Turn-Key Kingsport Condo
308 E Sullivan Street Kingsport, TN 37660
308 E Sullivan Street, Kingsport, TN, 37660
$499,900
For Sale
$499,900
MULTI_FAMILY - Kingsport, TN
Property Size2,969 SF
Lot Size0.02 Acres
Price / SF$168.37
Days on Market67
Property Features for 308 E Sullivan Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- B 2
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2
- Window features
- Double Pane Windows
- Interior features
- 2+ Person Tub, Eat-in Kitchen, Granite Counters, Open Floorplan, Walk-In Closet(s)
- Appliances
- Built-In Electric Oven, Dishwasher, Dryer, Microwave, Refrigerator, Washer
- Standard status
- Active
- APN
- 046p D 018.10
- Size
- 2,969 SF
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Annual Amount
- 754
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 3
- Number of units
- 3
- Flooring type
- Tile - Ceramic, Brick, Hardwood, Tile
- Building materials
- Brick, Stone
- Roof type
- Rubber
Listing agency
Blue Ridge Properties
(423) 247-4181
Listed by
Connie Salyer
(423) 534-1621
Added: May 18 Checked: Jul 23 at 12:06AM
MLS# 9995567
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a three-unit condo investment property that has been completely remodeled and features a new roof. The property is being sold fully furnished, including furniture and appliances. It comes with an established clientele already in place. Each unit is thoughtfully designed and tastefully appointed. The property is located in the heart of Downtown Kingsport and is housed within a historic building. It offers a balance of seclusion and accessibility. The property is suitable for short-term rentals or long-term leasing. The lot size is 0.02 acres and the property size is 2969 square feet. The zoning is B 2.
Key Highlights
- Turn‑key investment property with established clientele for immediate income.
- Fully furnished with beautiful furniture and appliances included.
- Completely remodeled with a brand‑new roof.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.8k | $11.40 |
| − Vacancy | −$2.2k | −$0.74 |
| EGI | $31.6k | $10.66 |
| − OpEx | −$9.5k | −$3.20 |
| NOI | $22.2k | $7.46 |
2,969 SF · lease $11.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$316.5K
$276.9K – $369.2K
NOI $22,153 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$296.3K
$259.3K – $345.7K
NOI $20,740 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$1.11M
$972.9K – $1.30M
NOI $77,829 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit condo, fully furnished, remodeled, with established clientele.
Where is this triplex located?
The property is located at 308 E Sullivan Street Kingsport, TN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Turn‑key investment property with established clientele for immediate income.; Fully furnished with beautiful furniture and appliances included.; Completely remodeled with a brand‑new roof.
