1433 Stratford Road
- 11-Unit Stabilized Multifamily Asset
- Fully Renovated – Approx. $250k+ in CapEx Completed
- Unit Mix: 1 × 3BR / 2BA, 4 × 1BR / 1BA. 6 × 2BR / 1BA
- Electrical Separately Metered
- Water & Trash Billed Back to Tenants
- Turnkey Operations with Minimal Near-Term CapEx
- Opportunity for Future Rent Growth
- Located in a Growing Kingsport Market with Limited Inventory
Property Description
SVN | Accel Commercial Real Estate is pleased to present Magnolia Ridge Apartments, an 11-unit multifamily investment opportunity located at 1433 Stratford Road in Kingsport, Tennessee. This fully renovated and stabilized asset offers immediate in-place cash flow with continued upside through future rent growth in a market experiencing strong demand and limited multifamily inventory. Magnolia Ridge features a balanced unit mix of: (1) 3BR / 2BA (4) 1BR / 1BA (6) 2BR / 1BA All units are separately metered for electricity, with water and trash billed back to tenants, providing operational efficiency and expense recovery. Ownership has invested approximately $250,000+ in capital improvements, delivering a true turnkey opportunity. Renovations include new flooring, fixtures, appliances, interior and exterior paint, upgraded electrical and plumbing systems, water heater replacements, windows, patio doors, pavement improvements, enhanced site lighting, security cameras, gutter guards, and full bathroom upgrades. With major capital improvements completed and the asset stabilized, Magnolia Ridge presents investors with a low-maintenance opportunity featuring durable cash flow and embedded rental upside in a supply-constrained Tri-Cities market.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,149,999 |
| No. of Units: | 11 |
| Year Built: | 1971 |
| Lot Size: | 0.44 Acres |
| Opportunity Zone: | No |
| Price per unit: | $104,545 |
| Property Website | Click Here |
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