407 North Fourth St, Kingston, TN 37763
- $1,100,000
- 12,870
- SqFt
- Sold Price
- $1,100,000
- List Price
- $1,172,000
- Closing Date
- Sep 15, 2023
- MLS#
- 1232513
- Status
- CLOSED
- Type
- Multifamily
- City
- Kingston
- County
- Roane
- Living Area
- 12,870
- Year Built
- 1973
Property Description
Located in the heart of downtown Kingston, this 16 unit building has been carefully maintained by its long time owner. The 16 units are made up of 8 one bedroom one bath floorplan and 8 two bedroom units 1.5 bath floorplan. These have a long track record of being 100% leased with a waiting list and are currently leased for $895/mth for 2BR and $695/mth for 1BR. 2 bedroom units have recent rebuilt expansive decks across the back of the building for outdoor enjoyment. All units are offered unfurnished with nice appliance packages. On-site laundry available if tenant chooses not to provide their own washer/dryer. All leases along with full year financials for 2022 and year to date 2023 are available upon request for qualified buyers. Current asking price is at 7 cap rate based on 2022 income/expenses. Great opportunity to get into the rental property mkt with a well maintained & successful property.
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Additional Information
- Appliances
- Dishwasher, Smoke Detector, Refrigerator
- Construction
- Brick
- Exterior Features
- Windows - Dble Pane
- Floors
- Carpet, Vinyl, Other
- Garage
- On Premise Parking, Attached, Off-Street Parking
- Living Area
- 12,870
- Lot Dimensions
- 152x146
- Year Built
- 1973
Mortgage Calculator
Agent: Dick Brower |
Office: Realty Executives Associates |
Selling Office: .