3800 Memorial Blvd, Kingsport, TN 37664
$1,900,000
Property Type:
Multi-Family
Square Footage:
12,721
Status:
Closed
Current Price:
$1,900,000
List Date:
7/26/2022
Last Modified:
4/20/2023
Description
This well positioned, value-add multifamily community is located just 10 minutes from the heart of downtown Kingsport. There are 7 buildings with a total of 27 units. 22 of the units are studio apartments with 1 bath and 1 large closet. In 2020, roofs were replaced and exteriors were painted. Last year, 8 of the studio apartments were renovated. Three of the remodeled units are currently rented as short term rentals. The buyer will be able to add value by continuing to renovate and increase rents while also implementing RUBs for additional income.
More Information MLS# 1200540
Location, Tax & Legal Info
Area: Sullivan County
City/County Code: County
Total Tax: 13167
Contract Info
Auction Y/N: No
Listing Price: 2150000
Current Price: $1,900,000
Status: Closed
Listing Date: 2022-07-23
General Property Description
Lot Dimensions: 4.7 Acres
Utilities/Mo Avg: 1540.5
Property Status: N/A
Driveway: Paved
Lease Information: 1 Yr - Mo to Mom
SqFt - Total (Aprox): 12721
Number of Units: 27
Year Built: 1988
Remarks & Misc
Directions: North on TN-93 to RT on TN-126 to property on the LT
Public Remarks: This well positioned, value-add multifamily community is located just 10 minutes from the heart of downtown Kingsport. There are 7 buildings with a total of 27 units. 22 of the units are studio apartments with 1 bath and 1 large closet. In 2020, roofs were replaced and exteriors were painted. Last year, 8 of the studio apartments were renovated. Three of the remodeled units are currently rented as short term rentals. The buyer will be able to add value by continuing to renovate and increase rents while also implementing RUBs for additional income.
Property Sub-Type
Apartment: 1
Construction
Block: 1
Frame: 1
Type of Units
Efficiency Unit: 1
2 Bedroom Unit: 1
Sale Includes
Some Furnishings: 1
Cooling
Window Unit(s): 1
Floors
Laminate: 1
Vinyl: 1
Garage/Parking
Individual Garages: 1
On Premise Parking: 1
Owner Expenses
Advertising: 1
Insurance: 1
Lawn Maintenance: 1
Sewer: 1
Taxes: 1
Water: 1
Fuel
Other Fuel: 1
Heat
Other: 1
Appliances
Range: 1
Refrigerator: 1
Other Rooms
Other: 1
Roof
Shingle: 1
New Financing
Cash: 1
Conventional: 1
New Loan: 1
Showing
See Agent Instructns: 1
Location Tax Legal Info
House #: 3800
Street Name: Memorial
St Suffix: Blvd
State/Province: TN
Zip Code: 37664
PIN #: 062G C 051.00
Geo Lat: 36.530579
Geo Lon: -82.502786
Status Change Info
Status Change Date: 2023-04-20
Under Contract Date: 2022-12-17
Sold Date: 2023-04-18
Sold Price: $1,900,000
Property Features
Property Sub-Type: Apartment
Type of Units: Efficiency Unit; 2 Bedroom Unit
Sale Includes: Some Furnishings
Floors: Laminate; Vinyl
Owner Expenses: Advertising; Insurance; Lawn Maintenance; Sewer; Taxes; Water
Fuel: Other Fuel
Heat: Other
Cooling: Window Unit(s)
Appliances: Range; Refrigerator
Construction: Block; Frame
Roof: Shingle
Other Rooms: Other
New Financing: Cash; Conventional; New Loan
Showing: See Agent Instructns
Listing Office: SVN I Wood Properties
Office Phone: 865-936-9999
Last Updated: April - 20 - 2023
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved.
IDX information is provided exclusively for consumers' personal, non-commercial use,
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