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4006 Memorial Boulevard, Kingsport, TN 37664
Property Facts
Property Type: Multi Family
Sub Type: Multi Family
Status: Active
Year Built: 1947
Lot Acreage: 1.28
Lot Dimensions: 233M X 282M IRR & 75 X 150 IRR
City Taxes: $1,563.24
County Taxes: $1,503.22
Elementary School: Jefferson
Middle School: Robinson
High School: Dobyns Bennett
Description
This investment property--including two buildings and seven units--offers immediate rental income. At full capacity, this property provides an 8.7% cap rate and enough land to further develop and add more units for additional future income. With the TDOT road improvements on Hwy 126, the approximate boundary lines already show the new property borders which will change the traffic patterns for the better after the road modifications. Between an unfinished basement and a garage workshop, you'll also have plenty of storage space on site for anything needed for property management. Features to note include a 2yr old metal roof on Building 2, a 5yr old metal roof on Building 1, some plumbing and electrical updates, remodeling in process in 2 vacant units, and current tenants with good rental history. Whether you're already an investor or just stepping into the rental market, this property offers the unique position for established income with growth potential for more. Sale includes both parcels 062C E 017.00 and 062C E 018.00. Buyer(s)/buyer(s) agents to verify all information.
Features & Amenities
- Aerial
- Attached
- Below Average Condition
- Block Basement
- Block Foundation
- Brick Exterior
- Ceiling Fan(s)
- Concrete Basement
- Concrete Exterior
- Drywall Walls
- Electric
- Electric Range
- Electricity Connected
- Exterior Entry Basement
- Floor Plan
- Gravel
- Hardwood Flooring
- Heat
- Heat Pump
- Laminate Flooring
- Leases
- Level Lot
- Luxury Vinyl Flooring
- Metal Roof
- Natural Gas Available
- Part Wooded Lot
- Plaster Walls
- Public Sewer
- Public Water
- Ranch
- Refrigerator
- Rolling Slope Lot
- Sewer Connected
- Slab Foundation
- Smoke Detector(s)
- Space Heater Heating
- Taxes Real Estate
- Tile Flooring
- Utilities
- Vinyl Flooring
- Vinyl Siding Exterior
- Wall Furnace Heating
- Water/Sewer
- Window Unit(s)
- Workshop
Listing Courtesy
CENTURY 21 Legacy Fort Henry