D
Seller's Agent in 2022
DOUGLAS MICHLINK
Blue Ridge Properties Col Hgts
432 Allen Dr Kingsport, TN 37660
Lynn Garden NeighborhoodEstimated Value: $89,000 - $141,000
--
Bed
1
Bath
1,572
Sq Ft
$66/Sq Ft
Est. Value
Highlights
- 2.7 Acre Lot
- Deck
- Partially Wooded Lot
- Ross N. Robinson Middle School Rated A
- Wood Burning Stove
- Traditional Architecture
About This Home
As of May 2022Excellent Investment Opportunity!! 29- Unit, high occupancy apartment complex in a prime location within 5-minute drive from Exit 01/ I 26. This apartment complex has 8 buildings nestled in a wooded area with mature shade trees, each offering 3,600 Sq. Ft., situated on 2.7 acres. Topography offers space for additional complexes or structures for additional income. Each building contains 4 units all of which are 2-bedroom units. A one (1) bedroom unit exists but is a standalone building. Almost all units have received upgrades with new paint, flooring, bathroom updates. Each unit has a laundry and wood fireplace with paved parking. Currently, the apartment complex has 86% occupancy rate with an average annual 10% vacancy rate. Don't miss out on this fantastic opportunity to own a high cash-flow, high occupancy apartment complex in this fast-growing community. 24 Hour notice for all showings. Financial and Cash Flow Statements available for qualified buyers. All information deemed reliable but not guaranteed. Buyer/Buyers Agent to verify all information.
Last Agent to Sell the Property
DOUGLAS MICHLINK
Blue Ridge Properties Col Hgts License #281660 Listed on: 02/22/2022
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1979 | Remodeled
Lot Details
- 2.7 Acre Lot
- Privacy Fence
- Sloped Lot
- Partially Wooded Lot
- Property is in average condition
Home Design
- Traditional Architecture
- Slab Foundation
- Shingle Roof
- Wood Siding
Interior Spaces
- 1,572 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Wood Burning Stove
- Double Pane Windows
- Insulated Windows
- Living Room with Fireplace
- Carpet
- Fire and Smoke Detector
Kitchen
- Eat-In Kitchen
- Electric Range
- Dishwasher
- Laminate Countertops
Laundry
- Laundry Room
- Washer and Electric Dryer Hookup
Outdoor Features
- Balcony
- Deck
- Covered Patio or Porch
Schools
- Roosevelt Elementary School
- Sevierville Middle School
- Dobyns Bennett High School
Utilities
- Cooling System Mounted In Outer Wall Opening
- Central Heating
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 029l B 009.10, 029l B 009.20, 029l B 009.00
Community Details
Overview
- 29 Units
- Not Listed Subdivision
Building Details
- Operating Expense $87,596
- Gross Income $196,574
- Net Operating Income $108,978
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Dec 9, 2019
Sold by
Henard Karen Sue
Bought by
Gb Investment Properties Llc
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$28,900
Outstanding Balance
$20,354
Interest Rate
3.6%
Mortgage Type
Commercial
Estimated Equity
$81,415
Purchase Details
Closed on
Sep 14, 2017
Sold by
Peters Sandra Kaye
Bought by
Peters Sandra Kaye and Sandra Kaye Peters Living Trust
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Gb Investment Properties Llc | $34,000 | None Available | |
| Peters Sandra Kaye | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Gb Investment Properties Llc | $28,900 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/31/2022 05/31/22 | Sold | $1,500,000 | +7.1% | $954 / Sq Ft |
| 02/23/2022 02/23/22 | Pending | -- | -- | -- |
| 02/22/2022 02/22/22 | For Sale | $1,400,000 | -- | $891 / Sq Ft |
Source: Tennessee/Virginia Regional MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | -- | $10,650 | $1,225 | $9,425 |
| 2023 | $469 | $10,650 | $1,225 | $9,425 |
| 2022 | $469 | $10,650 | $1,225 | $9,425 |
| 2021 | $456 | $10,650 | $1,225 | $9,425 |
| 2020 | $284 | $10,650 | $1,225 | $9,425 |
| 2019 | $512 | $11,050 | $2,000 | $9,050 |
| 2018 | $500 | $11,050 | $2,000 | $9,050 |
| 2017 | $500 | $11,050 | $2,000 | $9,050 |
| 2016 | $461 | $9,925 | $2,000 | $7,925 |
| 2014 | $434 | $9,923 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
-
L
Buyer's Agent in 2022
Laura Meade
Property Advisors
(423) 480-3749
4 in this area
124 Total Sales
Map
Source: Tennessee/Virginia Regional MLS
MLS Number: 9934217
APN: 029L-B-008.00
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