4006 Memorial Boulevard, Kingsport, TN 37664
Not In Subdivision · Sullivan County
Key Facts
Description
This investment property--including two buildings and seven units--offers immediate rental income. At full capacity, this property provides an 8.7% cap rate and enough land to further develop and add more units for additional future income. With the TDOT road improvements on Hwy 126, the approximate boundary lines already show the new property borders which will change the traffic patterns for the better after the road modifications. Between an unfinished basement and a garage workshop, you'll also have plenty of storage space on site for anything needed for property management. Features to note include a 2yr old metal roof on Building 2, a 5yr old metal roof on Building 1, some plumbing and electrical updates, remodeling in process in 2 vacant units, and current tenants with good rental history. Whether you're already an investor or just stepping into the rental market, this property offers the unique position for established income with growth potential for more. Sale includes both parcels 062C E 017.00 and 062C E 018.00. Buyer(s)/buyer(s) agents to verify all information.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Structure Type
Multi Family
Year Built
1947
Living Area
4,045 sq ft
Lot Size
1.28 acres
Lot Dimensions
233M X 282M IRR & 75 X 150 IRR
Zoning
R 4
Days on Market
62
MLS® Listing#
9995031
Property Features
Appliances
Cooling
Heating
Flooring
Basement
Parking
Construction
Foundation
Roof
Security
Utilities
Sewer
Water Source
Schools
- Elementary:
- Jefferson
- Middle:
- Robinson
- High:
- Dobyns Bennett
Financial Details
HOA
None
Parcel Number
062c E 017.00
Directions
From the intersection of Hwy 93/John B Dennis Hwy and Hwy 126/Memorial Blvd, travel .6 miles east towards Cooks Valley. Apartments will be on your left, adjacent to Amy Avenue.
Affordability Calculator
$85,000
Estimated monthly payment
$2,262/mo
Principal $340,000 · Est. interest $474,330 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Kingsport, TN
- $342,458
- Median Listing Price
- 60
- Median Days on Market
- 1,809
- Median Sq Ft
- $178
- Median Price / Sq Ft
- 359
- Active Listings
- This home’s price is 24% above the area median.
- Its price per sq ft is 41% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Kingsport, TN.
Location
Points of Interest in Kingsport, TN
Showing the Kingsport area map.
Nearby Schools
Mountain View Day School
School · 0.5 mi away
Robinson Middle School
Secondary · 1.4 mi away
Thomas Jefferson Elementary School
Elementary · 1.6 mi away
Christian Life Center
School · 1.7 mi away
Dobyns-Bennett High School
Secondary · 1.9 mi away
City of Kingsport Public Works
Secondary · 1.9 mi away
Sullivan North High School
Secondary · 2.0 mi away
Andrew Johnson Elementary School
Elementary · 2.0 mi away
Palmer Early Learning Center
School · 2.1 mi away
Appalachian Christian School
School · 2.1 mi away
St. Dominic School Kingsport, TN
Secondary · 2.3 mi away
Lincoln Elementary School
Elementary · 2.6 mi away
John Sevier Middle School
Secondary · 3.0 mi away
Cedar Grove Elementary School
Elementary · 3.4 mi away
St. Paul's Day School & Kindergarten
School · 3.5 mi away
Ketron Middle School
School · 3.5 mi away
Ketron Elementary School
Elementary · 3.5 mi away
Sullivan South High School
Secondary · 3.6 mi away
Rock Springs Elementary
Elementary · 3.7 mi away
First Baptist Church
School · 3.8 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 621 Norris Avenue, Kingsport, TN | $297,900 | 3 | 2 | 1,375 |
| 412 Colonial Heights Road, Kingsport, TN | $299,000 | 3 | 3 | 1,854 |
| 444 Lenoir Road, Kingsport, TN | $299,000 | 3 | 3 | 2,132 |
| 4208 Nickleby Court, Kingsport, TN | $299,000 | 3 | 2 | 1,607 |
| 4260 West Stone Drive, Kingsport, TN | $299,900 | — | — | — |
| 4260 West Stone Drive, Kingsport, TN | $299,900 | — | — | — |
Moving Cost Estimate
EXIT Agents in Kingsport
Listing Courtesy: CENTURY 21 Legacy Fort Henry - 4232396112
Presented by: Abigail Weaver