Property Description

Listing Status

• More Listing Info

  AC:Wall Unit(s)	true
  Appliances:Electric Range	true
  Appliances:Refrigerator	true
  Contract Info:Foreclosure	No
  Easements:None12	true
  Expenses Include:Electric2	true
  Expenses Include:Lawn Maint	true
  Expenses Include:Property Management	true
  Expenses Include:WaterSewer	true
  Exterior Features:Balcony	true
  Exterior Finish:Brick4	true
  Flooring:Carpet	true
  Flooring:Laminate	true
  Flooring:Vinyl	true
  Foundation:Block6	true
  General Property Description:# Buildings	1
  General Property Description:# Fireplaces	0.0
  General Property Description:# of Units	12.0
  General Property Description:Acres	0.5
  General Property Description:Elementary School3	Indian Springs
  General Property Description:High School3	West Ridge
  General Property Description:HOA YN	No
  General Property Description:Home Warranty2	No
  General Property Description:Lot Dimensions	100 x 250 IRR
  General Property Description:Middle School2	Sullivan Central Middle
  General Property Description:Senior Community YN3	No
  General Property Description:Stories2	3
  General Property Description:Total Units	12
  General Property Description:Zoning2	R 2A
  Heating:Heat Pump2	true
  Heating:Wall Furnace	true
  Info Available:ProfitLoss Statement	true
  Info Available:Rental Rolls	true
  Interior Features:Granite Counters	true
  Interior Features:KitchenDining Combo	true
  Interior Features:Laminate Counters	true
  Interior Features:Pantry	true
  Interior Features:Remodeled	true
  Levels:Three Or More	true
  Location Tax Legal Info:Block	A/9
  Location Tax Legal Info:City Taxes	0.0
  Location Tax Legal Info:County Taxes	3100.15
  Location Tax Legal Info:Deed Book #	0
  Location Tax Legal Info:Deed Page #	12/5
  Location Tax Legal Info:Lot #	Lot 9 & M/Pt Lot 11
  Parking Features:Asphalt2	true
  PorchPatioDeck:Front Porch	true
  Property Condition:Above Average	true
  Property Condition:UpdatedRemodeled	true
  Remarks Misc:Directions3	From John B Dennis Hwy 93, take the Memorial Blvd ext. Take 126 east towards Interstate 81. Go about 3 miles, then right on Lemay Drive, Unit complex on the right.
  Remarks Misc:Public Remarks2	Welcome to this 12-unit apartment complex, ideally located in a thriving community with convenient access to local amenities, parks, and transportation. Just minutes from downtown Kingsport, Blountville, and Bristol, this property offers a prime location for residents. Most of the units have been upgraded with modern finishes, including granite countertops in the kitchens and bathrooms, updated kitchen cabinets with ample storage and pantry space, and durable Luxury Vinyl Plank (LVP) flooring throughout. Additionally, the units feature fresh, new paint, giving each space a bright, inviting feel. New heating and cooling units, along with energy-efficient hot water heaters, ensure year-round comfort and cost-effective living. Recent exterior improvements include a new roof installed in November 2023, providing peace of mind and long-term protection from the elements. With a gross revenue of $8,500.00 and stable, long-term tenants, this property presents an excellent investment opportunity. Rents are still below market value, offering significant potential for future growth. This turn-key property, with most units upgraded and tenant stability in place, offers minimal maintenance and maximum profitability for investors seeking strong, consistent returns.
  Security Features:Smoke Detector(s)3	true
  Sewer:Septic Tank	true
  Structure Type:Multi Family	true
  Structure Type:Townhouse3	true
  Style:Townhouse2	true
  TopographyLot Description:Level2	true
  TopographyLot Description:Rolling Slope	true
  Unit 1:# Bedrooms3	12
  Unit 1:# Half Baths	0.0
  Unit 1:# Units	12
  Unit 1:Monthly Rent	75000
  Unit 1:SqFt6	5673
  Unit 2:# Units2	12
  Unit 3:# Units3	12
  Unit 4:# Bedrooms6	12
  Unit 4:# Units4	12
  Unit 4:Half Baths2	0.0
  Utilities:Cable Connected2	true
  Utilities:Electricity Connected	true
  Utilities:Phone Connected	true
  Utilities:Water Connected	true
  Walls:Drywall	true
  Water:Public	true
  Window Features:Double Pane Windows	true
  Window Features:Insulated Windows	true
  Window Features:Window Treatments	true
  Videos:	(none)
  Virtual Tours:	(none)

Listing Courtesy: