BJ Can Help You Purchase This Unit

Thank you for choosing BJ Swinehart! As one of the Knoxville area's premier Real Estate Brokers, I am uniquely qualified to help you find the perfect property. On the lake, around town or out on a farm. Remember, BJ is here to help!

166 Warner Myers Rd, Pennington Gap, 24277

Priced At: $259,500

Property Details for ID: 1348143



SqFt: 0
Price SqFt: n/a
Total Bedrooms: ********
Full Baths: ******** / Half Baths: ********
MLS Status: Active
Property Type: MultiFamily
On Market Date: 2026-07-14T17:23:38Z
Subdivision: Part Of Tract 3

Public Remarks: 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.

Schools Information

Sorry, school information is not available for this listing.

Building Description

Year Built: 1984
Sub-Type: Five or Six Plex
Sale Includes: Building and Land, No Furnishings
Unit Type(s): 1 Bedroom Unit, 2 Bedroom Unit, Unfurnished, Other

  Exterior Features

Features: Windows - Insulated
Construction: Frame
Siding: Vinyl

  Appliances

Dryer, Range, Refrigerator, Washer

  Room Dimensions

  Interior Features

Floors: Carpet, Laminate, Tile, Vinyl
Other Rooms: Other
Misc Features: Internet Available, WasherDryer Connect

  Property Details

Utilities

Fuel Types: Electric

Financing

Finance Options: Cash, Conventional, New Loan
Gross Annual Income: 24,900

  HOA Information

Heating & Cooling

Cooling Type(s): Window Unit(s)
Heat Type(s): Baseboard

Garage / Parking

Off-Street Parking, On Premise Parking

  Community Features

Outbuildings


Presented By: / Century 21 Virginia Wilder Real Estate

Up Coming Open Houses

Sorry, no open houses are currently available for this listing.

Directions

Wilderness Rd to Greenwood Ave to Warner Myers Rd



Your commute

( Departing today at 8:00am )


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Four Reasons to Use BJ Swinehart

Buying or Selling real estate should be fun and simple. With me, that's exactly what you can expect. I will strive to make each and every interaction a professional and pleasant experience!

Marketing Expertise

My marketing expertise will help to make sure that the pictures, public description and website distribution channels will draw potential buyers to your home.

Professional

I Believe that everyone should be treated with the upmost of respect and professionalism combined with the highest level of service.

Skilled Negotiator

I have taken advanced course work and have acquired valuable negotiation skills to provide you with the best outcome.

You Are Valued

I recognize that we are partners with our clients and as such, I strive to provide a high quality of service, and hope to build trust and friendships through honesty and integrity.