27 Units - Kingsport

Multi-Family for Sale
Catylist Listing ID: 30811708
Property Subtypes: Low-Rise/Garden
Number of Units: 27 Units
Building Size (RSF): 16,834 SF
Gross Building Area: See Agent
Sale Price: $2,200,000
Unit Price: $81,481.48 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/1/2022

Overview / Comments

This well positioned, value-add multifamily community is located just 10 minutes from the heart of downtown Kingsport. There are 7 buildings with a total of 27 units. 22 of the units are studio apartments with 1 bath and 1 large closet. In 2020, roofs were replaced and exteriors were painted. Last year, 8 of the studio apartments were renovated. Three of the remodeled units are currently rented as short term rentals. The buyer will be able to add value by continuing to renovate and increase rents while also implementing RUBs for additional income.

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Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 082062GC05100
Percent Occupied: 100%
Total Number of Buildings: 7
Property Condition: Good
Year Renovated: 2021

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,160 32,939 73,495
Median Age: 42.17 44.51 43.79
Households: 2,570 14,417 31,584


Photograph of Listing Agent

Cohl Morgan

SVN I Wood Properties
Not a member of NETAR CMLS
Photograph of Listing Agent

Jon Roosen

SVN l Wood Properties
Not a member of NETAR CMLS
Photograph of Listing Agent

Kevin Tipton

SVN I Wood Properties
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