3800 Memorial Blvd, Kingsport, TN 37664
$1,900,000
Property Type:
Multi-Family
Square Footage:
12,721
Status:
Closed
Current Price:
$1,900,000
List Date:
7/26/2022
Last Modified:
4/20/2023
Overview
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.
Listing Details MLS# 1200540
Location Tax Legal Info
- House #
- 3800
- Street Name
- Memorial
- St Suffix
- Blvd
- State/Province
- TN
- Zip Code
- 37664
- PIN #
- 062G C 051.00
Contract Info
- Auction Y/N
- No
- Listing Price
- 2150000
General Property Description
- SqFt – Total (Aprox)
- 12721
- Lot Dimensions
- 4.7 Acres
- Number of Units
- 27
- Utilities/Mo Avg
- 1540.5
- Year Built
- 1988
- Property Status
- N/A
- Driveway
- Paved
- Lease Information
- 1 Yr – Mo to Mom
Status Change Info
- Status Change Date
- 2023-04-20
- Under Contract Date
- 2022-12-17
- Sold Date
- 2023-04-18
Location, Tax & Legal Info
- Area
- Sullivan County
- City/County Code
- County
- Total Tax
- 13167
Remarks & Misc
- Directions
- North on TN-93 to RT on TN-126 to property on the LT
- Public Remarks
- 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.
More Information
Property Sub-Type
- Apartment
- Yes
Construction
- Block
- Yes
- Frame
- Yes
Type of Units
- Efficiency Unit
- Yes
- 2 Bedroom Unit
- Yes
Sale Includes
- Some Furnishings
- Yes
Cooling
- Window Unit(s)
- Yes
Floors
- Laminate
- Yes
- Vinyl
- Yes
Garage/Parking
- Individual Garages
- Yes
- On Premise Parking
- Yes
Owner Expenses
- Advertising
- Yes
- Insurance
- Yes
- Lawn Maintenance
- Yes
- Sewer
- Yes
- Taxes
- Yes
- Water
- Yes
Fuel
- Other Fuel
- Yes
Heat
- Other
- Yes
Appliances
- Range
- Yes
- Refrigerator
- Yes
Other Rooms
- Other
- Yes
Roof
- Shingle
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
- New Loan
- Yes
Showing
- See Agent Instructns
- Yes
Property Features
Property Sub-Type:
Apartment
Type of Units:
Efficiency Unit; 2 Bedroom Unit
Sale Includes:
Some Furnishings
Floors:
Laminate; Vinyl
Owner Expenses:
Advertising; Insurance; Lawn Maintenance; Sewer; Taxes; Water
Fuel:
Other Fuel
Heat:
Other
Cooling:
Window Unit(s)
Appliances:
Range; Refrigerator
Construction:
Block; Frame
Roof:
Shingle
Other Rooms:
Other
New Financing:
Cash; Conventional; New Loan
Showing:
See Agent Instructns
Listing Office:
SVN I Wood Properties
IDX
Office Phone: 865-936-9999
Last Updated: April – 20 – 2023
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