Kingsport Multifamily Investment
2008 Bloomingdale Road Kingsport, TN 37660
2008 Bloomingdale Road, Kingsport, TN, 37660
$500,000
Pending
For Sale
$500,000
Pending
MULTI_FAMILY - Other - Kingsport, TN
Property Size5,100 SF
Lot Size0.27 Acres
Days on Market153
Property Features for 2008 Bloomingdale Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R 1
- Bedrooms
- 12
- Bathrooms
- 2
- Rooms
- Bedroom 11, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 8, Bedroom 6, Bedroom 7, Bedroom 1, Basement, Bedroom 10, Bedroom 9, Bedroom 12, Bedroom 3
- Patio and Porch features
- Porch
- Basement
- Crawl Space
- Standard status
- Pending
- APN
- 031h A 00600 000
- Size
- 5,100 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2151
Utilities
- Sewer type
- Septic Tank
- Heating system
- Heat Pump (Heating)
- Cooling system
- Heat Pump
- Water source
- Public
Building Details
- Year built
- 1972
- Floors in Building
- 2
- Number of units
- 6
- Flooring type
- Carpet, Vinyl
- Building materials
- Brick
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
A Team Real Estate Professionals
(423) 726-2260
4595 Ft. Henry Drive, Kingsport, TN
Listed by
Dave Smith · License #334591
(423) 833-1444
Added: Feb 13 Checked: Jul 16 at 3:06 pm
MLS# 9991166
Listing URL
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 six-unit multifamily property in Kingsport, built in 1972, offers an investment opportunity with value-add potential. The building, totaling approximately 5,096 square feet, features a brick exterior and an architectural shingle roof. Each of the six units has an identical layout, including a galley kitchen with rear deck access, a main-level living area, and an upstairs floor plan with two bedrooms and a full hallway bath. HVAC systems, hot water heaters, and kitchen appliances vary in age but are operational. Flooring also varies by unit, with both carpet and LVP present, and is overall in good condition. Bathrooms are functional in all units except one, which requires renovation. The property includes parcels 031H A 010.00 & 031H A 006.00. All units have separate electric and water meters. The property, situated on a 0.27-acre lot, is zoned R 1. The property presents an opportunity for investors to increase value through updates and renovations. The property is approximately 5,100 square feet.
Key Highlights
- Strong value‑add potential through updates and renovations.
- Income‑producing 6‑unit multifamily property.
- All units feature an identical layout with 2 bedrooms and 1 bath.
Local Financial Insights For Apartment 5plus
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 | $68.5k | $13.44 |
| − Vacancy | −$3.8k | −$0.74 |
| EGI | $64.8k | $12.70 |
| − OpEx | −$29.1k | −$5.72 |
| NOI | $35.6k | $6.99 |
5,100 SF · lease $13.44/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$508.9K
$445.3K – $593.8K
NOI $35,626 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,690 @ 7.0% cap · market cap 26.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit multifamily property with value-add potential and existing cash flow.
Where is this apartment building located?
The property is located at 2008 Bloomingdale Road Kingsport, TN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Strong value‑add potential through updates and renovations.; Income‑producing 6‑unit multifamily property.; All units feature an identical layout with 2 bedrooms and 1 bath.
