508 E  Central Ave, La Follette, TN 37766
FOR SALE
0.34 ACRES

508 E Central Ave
La Follette, TN 37766

  • Studio
  • 4,040 sqft (on 0.34 acres)

$575,000

Est. Mortgage $3,122/mo*

$575,000

Est. Mortgage $3,122/mo*
Studio
4,040 sqft
(on 0.34 acres)
We estimate this home will sell faster than 89% nearby.

Local Information

  • Map ViewExplore the area around 508 E Central Ave.
  • Schools7 Preschool Schools8 Elementary Schools6 Middle Schools2 High Schools
  • Shop & Eat
-- mins to
Commute Destination

Description

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, 8-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:
- Eight 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.
We estimate this home will sell faster than 89% nearby.

Home Highlights

Parking
No Info
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
$142
Listed
6 days ago

Home Details for 508 E Central Ave

Active Status

MLS Status: Active

Interior Features

Dimensions and Layout
Living Area: 4040 Square Feet
Appliances & Utilities
Utilities: Electricity AvailableLaundry: Washer Hookup,Electric Dryer Hookup
Heating & Cooling
Heating: Central,Electric,OtherHas CoolingAir Conditioning: Central Air,Ceiling Fan(s)Has HeatingHeating Fuel: Central
Gas & Electric
Has Electric on Property
Windows, Doors, Floors & Walls
Flooring: Tile, Vinyl
Levels, Entrance, & Accessibility
Floors: Tile, Vinyl
View
No View

Exterior Features

Exterior Home Features
Roof: MetalNo Private Pool
Parking & Garage
No Attached Garage
Frontage
Not on Waterfront

Days on Market

Days on Market: 6

Property Information

Year Built
Year Built: 1930
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Multi Family
Building
Construction Materials: Frame, Vinyl SidingNot a New Construction
Property Information
Parcel Number: 085K F 00300 000

Price & Status

Price
List Price: $575,000Price Per Sqft: $142
Status Change & Dates
Possession Timing: Close Of Escrow

Location

Direction & Address
City: La Follette

Agent Information

Listing Agent
Listing ID: 3243729

Building

Building Area
Building Area: 4040 Square Feet

Community

Not Senior Community

Lot Information

Lot Area: 0.34 acres

Listing Info

Special Conditions: Standard

Miscellaneous

Mls Number: 3243729Attribution Contact: 8657248106
Last check for updates: about 3 hours ago
Listing Provided by: Mark Hunter, (865) 724-8106
United Real Estate Solutions, (865) 444-2400
Source: RealTracs MLS as distributed by MLS GRID, MLS#3243729

Market trends in Lafollette

Last updated May 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
Sale-to-List Price
Price per sq ft
Available listings
143
13
MoM

Price History for 508 E Central Ave

DatePriceEventSource
06/16/2026$575,000Listed For SaleEast Tennessee Realtors #1344805
05/14/2026$625,000ListingRemovedEast Tennessee Realtors #1290602
04/10/2026$625,000PriceChange
East Tennessee Realtors #1290602
11/26/2025$650,000PriceChange
East Tennessee Realtors #1290602
07/24/2025$675,000PriceChange
East Tennessee Realtors #1290602
02/20/2025$700,000Listed For SaleEast Tennessee Realtors #1290602

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Property Tax and Assessment

Year2025
Tax$2,715
Assessment$325,700
Home facts updated by county records

Comparable Sales for 508 E Central Ave

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
6.46
Multi-Family Home
$354,900
05/22/26
-
4,650
6.49
Multi-Family Home
$610,000
11/03/25
14
8
6,260

Nearby homes

Get a sense of prices in the area by checking nearby homes.
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Assigned Schools

These are the assigned schools for 508 E Central Ave.
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

What Locals Say about Lafollette

At least 26 Trulia users voted on each feature.
  • 88 % Say car is needed

  • 85 % Say yards are well-kept

  • 80 % Say there's holiday spirit

  • 77 % Say parking is easy

  • 64 % Say neighbors are friendly

  • 63 % Say people would walk alone at night

  • 62 % Say it's dog friendly

  • 62 % Say kids play outside

  • 55 % Say there's wildlife

  • 50 % Say it's quiet

  • 46 % Say they plan to stay for at least 5 years

  • 44 % Say it's walkable to grocery stores

  • 40 % Say streets are well-lit

  • 39 % Say it's walkable to restaurants

  • 31 % Say there are sidewalks

  • 28 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Lynn
    "Food festivals and weekend flea/farmer’s markets. Bluegrass music events, along with gospel music, and Car shows"
  • Lindsay D.
    "parks and lakeside parks and pull offs but there are no dog parks ... not really anywhere substantial to take your dogs and let them run "
  • Joe A. D. G.
    "Hospital across street, restaurants and shopping only minutes away, close to my work, friendly neighbors"
  • Aaron_betzner_57
    "Gated community for vacations and rentals. Most are from Ohio and properties aren’t full-time residences. "
  • Chris L.
    "Nice quite town to raise a family in. Safe, Clean, Crime free, Lake Access, Good school system. Affordable and Convenient. "

LGBTQ Local Legal Protections

Mark Hunter, United Real Estate Solutions, (865) 444-2400
Agent Phone: (865) 724-8106
Based on information submitted to the MLS GRID as of 2026-06-22 14:03:32 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information
508 E Central Ave, La Follette, TN 37766 is a studio, 4,040 sqft multi-family built in 1930. This property is currently available for sale and was listed by RealTracs MLS as distributed by MLS GRID on Jun 16, 2026. The MLS # for this home is MLS# 3243729.