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    FOR SALE
    Commercial real estate

    1223 Wateree St Kingsport, TN 37660

    5,438 SF 0.26 ac lot Built 1930
    Property ID
    US80-3551932
    1223 Wateree St, Kingsport, TN 37660 For Sale 1 / 23
    $825,000 5,438 SF
    1223 Wateree St, Kingsport, TN 37660
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    Property summary
    AI-generated overview

    This exceptional multifamily investment opportunity presents a well-maintained seven-unit apartment building situated at 1223 Wateree Street in Kingsport, Tennessee, zip code 37660. The property, built in 1930, encompasses 5,438 square feet on a 0.26-acre lot and is zoned R1B. The two-story building consists of seven units, with a mix of five one-bedroom, one-bathroom units and two two-bedroom, one-bathroom units. Recent renovations have significantly enhanced the property's value, including updated cabinets, flooring, plumbing, bathrooms, and HVAC systems throughout all units. This turnkey investment is priced at $750,000, representing a price per square foot of $170.10 and a price per unit of $107,142.86. Its prime location, just one mile from downtown Kingsport, offers significant potential for strong rental income and future appreciation. This property is an ideal addition to any investor's portfolio seeking a stable and profitable investment in a thriving Tennessee market. The property's strong rental history and recent upgrades make it a compelling opportunity for immediate cash flow and long-term growth.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 1930
    Total area 5,438 SF
    Lot 0.26 ac (11,326 SF)
    UPID US80-3551932
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
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