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1939 Elk Springs WayGatlinburg, Tennessee TN37738


StatusSold
Sold Date2/16/2022
Bedrooms3
Total Baths3
Full Baths3
SqFt 2,554
CountySevier
SubdivisionElk Springs Resort
Year Built2006
Property TypeResidential
Property Sub TypeSingle Family
Description

"Blackjack" is a fantastic opportunity to purchase a great revenue producing rental cabin in the Smokies. Ideally situated in the Gatlinburg Arts & Crafts community just east of Gatlinburg, the cabin produced a whopping $105,563 in rental revenue for 2021. This does NOT include cleaning fees, taxes, or any other additional fees. It is strictly rental revenue. At the current listing price, the GRM (gross rental multiplier) of the cabin is 7.72 which is far less (better for a buyer) than the current average for cabins sold in Sevier County. The three bedroom, three bath cabin has massive deck space, a soaring ceiling in the family room area with a huge fireplace, theater area, and many recent updates. Included within the updates are the kitchen counters, some furniture, and other items to keep the cabin well maintained for short term rental. The HOA fees of $150 per month are quite possibly the best bang for your buck in all of Sevier County. The $150 HOA fee includes the Xfinity cable/internet and the water. Just those utilities alone are often well above $150 for cabins in our market. Additionally, the cabin offers a rarity for cabins in our market - natural gas through Sevier County Utility District (SCUD). Which is wonderful for the gas fireplace and other gas items such as a grill. If a new owner chose, this property has the capability, which has been explored by the owner, to add a detached indoor pool house to boost the rental income even more and provide an extra amenity to your short term rental guests. The seller has a contractor and design ready for such an endeavor should a new buyer be interested. The property is easily accessed without steep roads near the front of the subdivision and just minutes from downtown Gatlinburg and even closer to the Gatlinburg Arts & Crafts Community on Glades Road. Please note some photos differ from the current exact contents/furniture/TVs within the property and kitchen counters.

Listing courtesy of Smoky Mountain Real Estate Corporation
© 2024 Great Smoky Mountains Association of REALTORS® - Multiple Listing Service (GSMAR). All rights reserved. Information Deemed Reliable But Not Guaranteed. The Information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: Thursday, March 28th, 2024 11:32:31 AM.

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Local Realty Group

114 West Main St
Sevierville, TN 37862
Phone: 865-366-1023
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