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Listed by Kunal Patel • SVN Accel Commercial Real Estate
$ 1,250,000
Est. payment /mo
Active
1433 Stratford Rd Kingsport, TN 37664
6,750 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,750 sqft
Price per Sqft $185
Subdivision Green Valley Manor Sec 1
MLS Listing ID 3130337
HOA Y/N No
Year Built 1971
Annual Tax Amount $10,315
Lot Dimensions 84 X 226.9 IRR
Property Description
SVN | Accel Commercial Real Estate is pleased to present Magnolia Ridge Apartments, an 11-unit multifamily investment opportunity located at 1433 Stratford Road in Kingsport, Tennessee. This fully renovated and stabilized asset offers immediate in-place cash flow with continued upside through future rent growth in a market experiencing strong demand and limited multifamily inventory.
Magnolia Ridge features a balanced unit mix of:
(1) 3BR / 2BA
(4) 1BR / 1BA
(6) 2BR / 1BA
All units are separately metered for electricity, with water and trash billed back to tenants, providing operational efficiency and expense recovery. Ownership has invested approximately $250,000+ in capital improvements, delivering a true turnkey opportunity. Renovations include new flooring, fixtures, appliances, interior and exterior paint, upgraded electrical and plumbing systems, water heater replacements, windows, patio doors, pavement improvements, enhanced site lighting, security cameras, gutter guards, and full bathroom upgrades.
With major capital improvements completed and the asset stabilized, Magnolia Ridge presents investors with a low-maintenance opportunity featuring durable cash flow and embedded rental upside in a supply-constrained Tri-Cities market.
Magnolia Ridge features a balanced unit mix of:
(1) 3BR / 2BA
(4) 1BR / 1BA
(6) 2BR / 1BA
All units are separately metered for electricity, with water and trash billed back to tenants, providing operational efficiency and expense recovery. Ownership has invested approximately $250,000+ in capital improvements, delivering a true turnkey opportunity. Renovations include new flooring, fixtures, appliances, interior and exterior paint, upgraded electrical and plumbing systems, water heater replacements, windows, patio doors, pavement improvements, enhanced site lighting, security cameras, gutter guards, and full bathroom upgrades.
With major capital improvements completed and the asset stabilized, Magnolia Ridge presents investors with a low-maintenance opportunity featuring durable cash flow and embedded rental upside in a supply-constrained Tri-Cities market.
Location
State TN
County Sullivan County
Zoning R 3
Interior
Heating Central
Cooling Central Air
Flooring Other
Fireplace N
Exterior
Utilities Available Water Available
View Y/N false
Private Pool false
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction false
Schools
Elementary Schools Andrew Johnson Elementary School
Middle Schools Ross N. Robinson Middle School
High Schools Dobyns - Bennett High School
Others
Senior Community false
Special Listing Condition Standard
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