Listed by KW Johnson City
$800,000
420 Wheatley Street
Details
APN 061g A 022.00
Property Type Multifamily
Sub Type Apartment Building
Square Footage 8,253
Units 8
Occupancy 100%
Price per SqFt $97
Year Built 1971
Buildings 1
Stories 2
Acreage 0.570
Zoning R 4
Multifamily | 8 Units
Marketing 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 units
All 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!
Listing Contacts
Listed by KW Johnson City
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