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518 6th Street

Bristol, TN 37620
  • $670,000
  • STATUS: Active
  • ON SITE: 25 Days
  • MLS #: 9942987
UPDATED: 37 min ago
$670,000
  • 4
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1920
County:

School Information

Elementary School:
Middle School:
High School:

Description

Bring your investors.Income producing multi family building in the heart of Bristol. Walking distance to town center, on bus route and opposite YMCA.Building made up of 8 x 1 bedroom, 1 bathroom updated apartments at 100% occupancy with long term tenants.All apartments have separate electric meters. Updated electrical, plumbing- pvc pipes installed 2021. New windows installed in 2022. Currently operating at 8% cap rate with income upside charging electric utilities to tenant directly and rent increases. Take advantage of low inventory and high demand.Commercial Bank appraisal has been completed.Full financials available with signed NDA and proof of funds/pre-approval letter. .There are 8 units in 518 6th street 4 units have a 605 Rose Street address. All units rent for $700 per month Owner pays utilities for these units Atmos gas, BTES electric, water sewer and trash. These units have individual meters for electric. total square footage 4748 see floor plan uploaded to MLS.total yearly gross rent $67,200This building can be purchased together with adjacent vacant land and building at 506 6th st(see separate listing) to create a 14 apartment complex with land to extend.

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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: 2022-09-28T14:59:57.817.
www.conservusrealestategroup.com/homes/132723379
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518 6th Street Bristol, TN 37620

  • Price: $670,000
  • Status: Active
  • On Site: 25 Days
  • Updated: 37 min ago
  • MLS #: 9942987
4
Beds
4
Baths
0
½ Baths
N/A
Acres
1920
Built
Neighborhood:
Bristol Tn(City)
County:
Sullivan
Area:
Bristol Tn(City)
Elementary School:
Fairmount
Middle School:
Tennessee Middle
High School:
Tennessee
Property Description
Bring your investors.Income producing multi family building in the heart of Bristol. Walking distance to town center, on bus route and opposite YMCA.Building made up of 8 x 1 bedroom, 1 bathroom updated apartments at 100% occupancy with long term tenants.All apartments have separate electric meters. Updated electrical, plumbing- pvc pipes installed 2021. New windows installed in 2022. Currently operating at 8% cap rate with income upside charging electric utilities to tenant directly and rent increases. Take advantage of low inventory and high demand.Commercial Bank appraisal has been completed.Full financials available with signed NDA and proof of funds/pre-approval letter. .There are 8 units in 518 6th street 4 units have a 605 Rose Street address. All units rent for $700 per month Owner pays utilities for these units Atmos gas, BTES electric, water sewer and trash. These units have individual meters for electric. total square footage 4748 see floor plan uploaded to MLS.total yearly gross rent $67,200This building can be purchased together with adjacent vacant land and building at 506 6th st(see separate listing) to create a 14 apartment complex with land to extend.
Exterior Features

Exterior Features Sidewalk Exterior Finish Brick Foundation Concrete PerimeterPillar/Post/Pier Lot Dimensions 58X169X60X169 Parking Features Gravel Roof Architect Shingle Style 2 StoryTraditional Topography Lot Description Level Walls DrywallPlaster Window Features Double Pane Windows

Interior Features

Ac Window Unit(S) Appliances RangeRefrigerator Basement Dirt Floor Building1 Number Rooms 3 Building2 Number Rooms 3 Building3 Number Rooms 1 Fireplace Ornamental Flooring Ceramic TileLaminateVinyl Heating Chw SystemNatural Gas Interior Features Remodeled

Property Features

Auction No Building1 Monthly Rent 700 Building1 Number Units 1 Building2 Monthly Rent 700 Building2 Number Units 2 Building3 Monthly Rent 70000 Building3 Number Units 3 Building4 Monthly Rent 700 Building4 Number Rooms 3 Building4 Number Units 4 City Taxes 1563.62 County Taxes 1894.16 Easements None Existing Finance Conventional Expenses Include All UtilitiesLawn MaintProperty InsuranceProperty ManagementTaxes Real Estate Financing CashConventional Foreclosure No Property Condition Above Average Property Sub Type Multi-Family Sewer Public Sewer Short Sale No Water Public Zoning Commercial

Listing information © 2022 Tennessee/Virginia Regional MLS.
Listing provided courtesy of Mia Joyce Johnson of American Realty: (276) 466-0836.



© 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: 2022-09-28T14:59:57.817.
 
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Conservus Real Estate Group
402 East Main Street
Kingsport TN, 37660