722 Old Stage Road

LOW MAINTENANCE INCOME PRODUCING MULTI-FAMILY COMPLEX. 13 Total units. The main/upper level consists of 9 Townhouse style 2bed/1.5 bath units. The lower 4 units have separate driveway entrance and consist of one level 2 bed/1 bath units. Each unit has own laundry hook-ups. Currently 7 Units rent at $850/month, 3 at $800/month, and one at $1100/month. The other two are vacant while having appliances upgraded in between tenants and they will each rent for $1100/month. So fully rented, that is $11,650/month or $139,800/year!! Seven of the rented units have had same tenant for at least 4 years! Great location in Church Hill, close to grocery stores and only 15 min to Kingsport. Units are all metered separate. City Utilities-Gas, Water, Electric, Sewer. In recent years, windows have been replaced, new blacktop in upper parking area, half of HVACs have been replaced. New appliances added to 4-5 units as needed. There is a storage garage on sight for management to store tools, etc, plus all the plumbing is accessible by an enclosed breezeway that spans the entire length of the building. This is a quality turnkey property!!