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1433 Stratford Rd 11 Unit Apartment Building $1,250,000 ($113,636/Unit) Kingsport, TN 37664
Investment Highlights
- 11-Unit Stabilized Multifamily Asset
- Unit Mix: 1 × 3BR / 2BA, 4 × 1BR / 1BA. 6 × 2BR / 1BA
- Turnkey Operations with Minimal Near-Term CapEx
- Fully Renovated – Approx. $250k+ in CapEx Completed
- Electrical Separately Metered
- Opportunity for Future Rent Growth
Executive Summary
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.
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.
Property Facts
| Price | $1,250,000 | Building Class | C |
| Price Per Unit | $113,636 | Lot Size | 0.44 AC |
| Sale Type | Investment | Building Size | 11,700 SF |
| No. Units | 11 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1971/2023 |
| Apartment Style | Low-Rise | ||
| Zoning | R3 | ||
| Price | $1,250,000 |
| Price Per Unit | $113,636 |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 11,700 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2023 |
| Zoning | R3 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Security System
- Kitchen
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 6 | - | - |
| 3+2 | 1 | - | - |
1 1
Property Taxes
| Parcel Number | 062P-G-010.00 | Improvements Assessment | $301,920 |
| Land Assessment | $11,600 | Total Assessment | $313,520 |
Property Taxes
Parcel Number
062P-G-010.00
Land Assessment
$11,600
Improvements Assessment
$301,920
Total Assessment
$313,520
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1433 Stratford Rd
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