Multifamily Income Property with Six
For Sale
$699,995
630 Elizabethton Highway, Bluff City, TN 37618
MULTI_FAMILY - Bluff City, TN
Property Size6,174 SF
Lot Size1.28 Acres
Price / SF$113.38
Days on Market47
Property Features for 630 Elizabethton Highway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MF
Bedrooms
12
Bathrooms
12
Full bathrooms
6
Half bathrooms
6
Rooms
Bedroom 7, Bedroom 6, Bathroom 3, Basement, Bathroom 10, Bedroom 10, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 11, Bedroom 12, Bedroom 4, Bathroom 12, Bedroom 5, Bedroom 8, Bathroom 7, Bedroom 9, Bathroom 6, Bathroom 9, Bathroom 2, Bathroom 5, Bedroom 3, Bathroom 8, Bathroom 4, Bathroom 11
Basement
Crawl Space
Appliances
Dishwasher, Range, Refrigerator
Subdivision
Not Listed
Elementary school
Bluff City
Middle school
East Middle
High school
Sullivan East
Directions
11E to 19E toward Elizabethton. Left on Elizabethton Hwy. Buildings on left.
Standard status
Active
APN
125b A 008.10
Size
6,174 SF
Lot size
1.28 Acres
Taxes and HOA fees
Tax Annual Amount
3191
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
1993
Floors in Building
2
Number of units
6
Flooring type
Vinyl, Laminate, Carpet
Building materials
Vinyl Siding
Roof type
Metal
Listing Agency:
Path Real Estate LLC
(423) 377-0577
Listed By:
Justin Branson · License #303020
(423) 366-7745
Added: Jun 15
Changed: Jul 25
Last Checked: Jul 31 at 6:06PM
MLS# 9996838
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 multifamily income property includes six fully occupied units, each configured with two bedrooms and 1.5 bathrooms. The units are separately metered, supporting independent utility billing. The property sits on a 1.28-acre lot and has had several documented updates. Improvements include a metal roof installed in 2012, siding installed in 2012, and PEX water lines added in the crawl space in 2026. Additional exterior work includes storm doors installed in 2026, along with exterior foundation and deck staining in 2026, and crawl space cleanup in 2025. The septic was also pumped in 2026.
Located in Bluff City, TN (Sullivan County), the property is positioned along Elizabethton Highway and is described as providing convenient access to the Tri-Cities area. The listing notes proximity to shopping, dining, and major commute routes.
For buyers seeking a turn-key residential income asset, the current occupancy and separate metering may simplify operating considerations. With multiple documented capital improvements across the roof, siding, plumbing lines, and exterior maintenance, this property presents a straightforward opportunity for those who want an established, currently leased multifamily structure within an MF zoning framework. All information is provided as a courtesy, and buyers are encouraged to verify details and complete due diligence for their intended use.
Located in Bluff City, TN (Sullivan County), the property is positioned along Elizabethton Highway and is described as providing convenient access to the Tri-Cities area. The listing notes proximity to shopping, dining, and major commute routes.
For buyers seeking a turn-key residential income asset, the current occupancy and separate metering may simplify operating considerations. With multiple documented capital improvements across the roof, siding, plumbing lines, and exterior maintenance, this property presents a straightforward opportunity for those who want an established, currently leased multifamily structure within an MF zoning framework. All information is provided as a courtesy, and buyers are encouraged to verify details and complete due diligence for their intended use.
Key Highlights
- Six fully occupied units on a 1.28‑acre lot, each with 2 bedrooms and 1.5 baths
- Separately metered units
- Metal roof installed in 2012; vinyl siding installed in 2012
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 | $83.0k | $13.44 |
| − Vacancy | −$4.6k | −$0.74 |
| EGI | $78.4k | $12.70 |
| − OpEx | −$35.3k | −$5.72 |
| NOI | $43.1k | $6.99 |
6,174 SF · lease $13.44/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$616.1K
$539.1K – $718.8K
NOI $43,128 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.31M
$2.02M – $2.70M
NOI $161,844 @ 7.0% cap · market cap 23.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 37618, TN
12,729
Population
6,250
Households
2
Avg Household Size
47
Median Age
17%
College-Educated
88%
High-School Grad
69.3 sq mi
ZIP Area
184
Density / Sq Mi
$58,413
Median Household Income
$37,003
Median Earnings
$880
Median Rent
$174,000
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 - Six fully occupied, separately metered units offer an investor-ready residential income setup on an MF-zoned site.
Where is this apartment building located?
The property is located at 630 Elizabethton Highway Bluff City, TN.
What is the asking price?
The asking price for this property is $699,995.
What are key features of this property?
This property features: Six fully occupied units on a 1.28‑acre lot, each with 2 bedrooms and 1.5 baths; Separately metered units; Metal roof installed in 2012; vinyl siding installed in 2012
