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4006 Memorial Boulevard
Kingsport TN 37664
MLS #9995031 · Listing Courtesy of CENTURY 21 Legacy Fort Henry
$425,000
Active
1.28
Acres
1947
Built
Property 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.
Property Facts
Property TypeMulti Family
Sub TypeMulti Family
MLS Number9995031
Lot Dimensions233M X 282M IRR & 75 X 150 IRR
City Taxes$1,563.24
County Taxes$1,503.22
Elementary SchoolJefferson
Middle SchoolRobinson
High SchoolDobyns Bennett
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
Directions
From the intersection of Hwy 93/John B Dennis Hwy and Hwy 126/Memorial Blvd, travel .6 miles east towards Cooks Valley. Apartments will be on your left, adjacent to Amy Avenue.
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Additional Information
Contract InfoForeclosureNoEasementsNoneYesGeneral Property Description# Buildings2# of Units7HOANoHome WarrantyNoSenior CommunityNoTotal Units7ZoningR 4HeatingSee RemarksYesIncome and ExpensesAnnual Operating Expenses29,773Gross Annual Income66,960Vacancy Rate %14Info AvailableOtherYesLocation Tax Legal InfoBlockADeed Book #3,273Deed Page #320Lot #-1Other RoomsSee RemarksYesStructure TypeMulti FamilyYesUnit 1# Bathrooms4# Bedrooms4# Units4Monthly Rent2,700SqFt1,420Unit 2# Bathrooms4# Bedrooms6# Units3Monthly Rent2,880SqFt2,625Unit 3# Units0Unit 4# Units0
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