1223 Wateree Street
Property Description
Seize the chance to own this centrally located 7-unit multi-family property in Kingsport, TN, offering an excellent return on investment. The complex includes five 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units, all fully occupied with total monthly rents of $7,090. Each unit is equipped with mini-split systems for efficient heating and cooling, ensuring tenant comfort year-round. Additionally, all units feature laundry hook-ups, adding convenience and appeal for residents. Two units have stackable units owned by the landlord. The property has undergone significant upgrades, including a new roof, updated electrical systems, and modernized plumbing. The recent encapsulation of the crawl space further enhances the building's structural integrity and energy efficiency. With a cap rate of 8.3%, this property is a compelling opportunity for investors seeking a stable and profitable asset. Don't miss out on this prime real estate in a vibrant community. Contact us today to schedule a viewing and explore the potential of this outstanding property!
Broker Details
SAXON CLARK REAL ESTATE GROUP 423-765-9118
MLS ID: 33951 State License Number: TN. 369044, VA 0225266068
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $825,000 |
| No. of Units: | 7 |
| Year Built: | 1930 |
| Opportunity Zone: | No |
| Price per unit: | $117,857 |
| Property Website | Click Here |
| Number of Bedrooms: | 3 |
| Number of Bathrooms: | 2 |
ID: 3yd-TVARMLS-9998329
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