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3800 Memorial Boulevard

Kingsport, TN 37664
  • $2,200,000
  • STATUS: Active
  • ON SITE: 15 Days
  • MLS #: 9941303
$2,200,000
  • 0
    BEDS
  • 4.7
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1988
County:

School Information

Elementary School:
Middle School:
High School:

Description

This well positioned, value-add multifamily community is located just 10 minutes from the heart of downtown Kingsport. There are 7 buildings with a total of 27 units. 22 of the units are studio apartments with 1 bath and 1 large closet. In 2020, roofs were replaced and exteriors were painted. Last year, 8 of the studio apartments were renovated. Three of the remodeled units are currently rented as short term rentals. The buyer will be able to add value by continuing to renovate and increase rents while also implementing RUBs for additional income.

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© 2022 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2022-08-10T23:59:53.133.
www.conservusrealestategroup.com/homes/131280348
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3800 Memorial Boulevard Kingsport, TN 37664

  • Price: $2,200,000
  • Status: Active
  • On Site: 15 Days
  • MLS #: 9941303
0
Beds
0
Baths
0
½ Baths
4.7
Acres
1988
Built
County:
Sullivan
Elementary School:
Out Of Area
Middle School:
Out Of Area
High School:
Out Of Area
Property Description
This well positioned, value-add multifamily community is located just 10 minutes from the heart of downtown Kingsport. There are 7 buildings with a total of 27 units. 22 of the units are studio apartments with 1 bath and 1 large closet. In 2020, roofs were replaced and exteriors were painted. Last year, 8 of the studio apartments were renovated. Three of the remodeled units are currently rented as short term rentals. The buyer will be able to add value by continuing to renovate and increase rents while also implementing RUBs for additional income.
Exterior Features

Exterior Finish Other Lot Dimensions 4.7 Style Other Topography Lot Description See Remarks

Interior Features

Ac Other Heating See Remarks

Property Features

Auction No Building1 Number Units 1 Building2 Number Units 1 Building3 Number Units 1 Building4 Number Units 1 City Taxes 5772.39 County Taxes 7394.73 Easements None Foreclosure No Property Sub Type Multi-Family Short Sale No Water See Remarks Zoning R1b/R3

Listing information © 2022 Tennessee/Virginia Regional MLS.
Listing provided courtesy of Kevin Tipton of Svn, Wood Properties.



© 2022 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2022-08-10T23:59:53.133.
 
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Conservus Real Estate Group
402 East Main Street
Kingsport TN, 37660