www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze property details including ownership and financial history. Share advanced property insights with your clients and teams.

15589 Lee Highway Legacy Apartments

60 Units | Hotel Conversion | Bristol, VA

Listing Contacts

See All (3)

Active

Asking Price: $5,395,000
Address 

15589 Lee Hwy, Bristol, VA 24202

Show on Map
Date Added
Feb 4, 2025
Days on Market
45 days
Time Since Last Update
43 days

Details

Property TypeMultifamily
SubtypeApartment Building
Square Footage22,680
Price/Sq Ft$237.87
Units60
Year Built1962
Stories2
Lot Size (acres)2.92
Price/Unit$89,916.67

Marketing Description

SVN | Wood Properties is pleased to exclusively present 15589 Lee Highway in Bristol, VA.​ This property has been completely renovated and is ready to cashflow! Formally a motel, this conversion now provides 60 studio style units that are located just off I-81.​ Located minutes from the new Amazon off of Exit #7, and less that 15 minutes to the new Hard Rock Casino.​ Great investment in a fast growing market.​

Bristol, located in southwestern Virginia, is part of the region known as the Tri-Cities, which includes Bristol, Kingsport, and Johnson City.​ This property is a short drive from several local schools, major retailers, and restaurants.​ Additionally, the property is a 10 minute drive from the newly constructed Hard Rock Casino and is also near Bristol Motor Speedway.​ With easy interstate access, tenants will be able to quickly travel throughout the Tri-Cities.​

For more information, please visit the Documents tab linked here: https://svnwood.​com/inventory/?propertyId=1472075-sale

Investment Highlights

  • 60 Units - All Studio Style

  • Recently Renovated

  • Located in the Booming Tri-Cities

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--

Valuation Metrics

0
DSCR
--
Cap Rate
--
ROI

Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts

See All (3)

Similar Properties for Sale

Pictures of Land, Multifamily, Self Storage, Special Purpose property located at 28 Flannagan Dr, Bristol, VA 24202 for sales - image #1
Opportunity Zone
$999,000
Development Site across from THE FALLS, Bristol, VA
High Visibility location on one of Bristol's Busiest Highways

28 Flannagan Dr Bristol, VA 24202

Pictures of Multifamily property located at 804 Crosscreek Dr, Abingdon, VA 24210 for sales - image #1
$3,750,000
Crosscreek of Abingdon
37-Unit Investment Opportunity Located in Abingdon, VA

804 Crosscreek Dr Abingdon, VA 24210

Pictures of Mobile Home Park, Multifamily property located at 269 Superior Cir, Bristol, VA 24201 for sales - image #1
$1,404,000
Columbia Avenue 24-Unit Portfolio
24 unit portfolio located in Bristol, VA. Contains 3 single family rental homes, 21 mobile homes

269 Superior Cir Bristol, VA 24201

Pictures of Mixed Use, Multifamily, Office, Retail property located at 513 State St, Bristol, VA 24201 for sales - image #1
$1,750,000
Dent K. Burke Building; Bring All Offers!
Dent K. Burke Building Historic Bristol, VA

513 State St Bristol, VA 24201

Pictures of Multifamily property located at 171 Hutton St, Abingdon, VA 24210 for sales - image #1
$750,000
Village Square Apartments
10 Unit Investment Opportunity in Abingdon, VA • $75,000 Price Per Unit

171 Hutton St Abingdon, VA 24210

Pictures of Multifamily, Land property located at Amy St, Bristol, VA 24201 for sales - image #1
virtual tour
$249,999
Multifamily 5.7 Acres Vacant Land R3 Moderate Density
Moderate Density Multifamily

Amy St Bristol, VA 24201

Pictures of Land, Mixed Use, Multifamily, Retail, Self Storage property located at 2182 US-11W, Bristol, TN 37620 for sales - image #1
$395,000
11W Shop & Market
Land

2182 US-11W Bristol, TN 37620

Pictures of Multifamily, Hospitality, Mixed Use, Land property located at 2620 Volunteer Pkwy, Bristol, TN 37620 for sales - image #1
$599,999
Former Sunset Motel
Multifamily

2620 Volunteer Pkwy Bristol, TN 37620

Pictures of Land, Mixed Use, Multifamily property located at Hwy 11 E, Bluff City, TN 37618 for sales - image #1
virtual tour
$950,000
HWY 11E 70 Acres Development Potential
Land • 70 acres

Hwy 11 E Bluff City, TN 37618

Pictures of Multifamily property located at 4573 Bluff City Hwy, Bluff City, TN 37618 for sales - image #1
Opportunity Zone
$609,375
4573 Bluff City Hwy
REDUCED! Excellent income producing mobile home park investmenT

4573 Bluff City Hwy Bluff City, TN 37618

Pictures of Multifamily property located at 416 Old Watauga Rd, Watauga, TN 37694 for sales - image #1
Auction
$75,000Starting Bid
Multifamily Four Unit Townhouse
100% Occupied • Great Investment Opportunity

416 Old Watauga Rd Watauga, TN 37694

See more properties for sale in Bristol
See More
See More Similar Properties
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off? Report
For assistance, reach out to our support team at [email protected] or call 888.273.0423 .