508 E Central Ave
La Follette, TN 37766
- Studio
- 4,040 sqft (on 0.34 acres)
Studio
4,040 sqft
(on 0.34 acres)
We estimate this home will sell faster than 89% nearby.
Local Information
-- mins to
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.
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
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MLS Status: Active |
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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 |
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Exterior Home Features Roof: MetalNo Private Pool |
Parking & Garage No Attached Garage |
Frontage Not on Waterfront |
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Days on Market: 6 |
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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 |
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Price List Price: $575,000Price Per Sqft: $142 |
Status Change & Dates Possession Timing: Close Of Escrow |
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Direction & Address City: La Follette |
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Listing Agent Listing ID: 3243729 |
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Building Area Building Area: 4040 Square Feet |
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Not Senior Community |
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Lot Area: 0.34 acres |
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Special Conditions: Standard |
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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
Avg. sale price
—
Sale-to-List Price
—
Price per sq ft
—
Available listings
143
13MoM
Price History for 508 E Central Ave
| Date | Price | Event | Source |
|---|---|---|---|
| 06/16/2026 | $575,000 | Listed For Sale | East Tennessee Realtors #1344805 |
| 05/14/2026 | $625,000 | ListingRemoved | East Tennessee Realtors #1290602 |
| 04/10/2026 | $625,000 | PriceChange | East Tennessee Realtors #1290602 |
| 11/26/2025 | $650,000 | PriceChange | East Tennessee Realtors #1290602 |
| 07/24/2025 | $675,000 | PriceChange | East Tennessee Realtors #1290602 |
| 02/20/2025 | $700,000 | Listed For Sale | East Tennessee Realtors #1290602 |
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Property Tax and Assessment
| Year | 2025 |
|---|---|
| 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.Assigned Schools
These are the assigned schools for 508 E Central Ave.
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.
LGBTQ Local Legal Protections
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.

