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423-968-7653
Multifamily (Multi-Family)

518 6th St
Bristol, TN 37620

2 Story, Traditional  Stories: 2
FOR SALE
Price: $670,000  Price Per ft²: $inf  List Date: 2022-09-02  DOM:  27
City Tax: $1,564 County Tax: $1,894Expenses Include: All Utilities, Lawn Maint, Property Insurance, Property Management, Taxes Real Estate
Year Built: 1920 About homes built before 1978

Total Area: 0 ft² (Finished & Unfinished)

Lot Size: 0.00 acre(s)Lot Dimensions: 58X169X60X169Topography: Level
Heating: CHW System, Natural GasCooling: Window Unit(s)Water & Sewage: Public
Appliances: Range, Refrigerator

Description

Bring your investors.Income producing multi family building in the heart of Bristol. Walking distance to town center, on bus route and opposite YMCA.Building made up of 8 x 1 bedroom, 1 bathroom updated apartments at 100% occupancy with long term tenants.All apartments have separate electric meters. Updated electrical, plumbing- pvc pipes installed 2021. New windows installed in 2022. Currently operating at 8% cap rate with income upside charging electric utilities to tenant directly and rent increases. Take advantage of low inventory and high demand.Commercial Bank appraisal has been completed.Full financials available with signed NDA and proof of funds/pre-approval letter. .There are 8 units in 518 6th street 4 units have a 605 Rose Street address. All units rent for $700 per month Owner pays utilities for these units Atmos gas, BTES electric, water sewer and trash. These units have individual meters for electric. total square footage 4748 see floor plan uploaded to MLS.total yearly gross rent $67,200This building can be purchased together with adjacent vacant land and building at 506 6th st(see separate listing) to create a 14 apartment complex with land to extend.

Community Information

Geographical
County: Sullivan
Subdivision:
Zoning: COMMERCIAL
School System
Fairmount Elementary
Tennessee Middle Middle
Tennessee High

Interior

Rooms with Fireplaces: Ornamental  Flooring: Ceramic Tile, Laminate, Vinyl Basement & Foundation: Dirt Floor  Other Features: Remodeled 

Exterior

Roof: Architect Shingle Exterior Finish: Brick Other Exterior: Sidewalk

Photos

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Listing by American Realty
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