$425,000
Kingsport, TN 37664
MLS# 9995031
4045 sqft
1 / 36
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.
Details
Maps
Location, Tax & Legal Info
Lot #: 1-
Parcel ID: 062c E 017.00
Block: A
Deed Book #: 3273
Deed Page #: 320
City Taxes: 1563.24
County Taxes: 1503.22
Contract Info
List Price/SqFt: 105.07
Foreclosure: No
Short Sale: No
Auction: No
Status: Active
Listing Price: 425000
Current Price: $425,000
Listing Date: 2026-05-07
General Property Description
Lot Dimensions: 233M X 282M IRR & 75 X 150 IRR
Acres: 1.28
Zoning: R 4
# Buildings: 2
Elementary School: Jefferson
# of Units: 7
Middle School: Robinson
Total Units: 7
High School: Dobyns Bennett
Senior Community YN: No
HOA Y/N: No
Home Warranty: No
Property Sub-Type: Multi Family
Year Built: 1947
Total SqFt: 4045
Remarks & Misc
Public Remarks: 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.
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.
Property Condition
Below Average: 1
Income and Expenses
Annual Operating Expenses: 29773
Vacancy Rate %: 14
Gross Annual Income: 66960
Exterior Finish
Brick: 1
Concrete: 1
Vinyl Siding: 1
Unit 1
# Units: 4
# Bedrooms: 4
# Bathrooms: 4
SqFt: 1420
Monthly Rent: 2700
Unit 2
# Units: 3
# Bedrooms: 6
# Bathrooms: 4
SqFt: 2625
Monthly Rent: 2880
Style
Ranch: 1
Roof
Metal: 1
Heating
Heat Pump: 1
Space Heater: 1
See Remarks: 1
Info Available
Floor Plan: 1
AC
Ceiling Fan(s): 1
Heat Pump: 1
Window Unit(s): 1
Utilities
Electricity Connected: 1
Natural Gas Available: 1
Sewer Connected: 1
Water
Public: 1
Sewer
Public Sewer: 1
Appliances
Electric Range: 1
Refrigerator: 1
Topography/Lot Description
Level: 1
Part Wooded: 1
Rolling Slope: 1
Flooring
Hardwood: 1
Laminate: 1
Luxury Vinyl: 1
Tile: 1
Vinyl: 1
Easements
None: 1
Basement
Block: 1
Concrete: 1
Exterior Entry: 1
Financing
Cash: 1
Conventional: 1
Security Features
Smoke Detector(s): 1
Parking Features
Attached: 1
Gravel: 1
Other Rooms
Workshop: 1
See Remarks: 1
Walls
Drywall: 1
Plaster: 1
Foundation
Block: 1
Slab: 1
Structure Type
Multi Family: 1
Expenses Include
Electric: 1
Heat: 1
Taxes Real Estate: 1
Utilities: 1
Water/Sewer: 1
Location Tax Legal Info
Street #: 4006
Street Name: Memorial
St Suffix: Boulevard
County: Sullivan
State/Province: TN
Zip Code: 37664
Subdivision: Not In Subdivision
Property Features
Property Condition: Below Average
Style: Ranch
Exterior Finish: Brick; Concrete; Vinyl Siding
Appliances: Electric Range; Refrigerator
Security Features: Smoke Detector(s)
Flooring: Hardwood; Laminate; Luxury Vinyl; Tile; Vinyl
Roof: Metal
Other Rooms: Workshop; See Remarks
Parking Features: Attached; Gravel
Heating: Heat Pump; Space Heater; See Remarks
Water: Public
Sewer: Public Sewer
Basement: Block; Concrete; Exterior Entry
Foundation: Block; Slab
AC: Ceiling Fan(s); Heat Pump; Window Unit(s)
Utilities: Electricity Connected; Natural Gas Available; Sewer Connected
Structure Type: Multi Family
Walls: Drywall; Plaster
Info Available: Floor Plan
Easements: None
Financing: Cash; Conventional
Expenses Include: Electric; Heat; Taxes Real Estate; Utilities; Water/Sewer
Listing Office: CENTURY 21 Legacy Fort Henry
Last Updated: May - 07 - 2026
Information deemed reliable but not guaranteed.