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1223 Wateree Street
Kingsport TN 37660
MLS #9998329 · Listing Courtesy of Weichert Realtors Saxon Clark KPT
$825,000
Active
0.26
Acres
1930
Built
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!
Property Facts
Property TypeMulti Family
Sub TypeMulti Family
MLS Number9998329
Lot Dimensions137.83 X 78.28 IRR
City Taxes$1,498.73
County Taxes$1,804.65
Elementary SchoolLincoln
Middle SchoolSevier
High SchoolDobyns Bennett
Features & Amenities
Brick Exterior
Dishwasher
Electric Dryer Hookup
Electric Range
Hardwood Flooring
Level Lot
Metal Roof
Public Water
Refrigerator
Traditional
Two-Level
Washer Hookup
Directions
From Eastman Road follow Fort Henry Drive to Left on E Center St. Follow E. Center Street to right on Wateree St. Follow Wateree St. to the property on the left at the corner of Wateree and Oak St.
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Additional Information
ACSee RemarksYesContract InfoForeclosureNoEasementsNoneYesGeneral Property Description# Buildings1HOANoStories2Total Units7ZoningR 1BHeatingSee RemarksYesLocation Tax Legal InfoBlock109Deed Book #3,633Deed Page #2,918Lot #10Structure TypeMulti FamilyYesUnit 1# Bathrooms1# Bedrooms1# Units5Monthly Rent4,600Unit 2# Bathrooms1# Bedrooms2# Units2Monthly Rent2,490Unit 3# Units0Unit 4# Units0
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