$800,000
Kingsport, TN 37660
MLS# 9985789
8285 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: 96.56
Foreclosure: No
Short Sale: No
Auction: No
Status: Active
Listing Price: 800000
Current Price: $800,000
Listing Date: 2025-09-15
General Property Description
Acres: 0.57
Lease: Yes
Lot Size: 133x177
Zoning: R 4
HOA Y/N: No
Stories: 2
Total SqFt Finished: 7864
Total SqFt Unfinished: 421
Annual Lease $: 0
Year Built: 1971
Total SqFt: 8285
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
Business Type
Residential: 1
Exterior Finish
Brick: 1
Other Equipment
See Remarks: 1
Roof
Shingle: 1
Road Access
See Remarks: 1
Electric Service
See Remarks: 1
Development Status
See Remarks: 1
Heating
Heat Pump: 1
Info Available
Leases: 1
AC
Ceiling Fan(s): 1
Heat Pump: 1
Water
Public: 1
Sewer
Public Sewer: 1
Restrictions
See Remarks: 1
Financing
Cash: 1
Conventional: 1
Sale Includes
See Remarks: 1
Location Tax Legal Info
Street #: 420
Street Name: Wheatley
St Suffix: Street
County: Sullivan
State/Province: TN
Zip Code: 37660
Area: 413 - Downtown,Greenfields,Hillcrest
Property Features
Property Condition: Average
Business Type: Residential
Exterior Finish: Brick
Other Equipment: See Remarks
Roof: Shingle
Electric Service: See Remarks
Development Status: See Remarks
Heating: Heat Pump
AC: Ceiling Fan(s); Heat Pump
Water: Public
Sewer: Public Sewer
Road Access: See Remarks
Info Available: Leases
Restrictions: See Remarks
Financing: Cash; Conventional
Sale Includes: See Remarks
Listing Office: KW Johnson City
Last Updated: November - 14 - 2025
Information deemed reliable but not guaranteed.