72-Unit LIHTC Apartment
For Sale
$6,120,000
893 New Beason Well Rd, Kingsport, TN 37660
Established multifamily community with two- and three-bedroom residences and resident-focused on-site amenities.
Property SizeContact for details
Days on Market526
Property Features for 893 New Beason Well Rd
General Information
Standard status
Active
Property subtype
Multi Family
Building Details
Year Built
2003
Listing Agency:
SVN I Wood Properties
(865) 603-9887
Listed By:
Cohl Morgan · License #351465
(865) 603-9887
Source:
Exitrealty
Added: Mar 24, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN I Wood Properties
Investment Insights
Based on property information with market context.
Beason Well is a 72-unit apartment community completed in 2003 in Kingsport, Tennessee. The property offers a mix of two- and three-bedroom residences, with washer and dryer hookups in every unit. Shared amenities include a playground, picnic area, breakfast and concierge space, and on-site maintenance services.
Occupancy is reported at 96%. Current average effective rents are 15% below the stated maximum rent levels. The community is included in a 148-unit, three-property LIHTC portfolio located in East Tennessee.
Occupancy is reported at 96%. Current average effective rents are 15% below the stated maximum rent levels. The community is included in a 148-unit, three-property LIHTC portfolio located in East Tennessee.
Key Highlights
- 72‑unit apartment community built in 2003
- 96% occupied
- Two- and three‑bedroom unit mix
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
69
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 - Established multifamily community with two- and three-bedroom residences and resident-focused on-site amenities.
Where is this apartment building located?
The property is located at 893 New Beason Well Rd Kingsport, TN.
What is the asking price?
The asking price for this property is $6,120,000.
What are key features of this property?
This property features: 72‑unit apartment community built in 2003; 96% occupied; Two- and three‑bedroom unit mix
