Four-Unit One-Bedroom
For Sale
$379,999
620 Cherry Street 1-4, Bristol, TN 37620
Multifamily property with wood flooring, shared laundry, rear parking, and renters interested in continued occupancy.
Property Size1,502 SF
Price / SF$252
Days on Market37
Property Features for 620 Cherry Street 1-4
General Information
Standard status
Active
Size
1,502 SF
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Amenities
laundry room
Building Details
Year Built
1910
Listing Agency:
CENTURY 21 Legacy Fort Henry
Listed By:
Tammy Childress · License #364452
(423) 213-3924
Source:
Thecolinandcarlygroup
Added: Sep 9
Changed: Oct 15
Last Checked: Oct 15 at 3:20AM
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 CENTURY 21 Legacy Fort Henry
Investment Insights
Based on property information with market context.
This four-unit residential income property was built in 1910 and includes four one-bedroom, one-bath residences. The units feature hardwood flooring in the main living areas, with vinyl finishes in the kitchens and bathrooms. A shared laundry room with a washer and dryer is positioned near the front entry, and parking is available behind the building.
The property is located at 620 Cherry Street in Bristol, Tennessee, north of downtown Bristol and near the Tennessee-Virginia border. Existing renters have expressed interest in continuing their respective leases with a new owner. The property is being sold as-is, where-is.
The property is located at 620 Cherry Street in Bristol, Tennessee, north of downtown Bristol and near the Tennessee-Virginia border. Existing renters have expressed interest in continuing their respective leases with a new owner. The property is being sold as-is, where-is.
Key Highlights
- Four one‑bedroom, one‑bath units
- Built in 1910
- Hardwood flooring throughout living areas; vinyl in kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,207
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,140
$224.1K
Cap Rate 7%
$160,100
$160.1K
Cap Rate 9%
$124,522
$124.5K
Market Conditions
NOI Build-Up for 1,502 SF
Gross rent
$17.1K $11.40/SF
− Vacancy
−$1.1K −$0.74/SF
EGI
$16.0K $10.66/SF
− OpEx
−$4.8K −$3.20/SF
NOI
$11.2K $7.46/SF
Area
Sullivan County, TN
Vacancy
6.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,140
Cap Rate 7%
$160,100
Cap Rate 9%
$124,522
Alternative Uses
Best Use
Multifamily LT 5
$160.1K
$140.1K – $186.8K
NOI $11,207 @ 7.0% cap · market cap 2.95%
Second Best
Apartment 5plus
$149.9K
$131.2K – $174.9K
NOI $10,492 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$562.5K
$492.2K – $656.2K
NOI $39,373 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,086
Businesses Nearby
Explore this area
Business Placement
Demographics for 37620, TN
38,245
Population
18,119
Households
2.1
Avg Household Size
45
Median Age
26%
College-Educated
90%
High-School Grad
128.2 sq mi
ZIP Area
298
Density / Sq Mi
$54,908
Median Household Income
$36,017
Median Earnings
$809
Median Rent
$175,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property with wood flooring, shared laundry, rear parking, and renters interested in continued occupancy.
Where is this quadplex located?
The property is located at 620 Cherry Street 1-4 Bristol, TN.
What is the asking price?
The asking price for this property is $379,999.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; Built in 1910; Hardwood flooring throughout living areas; vinyl in kitchens and bathrooms
