18 Units - Rogersville, TN

Multi-Family for Sale
Catylist Listing ID: 30840163
Property Subtypes: Low-Rise/Garden
Number of Units: 18 Units
Building Size (RSF): 10,168 SF
Gross Building Area: See Agent
Gross Land Area: 0.56 Acres
Sale Price: $1,100,000
Unit Price: $61,111.11 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 5/25/2023

Overview / Comments

This 18-unit apartment complex is situated in a peaceful location in Rogersville, TN and boasts below-market rents estimated to be 20-30% lower than the average. The complex comprises two buildings: Building 1 is a 10-unit motel-style building with a 5 over 5 configuration, and Building 2 is an 8-unit building with a 4 over 4 in a quad layout. Recent upgrades include a new dumpster, two new water heaters, new floors and paint in 6-8 units, and new AC units in 3 units. Additionally, the on-site laundry room has the potential to generate an additional revenue stream of around $150/mo when well-maintained. Conveniently located near several restaurants, shopping centers, and other amenities, the complex is an excellent investment opportunity with tremendous potential for generating steady rental income. Building 1 includes two units with a 2 bedroom conversion, providing ample living space for residents. The parking lot was repaved in 2018, providing convenience and ease of access for residents and guests. Overall, this apartment complex offers a promising investment opportunity in a great location with a strong potential for stable rental income.

Additional Details

Nearest MSA: Kingsport-Bristol
County: Hawkins
Tax ID/APN: 037100E C 00700
Percent Occupied: 100%
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Built: 1978
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,999 10,125 15,653
Median Age: 42.17 41.74 42.11
Households: 1,279 4,171 6,360


Photograph of Listing Agent

Jon Roosen

SVN l Wood Properties
Photograph of Listing Agent

Kevin Tipton

SVN I Wood Properties
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