Basic Information:

Bedrooms: 0

Full Bathrooms: 0

Half Bathrooms: 0

Type: Multi Family

Sub Type: Multi Family

MLS Number: 9980521

Lot Acreage: 0.34000

Living Area: 0

Year Built:1939

Elementary School: Fairmount

Middle School: Vance

High School: Tennessee

Public Remarks: This turn-key multifamily property features two beautifully renovated spaces, offering a fantastic investment opportunity in a desirable location. The main home, a 1939 bungalow, boasts timeless appeal with modern touches. Enjoy open-concept living with a brick fireplace, new flooring, and a stunning kitchen with stainless-steel appliances and butcher block countertops. Three bedrooms, including a primary suite with en suite bath, offer comfortable living. Two covered porches provide breathtaking city views. The guest house, situated behind the main home, is a spacious retreat with a large garage, full kitchen, and two bedrooms. Additional features include: Renovated full bath New appliances and fixtures throughout New carpet in bedrooms Spacious living room Recent updates include a new roof, HVAC, and electrical system, minimizing future maintenance for the new owner. Financial Highlights: Annual Revenue: $32,400 ($1,500 x 12 for the front unit + $1,200 x 12 for the rear unit) Monthly Revenue: $2,700 Expenses: Insurance: $600 annually Taxes: $700 annually Maintenance: $1,620 (5% of annual revenue) Total: $2,920 annually Assumptions: 5% vacancy rate factored into revenue calculations Tenants cover utilities (electric, water, and trash) Cap Rate: 7%, indicating a desirable return for the area Valuation: Based on the 7% cap rate, the property is valued at approximately $400,000 Located just minutes from downtown Bristol, with easy access to King University, the Paramount Center for the Arts, and Steele Creek Park. Both units are on one-year leases, providing a stable income stream for the new owner.

Listing Courtesy:eXp Realty, LLC

More Listing Info:

AC:Central Air: true

Amenities:Landscaping: true

Appliances:Electric Range: true

Appliances:Refrigerator: true

Basement:Concrete3: true

Contract Info:Foreclosure: No

Easements:None12: true

Exterior Finish:Block5: true

Exterior Finish:Masonite: true

Exterior Finish:Vinyl Siding: true

Flooring:Carpet: true

Flooring:Luxury Vinyl: true

Foundation:Block6: true

General Property Description:# Buildings: 2

General Property Description:# Fireplaces: 1

General Property Description:# of Units: 2.0

General Property Description:Acres: 0.34

General Property Description:Elementary School3: Fairmount

General Property Description:High School3: Tennessee

General Property Description:HOA YN: No

General Property Description:Lot Dimensions: 100 X 150

General Property Description:Middle School2: Vance

General Property Description:Stories2: 2

General Property Description:Total Units: 2

General Property Description:Zoning2: Residential

Heating:Central: true

Info Available:Floor Plan: true

Info Available:Rental Rolls: true

Interior Features:Built-in Features: true

Interior Features:Remodeled: true

Interior Features:Restored: true

Levels:Two: true

Location Tax Legal Info:Block: 37

Location Tax Legal Info:City Taxes: 382.5

Location Tax Legal Info:County Taxes: 424.35

Location Tax Legal Info:Deed Book #: 3618

Location Tax Legal Info:Deed Page #: 2024

Location Tax Legal Info:Lot #: 25

Other Rooms:Laundry: true

Other Rooms:Primary Bathroom: true

Other Rooms:Primary Bedroom: true

Parking Features:Asphalt2: true

PorchPatioDeck:Front Porch: true

PorchPatioDeck:Rear Porch: true

Property Condition:Above Average: true

Property Condition:UpdatedRemodeled: true

Remarks Misc:Directions3: Turn left onto Hwy 11 E Keep left to continue on US-11E N/Hwy 11 E Take the TN-394 exit toward TN-390/Bluff City/Blountville/Bristol Dragway Turn right onto TN-394 E (signs for Bluff City/TN-390 S) Turn left onto Carl Moore Pkwy Continue onto Virginia Ave

Remarks Misc:Public Remarks2: This turn-key multifamily property features two beautifully renovated spaces, offering a fantastic investment opportunity in a desirable location. The main home, a 1939 bungalow, boasts timeless appeal with modern touches. Enjoy open-concept living with a brick fireplace, new flooring, and a stunning kitchen with stainless-steel appliances and butcher block countertops. Three bedrooms, including a primary suite with en suite bath, offer comfortable living. Two covered porches provide breathtaking city views. The guest house, situated behind the main home, is a spacious retreat with a large garage, full kitchen, and two bedrooms. Additional features include: Renovated full bath New appliances and fixtures throughout New carpet in bedrooms Spacious living room Recent updates include a new roof, HVAC, and electrical system, minimizing future maintenance for the new owner. Financial Highlights: Annual Revenue: $32,400 ($1,500 x 12 for the front unit + $1,200 x 12 for the rear unit) Monthly Revenue: $2,700 Expenses: Insurance: $600 annually Taxes: $700 annually Maintenance: $1,620 (5% of annual revenue) Total: $2,920 annually Assumptions: 5% vacancy rate factored into revenue calculations Tenants cover utilities (electric, water, and trash) Cap Rate: 7%, indicating a desirable return for the area Valuation: Based on the 7% cap rate, the property is valued at approximately $400,000 Located just minutes from downtown Bristol, with easy access to King University, the Paramount Center for the Arts, and Steele Creek Park. Both units are on one-year leases, providing a stable income stream for the new owner.

Roof:Shingle: true

Sewer:Public Sewer: true

Showing Instructions:Showing Service: true

Structure Type:House: true

Structure Type:Multi Family: true

Style:Bungalow2: true

Style:See Remarks40: true

TopographyLot Description:Rolling Slope: true

Unit 1:# Bathrooms5: 1.0

Unit 1:# Bedrooms3: 3

Unit 1:# Units: 1

Unit 1:Monthly Rent: 1500

Unit 1:SqFt6: 1728

Unit 2:# Bathrooms4: 1.0

Unit 2:# Bedrooms4: 2

Unit 2:# Units2: 1

Unit 2:Monthly Rent2: 1200

Unit 2:SqFt5: 1050

Utilities:Electricity Connected: true

Utilities:Sewer Connected: true

Utilities:Water Connected: true

Walls:Drywall: true

Water:Public: true