3800 Memorial Blvd, Kingsport, TN 37664

$1,900,000
Property Type: Multi-Family Square Footage: 12,721 Status: Closed
Current Price: $1,900,000 List Date: 7/26/2022 Last Modified: 4/20/2023

Overview

Description

This well positioned, value-add multifamily community is located just 10 minutes from the heart of downtown Kingsport. There are 7 buildings with a total of 27 units. 22 of the units are studio apartments with 1 bath and 1 large closet. In 2020, roofs were replaced and exteriors were painted. Last year, 8 of the studio apartments were renovated. Three of the remodeled units are currently rented as short term rentals. The buyer will be able to add value by continuing to renovate and increase rents while also implementing RUBs for additional income.

Listing Details MLS# 1200540

Location Tax Legal Info

House #
3800
Street Name
Memorial
St Suffix
Blvd
State/Province
TN
Zip Code
37664
PIN #
062G C 051.00

Contract Info

Auction Y/N
No
Listing Price
2150000

General Property Description

SqFt - Total (Aprox)
12721
Lot Dimensions
4.7 Acres
Number of Units
27
Utilities/Mo Avg
1540.5
Year Built
1988
Property Status
N/A
Driveway
Paved
Lease Information
1 Yr - Mo to Mom

Status Change Info

Status Change Date
2023-04-20
Under Contract Date
2022-12-17
Sold Date
2023-04-18

More Information

Property Features

Property Sub-Type: Apartment Type of Units: Efficiency Unit; 2 Bedroom Unit Sale Includes: Some Furnishings Floors: Laminate; Vinyl Owner Expenses: Advertising; Insurance; Lawn Maintenance; Sewer; Taxes; Water Fuel: Other Fuel Heat: Other Cooling: Window Unit(s) Appliances: Range; Refrigerator Construction: Block; Frame Roof: Shingle Other Rooms: Other New Financing: Cash; Conventional; New Loan Showing: See Agent Instructns
IDX
Listing Office: SVN I Wood Properties
Last Updated: April - 20 - 2023
The data relating to real estate for sale on this Web Site comes from the IDX Program of the East Tennessee REALTORS® Multiple Listing Service. © Copyright 2026 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.