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Property Description
Investor, you don't want this one to slip away from you. This property is listed under appraisal (last appraisal was done less than 2 years ago). This is a well-maintained (inside and out) 8 building, 58 unit low housing apartment complex, located within minutes of Lowes, Walmart, Kingsport dog park, Finley Park and many other desirable businesses. Each unit has 2 parking spaces included. Currently, the Johnson City Housing Authority manages the property for $1,400 per mo.; Kingsport Housing Authority does the Section 8 vouchers; tenants sign a 12 month lease and the current monthly rent is $527.00, which includes water; trash is picked up once a week at the front of each unit; property includes a $4,000 20' x 30' still-post tent; 10 units are handicap accessible, but all have the ability to be handicap accessible; Meals On Wheels and KATS come every month; pets are allowed but there is a $150.00 non-refundable deposit for them; each unit has a 3 hour firewall all the way to the ceiling on both sides of the walls; property is currently on a 20 year low income contract and has 18 years left; current tenants are never late on rent; and laundry mat on site which tenants pay to use which has 5 washers and 5 dryers which were purchased in 2017.

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