893 New Beason Well Rd, Kingsport, TN 37660
$6,120,000
Property Type:
Multi-Family
Square Footage:
78,524
Status:
Active
Current Price:
$6,120,000
List Date:
3/10/2025
Last Modified:
5/06/2025
Description
Located in Kingsport, TN, Beason Well was built in 2003 and is comprised of 72 units. This affordable apartment community is 96% occupied and has a unit mix consisting of 2 and 3 bedroom units. Community amenities include on-site maintenance, a playground, breakfast/concierge area, and a picnic area. Each unit has washer / dryer hookups. Current average effective rent figures are at a 15% deficit of what could be collected if max rents were being charged.
This property is part of a 148 unit, three property LIHTC portfolio being sold in East Tennessee.
More Information MLS# 1292219
Location Tax Legal Info
House #: 893
Street Name: New Beason Well
St Suffix: Rd
State/Province: TN
Zip Code: 37660
PIN #: 031040.50
Geo Lat: 36.561216
Geo Lon: -82.490819
Contract Info
Auction Y/N: No
Listing Price: 6120000
Current Price: $6,120,000
Status: Active
Listing Date: 2025-03-06
General Property Description
SqFt - Total (Aprox): 78524
Lot Dimensions: n/a
Number of Units: 72
# Units Leased: 67
Utilities/Mo Avg: 4941.11
Year Built: 2003
Property Status: N/A
Driveway: Paved
Status Change Info
Status Change Date: 2025-03-06
Property Features
Property Sub-Type: Apartment
Type of Units: 2 Bedroom Unit; 3 or more Bdrm Units
Sale Includes: Building and Land
Floors: Laminate; Vinyl
Fuel: Other Fuel
Heat: Central
Cooling: Central Cooling
Construction: Frame - Brick
Roof: Shingle
Other Rooms: Other
Miscellaneous: Patio; Playparks
New Financing: Cash; Conventional; New Loan
Showing: See Agent Instructns
Listing Office: SVN I Wood Properties
Last Updated: May - 06 - 2025
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