25-Unit Multifamily
For Sale
$1,495,000
908 Chadwick Drive, Kingsport, TN 37660
Well-maintained 25-unit portfolio across six buildings, currently 100% occupied with 1- and 3-bedroom unit options.
Property Size17,766 SF
Days on Market194
Property Features for 908 Chadwick Drive
General Information
Standard status
Active
Size
17,766 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
25
Building Details
Building Size
17,766 SF
Year Built
1973
Listing Agency:
PWA Properties
Listed By:
Kevin G. Tipton · License #275491
(865) 210-0228
Source:
Thecochranteam
Added: Apr 8
Changed: Oct 11
Last Checked: Oct 16 at 5:44AM
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 PWA Properties
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Investment Insights
Based on property information with market context.
This 25-unit multifamily portfolio is presented as six separate buildings and is currently 100% occupied. The unit mix includes twenty 1 bed/1 bath units and five 3 bed/1.5 bath units, supporting a range of tenant household sizes within the same ownership group.
The portfolio is located in Kingsport, Tennessee, approximately five minutes from downtown Kingsport. The surrounding area is supported by major employers including Eastman Chemical Company and Ballad Health, and the property benefits from convenient access to retail, dining, and recreational amenities.
For buyers seeking an income-producing multifamily package, the current occupancy and established in-place tenant base provide a straightforward operating foundation with the larger portfolio structure of six buildings under one offering.
The portfolio is located in Kingsport, Tennessee, approximately five minutes from downtown Kingsport. The surrounding area is supported by major employers including Eastman Chemical Company and Ballad Health, and the property benefits from convenient access to retail, dining, and recreational amenities.
For buyers seeking an income-producing multifamily package, the current occupancy and established in-place tenant base provide a straightforward operating foundation with the larger portfolio structure of six buildings under one offering.
Key Highlights
- 25‑unit multifamily portfolio in Kingsport, TN across six buildings
- Currently 100% occupied with stable in‑place income
- Unit mix: twenty 1 bed/1 bath units and five 3 bed/1.5 bath units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,103
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,482,060
$2.5M
Cap Rate 7%
$1,772,900
$1.8M
Cap Rate 9%
$1,378,922
$1.4M
Market Conditions
NOI Build-Up for 17,766 SF
Gross rent
$238.8K $13.44/SF
− Vacancy
−$13.1K −$0.74/SF
EGI
$225.6K $12.70/SF
− OpEx
−$101.5K −$5.72/SF
NOI
$124.1K $6.99/SF
Area
Sullivan County, TN
Vacancy
5.50%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,482,060
Cap Rate 7%
$1,772,900
Cap Rate 9%
$1,378,922
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.07M
NOI $124,103 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.65M
$5.82M – $7.76M
NOI $465,714 @ 7.0% cap · market cap 31.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
25
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
210
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 25-unit portfolio across six buildings, currently 100% occupied with 1- and 3-bedroom unit options.
Where is this apartment building located?
The property is located at 908 Chadwick Drive Kingsport, TN.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 25‑unit multifamily portfolio in Kingsport, TN across six buildings; Currently 100% occupied with stable in‑place income; Unit mix: twenty 1 bed/1 bath units and five 3 bed/1.5 bath units
