7-Unit Apartment
For Sale
$825,000
1223 Wateree Street, Kingsport, TN 37660
Multi Family, Kingsport, TN
Property SizeContact for details
Lot Size0.26 Acres
Days on Market49
Property Features for 1223 Wateree Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R 1B
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1
Appliances
Dishwasher, Electric Range, Refrigerator
Subdivision
City Of Kingsport
Elementary school
Lincoln
Middle school
Sevier
High school
Dobyns Bennett
Directions
From Eastman Road follow Fort Henry Drive to Left on E Center St. Follow E. Center Street to right on Wateree St. Follow Wateree St. to the property on the left at the corner of Wateree and Oak St.
Standard status
Active
APN
046o E 04800 000
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
1805
Utilities
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
7
Flooring type
Hardwood
Building materials
Brick
Roof type
Metal
Architectural style
Other
Listing Agency:
Weichert Realtors Saxon Clark KPT
(423) 765-9118
Listed By:
William Lokar · License #TN. 369044, VA 0225266068
(423) 612-4400
Added: Jul 17
Changed: Sep 3
Last Checked: Sep 3 at 6:06PM
MLS# 9998329
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 7-unit apartment property includes five one-bedroom, one-bath residences and two two-bedroom, one-bath residences on a 0.26-acre parcel. The units include mini-split heating and cooling, laundry hookups, dishwashers, electric ranges, and refrigerators. Two apartments have landlord-owned stackable laundry equipment. Brick construction, hardwood flooring, a metal roof, public water, and a 1930 construction date further define the asset. The property is fully occupied and carries R 1B zoning.
Recent work includes a new roof, electrical improvements, plumbing updates, and crawl-space encapsulation. Located in Kingsport, TN, the property is identified as 1223 Wateree Street, Kingsport, TN 37660. Financial metrics include a reported 8.3% cap rate.
Recent work includes a new roof, electrical improvements, plumbing updates, and crawl-space encapsulation. Located in Kingsport, TN, the property is identified as 1223 Wateree Street, Kingsport, TN 37660. Financial metrics include a reported 8.3% cap rate.
Key Highlights
- 7 units: five 1‑bedroom/1‑bath and two 2‑bedroom/1‑bath apartments
- Fully occupied with a reported 8.3% cap rate
- 0.26‑acre parcel in Kingsport, TN
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
Business Placement
Demographics for 37660, TN
39,479
Population
20,405
Households
1.9
Avg Household Size
45
Median Age
24%
College-Educated
88%
High-School Grad
65.7 sq mi
ZIP Area
601
Density / Sq Mi
$46,913
Median Household Income
$34,164
Median Earnings
$833
Median Rent
$177,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied property with updated electrical, plumbing, roofing, and crawl-space encapsulation.
Where is this apartment building located?
The property is located at 1223 Wateree Street Kingsport, TN.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 7 units: five 1‑bedroom/1‑bath and two 2‑bedroom/1‑bath apartments; Fully occupied with a reported 8.3% cap rate; 0.26‑acre parcel in Kingsport, TN
