$800,000
Kingsport, TN 37660
MLS# 9985788
8253 sqft
1 / 61
Property Description
Unlock the potential of this income-producing apartment building in the heart of Kingsport! Featuring 8 total units, this property offers a versatile mix of floor plans to attract a variety of tenants: (2) spacious 3-bed/1-bath units (4) comfortable 2-bed/1-bath units, (2) efficient 1-bed/1-bath units All units are currently 100% occupied by long-term tenants, providing stable cash flow with significant upside potential through future rent increases. The property is in an excellent location directly across from Eastman Headquarters, ensuring strong demand and long-term security. That's not all—an additional 421 sq. ft. storage area provides extra income potential or utility space for tenants. Each apartment comes with its own individual power meter, while city water, sewer, and schools make management simple. Tenants will also appreciate the ample on-site parking, a rare and valuable convenience for multi-family living. Whether you're an experienced investor looking to expand your portfolio or just starting out in real estate investing, this property offers a solid opportunity with long-term rental demand. Schedule your showing today and see why 420 Wheatley Street is the smart move for your investment future!
Details
Maps
Location, Tax & Legal Info
Lot #: PT 5
Parcel ID: 061g A 022.00
Block: 6
Deed Book #: 3639
Deed Page #: 949
City Taxes: 2149.37
County Taxes: 2684.91
Contract Info
List Price/SqFt: 96.93
Foreclosure: No
Short Sale: No
Auction: No
Status: Active
Listing Price: 800000
Current Price: $800,000
Listing Date: 2025-09-15
General Property Description
Lot Dimensions: 177x133
Acres: 0.57
Zoning: R 4
# Buildings: 1
Elementary School: Lincoln
# of Units: 8
Middle School: Sevier
Total Units: 8
High School: Dobyns Bennett
Stories: 2
HOA Y/N: No
Property Sub-Type: Multi Family
Year Built: 1971
Total SqFt: 8253
Remarks & Misc
Public Remarks: Unlock the potential of this income-producing apartment building in the heart of Kingsport! Featuring 8 total units, this property offers a versatile mix of floor plans to attract a variety of tenants: (2) spacious 3-bed/1-bath units (4) comfortable 2-bed/1-bath units, (2) efficient 1-bed/1-bath units
All units are currently 100% occupied by long-term tenants, providing stable cash flow with significant upside potential through future rent increases. The property is in an excellent location directly across from Eastman Headquarters, ensuring strong demand and long-term security.
That's not all—an additional 421 sq. ft. storage area provides extra income potential or utility space for tenants.
Each apartment comes with its own individual power meter, while city water, sewer, and schools make management simple. Tenants will also appreciate the ample on-site parking, a rare and valuable convenience for multi-family living.
Whether you're an experienced investor looking to expand your portfolio or just starting out in real estate investing, this property offers a solid opportunity with long-term rental demand.
Schedule your showing today and see why 420 Wheatley Street is the smart move for your investment future!
Directions: From Johnson City, take I-26 W toward Kingsport. Continue for approximately 20 miles, then take Exit 1 for Wilcox Drive toward TN-126/Center Street. Turn right onto Wilcox Drive, then continue straight. Turn left onto Wheatley Street. Property will be on the right.
Property Condition
Average: 1
Exterior Finish
Brick: 1
Unit 1
# Units: 2
# Bedrooms: 3
# Bathrooms: 1
SqFt: 2400
Unit 2
# Units: 2
# Bedrooms: 1
# Bathrooms: 1
SqFt: 1400
Style
See Remarks: 1
Roof
Shingle: 1
Unit 3
# Units: 4
# Bedrooms: 2
# Bathrooms: 1
SqFt: 4032
Levels
Two: 1
Unit 4
# Units: 1
SqFt: 421
Heating
Heat Pump: 1
Info Available
Leases: 1
Rental Rolls: 1
AC
Ceiling Fan(s): 1
Heat Pump: 1
Water
Public: 1
Sewer
Public Sewer: 1
Appliances
Electric Range: 1
Microwave: 1
Refrigerator: 1
Topography/Lot Description
Level: 1
Flooring
Carpet: 1
Laminate: 1
Tile: 1
Easements
See Remarks: 1
Financing
Cash: 1
Conventional: 1
Parking Features
Asphalt: 1
Other Rooms
Utility Room: 1
Walls
Drywall: 1
Foundation
Block: 1
Structure Type
Multi Family: 1
Location Tax Legal Info
Street #: 420
Street Name: Wheatley
St Suffix: Street
County: Sullivan
State/Province: TN
Zip Code: 37660
Property Features
Property Condition: Average
Style: See Remarks
Levels: Two
Exterior Finish: Brick
Appliances: Electric Range; Microwave; Refrigerator
Flooring: Carpet; Laminate; Tile
Roof: Shingle
Other Rooms: Utility Room
Parking Features: Asphalt
Heating: Heat Pump
Water: Public
Sewer: Public Sewer
Foundation: Block
AC: Ceiling Fan(s); Heat Pump
Structure Type: Multi Family
Walls: Drywall
Info Available: Leases; Rental Rolls
Easements: See Remarks
Financing: Cash; Conventional
Listing Office: KW Johnson City
Last Updated: November - 14 - 2025
Information deemed reliable but not guaranteed.