3183 Tiffany Court, Kingsport, TN 37663

Description

Please note information in fields are based off Duplex Tax Parcel number 106H B 025.00. Scroll to bottom for totals. Rare opportunity to acquire a 38-unit multifamily portfolio consisting of multiple apartment buildings, townhomes and brick duplexes, along with additional land offering potential for future development and increased income. The portfolio includes two 8-unit apartment buildings, a 6-unit building, 12 townhouse-style units, and 4 address 2 brick duplex units, providing a diverse mix of rental options. The two 8-unit buildings, located at addresses 1001 through 1015 and 1017 through 1031, offer a combination of one- and two-bedroom apartments. The two-bedroom units feature 1.5 baths. The 6-unit property at Tiffany Court, addresses 3152 through 3162, provides additional rental opportunities. Unit 3160 is currently being utilized for storage but could potentially be converted back to an income-producing apartment, subject to any applicable approvals or requirements. The 12-unit townhouse property at Tiffany Court, addresses 3101 through 3123, features 2-bedroom, 1.5-bath townhouse-style units. Water is not included in the rent for these units. Completing the portfolio are the brick duplex units located at Tiffany Court, addresses 3183, 3185, 3187, and 3189, situated toward the rear of the property with a circle driveway. These units feature metal roofs and 1 bathroom per unit. The duplexes are the only units in the portfolio served by septic systems rather than city sewer, and water is not included in their rent. Currently, units at addresses 3154 and 3185 are occupied by family and are not producing rental income, creating additional potential for a future owner to increase gross rental income. Adding even more value to this offering are one vacant land/development areas included with the sale, providing potential opportunities for additional units and future income, subject to zoning, permitting and governmental approval. The portfolio encompasses approximately 34,335 square feet of building space based on available property information, plus additional land. With 38 existing units, multiple building types, additional income potential from currently non-producing units, and land offering possible future development, this is an opportunity for an investor to acquire a substantial multifamily portfolio in one transaction. Property is being offered and sold as one multifamily investment portfolio. Buyer/Buyer's Agent to verify all information, including square footage, unit counts/configurations, utilities, septic/sewer, zoning, development potential, taxes, rental information and any other information deemed important. Parcel 06A C 001.60 -- Vacant land/development area -- approximately 0.82 acre Parcel 106A C 001.50 -- addresses 1001 through 1015 -- 8 units Parcel 106A C 001.40 -- addresses 1017 through 1031 -- 8 units Parcel 106H B 021.00 -- addresses 3152 through 3162, Tiffany Court -- 6 units Parcel 106H B 030.00 -- addresses 3101 through 3123, Tiffany Court -- 12 townhouse units Parcel 106H B 025.00 -- addresses 3183, 3185, 3187, and 3189, Tiffany Court -- 4 duplex units Total annual property taxes: $29,161.22 Approximate total building area: 34,335 square feet