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| Bedrooms: | 0 | Full Bathrooms: | 0 | Half Bathrooms: | 0 |
| Type: | Multi Family | Sub Type: | Multi Family | MLS Number: | 9977041 |
| Living Area: | 0 | Lot Acreage: | 0 | Year Built: | 1935 |
| Elementary School: | Jefferson | Middle School: | Robinson | High School: | Dobyns Bennett |
Property Description
This investment property—featuring a quadplex and a standalone house—offers immediate rental income with over an 8% cap rate. Unlike properties priced for potential earnings, this opportunity allows you to buy at today's income and grow into future potential, ensuring a solid return from day one while leaving room for increased cash flow over time.
The current owner has stabilized rents at a sustainable level, providing an opportunity for future rent increases as further improvements are made and as the market naturally appreciates. Recent updates include new windows, updated flooring, and mini-split units, enhancing efficiency and tenant satisfaction.
Unit 8 has been intentionally left vacant for showings, allowing the new owner to decide its best use. High rental demand is already proven, with multiple inquiries received for this unit alone.
Located in Kingsport, close to shopping, dining, and essential amenities, this property ensures strong occupancy and long-term tenant appeal. Whether you're a seasoned investor or entering the market, this is a rare opportunity to generate immediate cash flow while strategically increasing returns over time.
Listing Status
Active
Buyer's Agent Compensation
2.5%
-
More Listing Info
AC:See Remarks11 true AC:Window Unit(s) true Appliances:Dishwasher true Appliances:Electric Range true Appliances:Refrigerator true Contract Info:Foreclosure No Easements:None12 true Exterior Finish:Brick4 true Flooring:Laminate true General Property Description:# Buildings 2 General Property Description:# of Units 5.0 General Property Description:Acres 0.15 General Property Description:Elementary School3 Jefferson General Property Description:High School3 Dobyns Bennett General Property Description:HOA YN No General Property Description:Home Warranty2 No General Property Description:Lot Dimensions 50X120 General Property Description:Middle School2 Robinson General Property Description:Senior Community YN3 No General Property Description:Stories2 2 General Property Description:Total Units 5 General Property Description:Zoning2 Commercial Heating:See Remarks10 true Heating:Wall Furnace true Info Available:Rental Rolls true Levels:Two true Location Tax Legal Info:Block 2 Location Tax Legal Info:City Taxes 969.58 Location Tax Legal Info:County Taxes 1167.49 Location Tax Legal Info:Deed Book # 3543 Location Tax Legal Info:Deed Page # 1972 Location Tax Legal Info:Lot # 12 Parking Features:Asphalt2 true Parking Features:Gravel true Property Condition:Above Average true Remarks Misc:Directions3 Kingsport, Eastman Road, Right on E Center st, Right on Fuller St, Property is on the left Remarks Misc:Public Remarks2 This investment property—featuring a quadplex and a standalone house—offers immediate rental income with over an 8% cap rate. Unlike properties priced for potential earnings, this opportunity allows you to buy at today's income and grow into future potential, ensuring a solid return from day one while leaving room for increased cash flow over time. The current owner has stabilized rents at a sustainable level, providing an opportunity for future rent increases as further improvements are made and as the market naturally appreciates. Recent updates include new windows, updated flooring, and mini-split units, enhancing efficiency and tenant satisfaction. Unit 8 has been intentionally left vacant for showings, allowing the new owner to decide its best use. High rental demand is already proven, with multiple inquiries received for this unit alone. Located in Kingsport, close to shopping, dining, and essential amenities, this property ensures strong occupancy and long-term tenant appeal. Whether you're a seasoned investor or entering the market, this is a rare opportunity to generate immediate cash flow while strategically increasing returns over time. Roof:Shingle true Sewer:Public Sewer true Structure Type:House true Structure Type:Multi Family true Structure Type:Quadruplex true Style:Traditional3 true TopographyLot Description:Level2 true Unit 1:# Bathrooms5 4.0 Unit 1:# Bedrooms3 6 Unit 1:# Units 4 Unit 1:Monthly Rent 3025 Unit 1:SqFt6 2646 Unit 2:# Bathrooms4 1.0 Unit 2:# Bedrooms4 1 Unit 2:# Units2 1 Unit 2:Monthly Rent2 550 Unit 2:SqFt5 640 Unit 3:# Units3 0 Unit 4:# Units4 0 Water:Public true Videos: (none) Virtual Tours: (none)
Listing Courtesy:
Blue Ridge Properties
Listing Agent:
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