$130,000
$139,000
6.5%For more information regarding the value of a property, please contact us for a free consultation.
3,104 SqFt
SOLD DATE : 04/25/2024
Key Details
Sold Price $130,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,104 sqft
Price per Sqft $41
Subdivision West View Park
MLS Listing ID 9962207
Sold Date 04/25/24
Style See Remarks
HOA Y/N No
Originating Board Tennessee/Virginia Regional MLS
Year Built 1920
Lot Dimensions 90 x 155
Property Description
ATTENTION INVESTORS: This converted triplex is a prime investment opportunity for savvy investors. The property boasts three units: a 3-bedroom, 1-bathroom unit and two 2-bedroom, 1-bathroom units, totaling 3,104 sq ft of living space on a level, corner lot of 13,950 sq ft. With easy access to the interstate, local dining, and shops, this property is conveniently situated within the Dobyns-Bennett school district and just two blocks from the bus line.
Previously, Unit 2 was rented at $715/month, and Unit 3 was rented at $850/month. After renovation, the estimated total monthly income is projected to be between $3,100-$3,600, making it a lucrative investment opportunity. The property features all separate utilities: three electric meter bases, three natural gas connections, and three water meters for each unit, simplifying utility management and billing for tenants.
Recent upgrades include a new main drain line to the city sewer, enhancing the functionality of the property. The first unit has also undergone extensive demolition, offering a blank canvas for further renovation or conversion into a single-family residence.
Don't miss the chance to add this promising investment property to your portfolio in the thriving Kingsport real estate market. Schedule a showing today and discover the potential of 601 Fairview Ave.
Information compiled from multiple sources and deemed reliable, but not guaranteed; buyer and/or buyer's agent should verify all details.
Location
State TN
County Sullivan
Community West View Park
Zoning R1C
Direction From Johnson City, I-26 take exit 1, turn right onto US-11W N/W Stone Drive, .1 Mile Turn right onto Fairview Ave, Property will be on the left. From Downtown Kingsport, Head NW on W Center St toward Clay St .9mi, Turn right onto W Sullivan St, and Continue straight onto Fairview Ave.
Rooms
Basement Concrete, Dirt Floor, Walk-Out Access
Interior
Interior Features See Remarks
Heating Electric, Baseboard, Electric
Cooling Window Unit(s)
Flooring Carpet, Hardwood
Appliance See Remarks
Heat Source Electric, Baseboard
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Exterior Feature See Remarks
Garage Gravel, Parking Spaces, See Remarks
Roof Type Asphalt,Shingle
Porch Deck, Front Porch, Rear Porch, Side Porch, Wrap Around
Parking Type Gravel, Parking Spaces, See Remarks
Building
Lot Description See Remarks, Level
Entry Level Two
Sewer Public Sewer
Water Public
Architectural Style See Remarks
Structure Type See Remarks,Plaster,Other
New Construction No
Schools
Elementary Schools Jackson
Middle Schools Sevier
High Schools Dobyns Bennett
Others
Senior Community No
Tax ID 045e C 016.00
Acceptable Financing Cash, Conventional, Other, See Remarks
Listing Terms Cash, Conventional, Other, See Remarks
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Bought with Dana Cress • Century 21 Legacy Col Hgts