6-Unit Multifamily Investment Opportunity in Kingsport
Investor special! This 6-unit multifamily property, built in 1972 and totaling approximately 5,096 sq ft, offers a solid income-producing opportunity with strong value-add potential. All six units feature an identical layout including a galley kitchen with rear deck access, main-level living area, and an upstairs floor plan with two spacious bedrooms and a full hallway bath.
The building features a brick exterior in good condition and an architectural shingle roof. HVAC systems and hot water heaters vary in age but are operational. Kitchen appliances also vary in age. Bathrooms are functional in all units except Unit 1, which requires a full renovation in the tub/shower and is currently non-operational. Flooring varies by unit (carpet and LVP) and is overall in good condition.
Current rents:
Unit 1: $0 (vacant/non-functional)
Unit 2: $300/month
Units 3-6: $600/month each
Total monthly income: $2,700
Annual income: $32,400
Property is in good overall condition and presents a strong opportunity for investors to increase value through updates and renovations. Ideal for buyers seeking a multifamily asset with upside potential and existing cash flow. Parcels 031H A 010.00 & 031H A 006.00 are both included. All units have separate electric and water meters. All Information is deemed reliable but should be verified by buyer or buyer's agent. Set up a showing through your agent or call Listing agent. Please no drive-byes. View with appointment only.
185 days
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15
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0
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Zillow last checked:
Listing updated:
Listed by:
Dave Smith423-833-1444,
A Team Real Estate Professionals423-726-2260
Source: TVRMLS,MLS#: 9991166
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 12
Bathrooms: 2
Heating
Heat Pump
Cooling
Heat Pump
Appliances
Included: See Remarks
Laundry: Electric Dryer Hookup, Washer Hookup
Features
See Remarks
Flooring: See Remarks, Luxury Vinyl, Carpet
Doors: Storm Door(s)
Basement: Crawl Space
Interior area
Total structure area: 5,100
Total interior livable area: 5,100 sqft
Property
Parking
Parking features: Asphalt
Features
Levels: Two
Stories: 2
Patio & porch: Rear Porch
Lot
Size: 0.27 Acres
Dimensions: 75 x 150 IRR
Topography: Level
Details
Parcel number: 031h A 00600 000
Zoning: R 1
Construction
Type & style
Home type: MultiFamily
Architectural style: Traditional
Property subtype: Multi Family
Materials
Brick
Foundation: Block
Roof: Shingle
Condition
Average
New construction: No
Year built: 1972
Utilities & green energy
Sewer: Septic Tank
Water: Public
Utilities for property: Electricity Connected, Water Connected