Multifamily (Multi Family)

420 Wheatley St, Kingsport, TN 37660

See Remarks Stories: 2

FOR SALE

Price: $840,000 Price Per ft²: $101.78 List Date: 2025-09-15 DOM: 3
City Tax: $2,149 County Tax: $2,685

Year Built: 1971 pre-1978 Homes

Total Area: 8,253 ft² (Finished & Unfinished)

Lot Size: 0.57 acre(s) Lot Dimensions: 177x133 Topography: Level

Heating: Heat Pump Cooling: Ceiling Fan(s), Heat Pump Water & Sewage: Public

Appliances: Microwave, Refrigerator, Electric Range

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 unitsAll 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!