Kingsport, TN 37660,701 Sevier Ave
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Kingsport, TN 37660,701 Sevier Ave
Kingsport, TN 37660,701 Sevier Ave
Kingsport, TN 37660,701 Sevier Ave
Kingsport, TN 37660,701 Sevier Ave
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701 Sevier Ave Kingsport, TN 37660

5 Beds

3 Baths

2,980 SqFt


UPDATED:

10/22/2024 04:07 PM

Key Details

Property Type Single Family Home

Sub Type Residential

Listing Status Active

Purchase Type For Sale

Square Footage 2,980 sqft

Price per Sqft $50

Subdivision Kingsport Improvement Corp

MLS Listing ID 1280188

Style Other

Bedrooms 5

Full Baths 3

Originating Board East Tennessee REALTORS® MLS

Year Built 1942

Lot Size 0.270 Acres

Acres 0.27

Property Description

Attention investors who are looking for cash flow & instant equity—this is the opportunity you've been waiting for! This unique property includes two structures, 701 & 705, offering multiple income streams and endless possibilities. 701 is 4 beds, 2 baths and 2,480 sqft and 705 is 1 bed, 1 bath and 500 sqft

705 is a 1 bed, 1 bath, 500 sq. ft. apartment, currently rented at $600/month. It sits atop a garage with the potential to convert into another studio apartment, increasing your cash flow.

701 was previously a duplex and is currently configured as a single-family home with 4 bedrooms and 2 full baths. With 3 separate electric meters—one for each level of 701 and one for 705—the conversion back to a duplex is seamless. Note: there is one shared water meter for the entire property.

While 701 has sustained fire damage affecting about 25-30% of the home, the kitchen, dining, and living rooms on the lower level were untouched. Where the fire occurred, there are some small portions of the home that need re-framed. As well as the upstairs likely needing new drywall from smoke damage (unless you wanted to run an Ozone machine, Kilz it and repaint to save costs).

This property was appraised at $355k in January 2023, and prior to the fire, 701 was rented at $1200/month post-renovation. Don't miss this chance to restore, renovate, and reap the rewards.

Sold as-is, buyer to perform all due diligence and verify all information. Ideal for the investor looking to add value and create a multi-unit rental property.

Grab this opportunity before it's gone!

Location

State TN

County Sullivan County

Area 0.27

Rooms

Basement Crawl Space

Guest Accommodations Yes

Interior

Interior Features Walk-In Closet(s)

Heating Central, Heat Pump, Electric

Cooling Central Cooling, Ceiling Fan(s)

Flooring Hardwood

Fireplaces Number 1

Fireplaces Type Other, Brick, Wood Burning

Appliance Dishwasher, Disposal, Microwave

Heat Source Central, Heat Pump, Electric

Exterior

Exterior Feature Fence - Privacy, Porch - Covered, Cable Available (TV Only), Balcony

Garage Designated Parking, Side/Rear Entry, Main Level, Off-Street Parking

Garage Description SideRear Entry, Main Level, Off-Street Parking, Designated Parking

View Other

Parking Type Designated Parking, Side/Rear Entry, Main Level, Off-Street Parking

Garage No

Building

Lot Description Private, Corner Lot, Level

Faces Starting from Interstate 26 (I-26), merge onto I-26 West towards Kingsport. Take exit 1 for Stone Drive (US-11W) toward Kingsport. At the end of the ramp, use the right lane to merge onto US-11W North (West Stone Drive), heading into Kingsport. Continue on Stone Drive for approximately 2.5 miles, then turn right at the traffic light onto East Center Street. Stay on East Center Street for about 1 mile before tPurblniciRnegmalreksft onto East Sevier Avenue, a small residential street. Drive for about 0.2 miles, and you will reach your destination at 701 E Sevier Ave, Kingsport, TN 37660.

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Guest House

Structure Type Block,Frame

Others

Restrictions Yes

Tax ID 046O C 035.00

Energy Description Electric

Acceptable Financing Alternative, Cash, Conventional

Listing Terms Alternative, Cash, Conventional


Listed by Flynn Realty

GET MORE INFORMATION

Katelyn Waters

Agent | License ID: 363091

+1(865) 660-5194 | katelyn@brickmortarproperties.com

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701 Sevier Ave