checked:
Listing updated:
Listed by:
Mark Hunter 865-724-8106,
United Real Estate Solutions 865-444-2400
Source: RealTracs MLS as distributed by MLS GRID,MLS#: 3243729
Facts & features
Interior
Heating
- Central, Electric, Other
Cooling
- Central Air, Ceiling Fan(s)
Appliances
- Laundry: Washer Hookup, Electric Dryer Hookup
Features
- Flooring: Tile, Vinyl
Interior area
- Total structure area: 4,040
- Total interior livable area: 4,040 sqft
Property
Lot
- Size: 0.34 Acres
- Dimensions: 100 x 150
Details
- Parcel number: 085K F 00300 000
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame, Vinyl Siding
- Roof: Metal
Condition
- New construction: No
- Year built: 1930
Utilities & green energy
- Utilities for property: Electricity Available
Community & HOA
Location
- Region: La Follette
Financial & listing details
- Price per square foot: $142/sqft
- Tax assessed value: $325,700
- Annual tax amount: $2,715
- Date on market: 6/16/2026
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/16/2026 | Listed for sale | $575,000-8%$142/sqft |
Source: | ||
| 5/14/2026 | Listing removed | $625,000$155/sqft |
Source: | ||
| 4/10/2026 | Price change | $625,000-3.8%$155/sqft |
Source: | ||
| 11/26/2025 | Price change | $650,000-3.7%$161/sqft |
Source: | ||
| 7/24/2025 | Price change | $675,000-3.6%$167/sqft |
Source: | ||
| 2/20/2025 | Listed for sale | $700,000$173/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,715 | $130,280 |
| 2024 | $2,715 -17.1% | $130,280 +33.7% |
| 2023 | $3,275 +75.3% | $97,440 +75.3% |
| 2022 | $1,869 | $55,600 |
| 2021 | $1,869 | $55,600 |
| 2020 | $1,869 | $55,600 |
| 2019 | $1,869 -3.2% | $55,600 +2.1% |
| 2018 | $1,931 +0% | $54,480 |
| 2017 | $1,931 +57.5% | $54,480 |
| 2016 | $1,226 -31.5% | $54,480 |
| 2015 | $1,790 | $54,480 |
| 2014 | $1,790 | $54,480 |
| 2013 | -- | $54,480 +12.8% |
| 2010 | $1,426 | $48,280 |
| 2009 | -- | $48,280 +12.8% |
| 2008 | $1,451 | $42,800 |
| 2007 | $1,451 | $42,800 |
| 2006 | $1,451 | $42,800 |
Find assessor info on the county website
Monthly payment
Est. payment






