24,420 SqFt
24,420 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 24,420 sqft
Price per Sqft $89
MLS Listing ID 9990694
HOA Y/N No
Total Fin. Sqft 24420
Year Built 1979
Lot Size 1.820 Acres
Acres 1.82
Lot Dimensions See Remarks
Source Tennessee/Virginia Regional MLS
Property Description
Introducing Green Valley Manor! Boasting a total of 24 units across six (6) individually deeded quadplexes, this rare multifamily opportunity offers flexibility few assets can match—including the ability to sell off individual buildings to offset capital. Each 2 bed / 1 bath unit features laundry hookups, private balconies, dedicated kitchen and dining space, and spacious living areas. Individually metered throughout, the property supports multiple investment strategies while maintaining strong tenant appeal.
Currently generating a strong return, the property has undergone extensive exterior renovations, including a new roof, windows, and siding in 2019. Select units have also received interior upgrades such as updated flooring, cabinetry, appliances, and finishes—making this a low-maintenance, plug-and-play investment.
Notably, seven (7) of the twenty-four (24) units are intentionally held vacant, as current ownership operates under rent limitations associated with its funding structure. These units have been left unrented to preserve maximum flexibility during disposition.
Upon transfer of ownership, these rent limitations do not carry forward, aside from honoring existing lease terms—allowing a new owner to lease vacant units and renew tenants at market rates, creating a clear and immediate value-add opportunity. With pro forma rents in the $900-$950 range, a stabilized operation could support approximately $180,000-$190,000 in annual NOI, creating a compelling upside scenario through lease-up and market-rate renewals.
Strategically positioned in a highly convenient and well-established area of Kingsport, this offering delivers unmatched regional connectivity and economic upside for investors, with direct access to Fort Henry Drive, Stone Drive, and major regional corridors including I-81 and I-26. Just minutes from a growing employment base anchored by major manufacturers and corporate employers such as Eastman Chemical Company and Domtar, the area benefits from a diversified economy spanning healthcare, industrial, and service sectors—driving consistent workforce demand and long-term tenant stability.
Whether you choose to sell off select buildings to offset your basis, explore alternative strategies such as short-term rentals where permitted, or simply continue enjoying strong cash flow from an already stabilized asset, this property offers exceptional versatility and upside.
Whether you're a seasoned investor looking to strengthen your portfolio or someone seeking entry into the multifamily space, opportunities like this don't come often. Offered at $2,195,000 ($365,000 per building | $92,000 per unit).
Don't miss your chance—call today! Information deemed reliable but collected from third-party sources and subject to buyer and buyer's agent verification.
Location
State TN
County Sullivan
Area 1.82
Zoning R3
Direction From I26 W, exit 4 to merge onto TN-93 N. Take the TN-126/Memorial Blvd exit toward Blountville. Turn right onto TN-126/Memorial Blvd. Turn right onto Stratford Rd. GPS Friendly.
Interior
Heating Heat Pump
Cooling Heat Pump
Equipment See Remarks
Heat Source Heat Pump
Exterior
Roof Type Shingle
Road Frontage City Street
Building
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
Others
Senior Community No
Tax ID 062p G 008.00
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Schools and Properties Nearby
MORTGAGE CALCULATOR
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