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420 Wheatley Street
Kingsport TN 37660
MLS #10001184 · Listing Courtesy of KW Johnson City
$880,000
Active
7,864
Sq Ft
0.57
Acres
1971
Built
Property Description
Unlock the potential of this income-producing apartment building in the heart of Kingsport! Featuring 8 total units, this property offers a versatile mix of floor plans to attract a variety of tenants: (2) spacious 3-bed/1-bath units (4) comfortable 2-bed/1-bath units, (2) efficient 1-bed/1-bath units
All units are currently 100% occupied by long-term tenants, providing stable cash flow with significant upside potential through future rent increases. The property is in an excellent location directly across from Eastman Headquarters, ensuring strong demand and long-term security.
That's not all--an additional 421 sq. ft. storage area provides extra income potential or utility space for tenants.
Each apartment comes with its own individual power meter, while city water, sewer, and schools make management simple. Tenants will also appreciate the ample on-site parking, a rare and valuable convenience for multi-family living.
Whether you're an experienced investor looking to expand your portfolio or just starting out in real estate investing, this property offers a solid opportunity with long-term rental demand.
Schedule your showing today and see why 420 Wheatley Street is the smart move for your investment future!
Property Facts
Property TypeCommercial Lease
MLS Number10001184
City Taxes$2,149.37
County Taxes$2,684.91
Features & Amenities
Interior
Ceiling Fan(s)
Heat Pump
Exterior
Brick Exterior
Shingle Roof
Other
Average Condition
Leases
Public Sewer
Public Water
Residential
Directions
From Johnson City, take I-26 W toward Kingsport. Continue for approximately 20 miles, then take Exit 1 for Wilcox Drive toward TN-126/Center Street. Turn right onto Wilcox Drive, then continue straight. Turn left onto Wheatley Street. Property will be on the right.
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Additional Information
Contract InfoForeclosureNoDevelopment StatusSee RemarksYesElectric ServiceSee RemarksYesGeneral Property DescriptionAnnual Lease0HOANoLeaseYesLot Size133x177Stories2Total Finished SqFt7,864Unfinished SqFt421ZoningR 4Location Tax Legal InfoBlock6Deed Book #3,639Deed Page #949Lot #Pt 5Other EquipmentSee RemarksYesRestrictionsSee RemarksYesRoad AccessSee RemarksYesSale IncludesSee RemarksYes
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