Dudley Creek Apartments — Sale in Gatlinburg, TN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Gatlinburg, TN 37738

Investment Figures

Cap rate
6.95%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale the Dudley Creek Apartments in Gatlinburg, Tennessee. This offering presents a rare value-add opportunity in the Smoky Mountains, one of the most supply-constrained and tourism-driven markets in the region. This six-unit multifamily property offers a practical unit mix of studio, one-bedroom, and two-bedroom apartments in a high-demand location near the Gatlinburg Parkway. The asset provides direct access to the area’s primary employment base, driven by tourism, hospitality, and retail, and benefits from strong long-term rental demand due to a limited supply of workforce housing in a market dominated by short-term rentals. Recent capital improvements, including full electrical rewiring and updated plumbing in the two-story building, help reduce near-term capital needs. Units feature stainless steel appliances, and utilities are individually metered and paid by tenants, supporting an efficient operating profile with low expenses and straightforward management. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Dudley Creek Apartments. Investment Highlights: • Located near the Gatlinburg Parkway, the area's primary employment corridor driven by tourism, hospitality, and retail • Recent capital improvements including full electrical rewiring and updated plumbing in the two-story building • Potential to transition units to short- or medium-term rentals, capitalizing on Gatlinburg's strong tourism demand • Strong long-term rental demand driven by a housing shortage for local work

Market Context

This multifamily in Gatlinburg, TN is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 87 days. Compare it against other multifamily listings for sale in Gatlinburg, TN — view the full market.

Contact

Explore this market

Similar Multifamily Property for Sale in Gatlinburg, TN