$1,900,000
$2,150,000
11.6%For more information regarding the value of a property, please contact us for a free consultation.
3800 Memorial Blvd Kingsport, TN 37664
12,721 SqFt
Key Details
Sold Price $1,900,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,721 sqft
Price per Sqft $149
MLS Listing ID 1200540
Sold Date 04/18/23
Originating Board East Tennessee REALTORS® MLS
Year Built 1988
Lot Dimensions 4.7 Acres
Property Description
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.
Location
State TN
County Sullivan County
Rooms
Other Rooms Other
Interior
Heating Other
Cooling Window Unit(s)
Flooring Laminate, Vinyl
Appliance Refrigerator
Heat Source Other
Exterior
Parking Features On Premise Parking, Individual Garages
Garage Description On Premise Parking, Individual Garages
Roof Type Shingle
Garage No
Building
Faces North on TN-93 to RT on TN-126 to property on the LT
Structure Type Block,Frame
Others
Tax ID 062G C 051.00
Energy Description Other Fuel
Acceptable Financing New Loan, Cash, Conventional
Listing Terms New Loan, Cash, Conventional
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