Multifamily (Multi Family)

4006 Memorial Boulevard, Kingsport, TN 37664

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.

Geographical

County: Sullivan

Subdivision:

Zoning: R 4

School System

Jefferson Elementary

Robinson Middle

Dobyns Bennett High

Other Rooms: See Remarks, Workshop  Flooring: Hardwood, Luxury Vinyl, Vinyl, Tile, Laminate Basement & Foundation: Block, Exterior Entry, Concrete 

Roof: Metal, See Remarks Exterior Finish: Brick, Vinyl Siding, Concrete 

Photos