$1,100,000
$1,172,000
6.1%For more information regarding the value of a property, please contact us for a free consultation.
407 North Fourth St Kingston, TN 37763
12,870 SqFt
Key Details
Sold Price $1,100,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,870 sqft
Price per Sqft $85
MLS Listing ID 1232513
Sold Date 09/15/23
Originating Board East Tennessee REALTORS® MLS
Year Built 1973
Lot Dimensions 152x146
Property Description
Located in the heart of downtown Kingston, this 16 unit building has been carefully maintained by its long time owner. The 16 units are made up of 8 one bedroom one bath floorplan and 8 two bedroom units 1.5 bath floorplan. These have a long track record of being 100% leased with a waiting list and are currently leased for $895/mth for 2BR and $695/mth for 1BR. 2 bedroom units have recent rebuilt expansive decks across the back of the building for outdoor enjoyment. All units are offered unfurnished with nice appliance packages. On-site laundry available if tenant chooses not to provide their own washer/dryer. All leases along with full year financials for 2022 and year to date 2023 are available upon request for qualified buyers. Current asking price is at 7 cap rate based on 2022 income/expenses. Great opportunity to get into the rental property mkt with a well maintained & successful property.
Location
State TN
County Roane County - 31
Rooms
Other Rooms Other
Interior
Interior Features Pantry
Heating Central, Baseboard, Electric
Cooling Other
Flooring Carpet, Vinyl, Other
Appliance Dishwasher, Smoke Detector, Refrigerator
Heat Source Central, Baseboard, Electric
Exterior
Exterior Feature Windows - Dble Pane
Parking Features On Premise Parking, Attached, Off-Street Parking
Garage Description Attached, Off-Street Parking, On Premise Parking, Attached
Roof Type Shingle
Garage No
Building
Faces I-40 to Kingston exit-turn toward downtown on East Kentucky go approx. 2 miles to Lt Spring Street to units at top of the hill on Lt
Structure Type Brick
Others
Restrictions No
Tax ID 058BG006.0
Energy Description Electric
Acceptable Financing New Loan, Cash
Listing Terms New Loan, Cash
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