1223 Wateree Street, Kingsport, TN 37660 For Sale

Seize the chance to own this centrally located 7-unit multi-family property in Kingsport, TN, offering an excellent return on investment. The complex includes five 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units, all fully occupied with total monthly rents of $7,090. Each unit is equipped with mini-split systems for efficient heating and cooling, ensuring tenant comfort year-round. Additionally, all units feature laundry hook-ups, adding convenience and appeal for residents. Two units have stackable units owned by the landlord. Electric is metered separately and paid by tenants. The property has undergone significant upgrades, including a new roof, updated electrical systems, and modernized plumbing. The recent encapsulation of the crawl space further enhances the building's structural integrity and energy efficiency. With a cap rate of 8.5%, this property is a compelling opportunity for investors seeking a stable and profitable asset. Don't miss out on this prime real estate in a vibrant community. Contact us today to schedule a viewing and explore the potential of this outstanding property!