1433 Stratford Rd - Apartments FOR SALE


Kingsport, TN 37664- Town Of Kingsport
$1,250,000 USD
615-260-2807
1433 Stratford Rd, Kingsport, TN for Sale
$1,250,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

1433 Stratford Rd
Kingsport, TN 37664
Town Of Kingsport


HIGHLIGHTS

  • 11-Unit Stabilized Multifamily Asset
  • Fully Renovated – Approx. $250k+ in CapEx Completed
  • Unit Mix: 1 × 3BR / 2BA, 4 × 1BR / 1BA. 6 × 2BR / 1BA
  • Electrical Separately Metered
  • Turnkey Operations with Minimal Near-Term CapEx
  • Opportunity for Future Rent Growth

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$107 USD /SF

# OF UNITS

11

PRICE/UNIT

$113,636

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1971

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

R3

APN/PARCEL ID

062P-G-010.00

ASK ABOUT THIS PROPERTY

Jana TrumanSVN | Accel Commercial Real EstateMore Info
615-260-2807

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Jana TrumanSVN | Accel Commercial Real EstateMore Info
615-260-2807

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.