701 E Sevier Ave, Kingsport, TN 37660

Attention investors who are looking for cash flow & instant equity—this is the opportunity you've been waiting for! This unique property includes two structures, 701 & 705, offering multiple income streams and endless possibilities. 701 is 4 beds, 2 baths and 2,480 sqft and 705 is 1 bed, 1 bath and 500 sqft 705 is a 1 bed, 1 bath, 500 sq. ft. apartment, currently rented at $600/month. It sits atop a garage with the potential to convert into another studio apartment, increasing your cash flow. 701 was previously a duplex and is currently configured as a single-family home with 4 bedrooms and 2 full baths. With 3 separate electric meters—one for each level of 701 and one for 705—the conversion back to a duplex is seamless. Note: there is one shared water meter for the entire property. While 701 has sustained fire damage affecting about 25-30% of the home, the kitchen, dining, and living rooms on the lower level were untouched. Where the fire occurred, there are some small portions of the home that need re-framed. As well as the upstairs likely needing new drywall from smoke damage (unless you wanted to run an Ozone machine, Kilz it and repaint to save costs). This property was appraised at $355k in January 2023, and prior to the fire, 701 was rented at $1200/month post-renovation. Don't miss this chance to restore, renovate, and reap the rewards. Sold as-is, buyer to perform all due diligence and verify all information. Ideal for the investor looking to add value and create a multi-unit rental property. Grab this opportunity before it's gone!