Multifamily (Multi Family)

105 Lemay Dr, Kingsport, TN 37664

Townhouse Stories: 3

FOR SALE

Price: $1,200,000 Price Per ft²: $211.53 List Date: 2024-11-13 DOM: 43
City Tax: $0 County Tax: $3,100Expenses Include: Electric, Water/Sewer, Property Management, Lawn MaintUtilities Expenses: $

Year Built: 1977 pre-1978 Homes

Total Area: 5,673 ft² (Finished & Unfinished)

Lot Size: 0.50 acre(s) Lot Dimensions: 100 x 250 IRR Topography: Level, Rolling Slope

Heating: Heat Pump, Wall Furnace Cooling: Wall Unit(s) Water & Sewage: Public

Appliances: Electric Range, Refrigerator

Description

Welcome to this 12-unit apartment complex with all units being 1 bedroom, 1 bath. Ideally located in a thriving community with convenient access to local amenities, parks, and transportation. Just minutes from downtown Kingsport, Blountville, and Bristol, this property offers a prime location for residents.Most of all the units have been upgraded with modern finishes, including granite countertops in the kitchens and bathrooms, updated kitchen cabinets with ample storage and pantry space, and durable Luxury Vinyl Plank (LVP) flooring throughout. Additionally, the units feature fresh, new paint, giving each space a bright, inviting feel. New heating and cooling units, along with energy-efficient hot water heaters, ensure year-round comfort and cost-effective living.Recent exterior improvements include a new roof installed in November 2023, providing peace of mind and long-term protection from the elements. With a gross revenue of $8,500.00 and stable, long-term tenants, this property presents an excellent investment opportunity. Rents are still below market value, offering significant potential for future growth.This turn-key property, with most units upgraded and tenant stability in place, offers minimal maintenance and maximum profitability for investors seeking strong, consistent returns. Call me or your Agent for more information today.