Manchester Townhomes

Multi-Family for Sale
Catylist Listing ID: 30847747
Property Subtypes: Low-Rise/Garden
Number of Units: 31 Units
Building Size (RSF): 25,398 SF
Gross Building Area: See Agent
Gross Land Area: 3.75 Acres
Sale Price: $2,750,000
Unit Price: $88,709.68 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/4/2023

Overview / Comments

Introducing Manchester 242 Apartments, proudly brought to you by SVN | Wood
Properties. This property, originally constructed from 1985 to 1989, comprises a diverse mix of units. Among them are 24 townhouses featuring 2 bedrooms and 1.5 bathrooms, along with 4 units offering 1 bedroom and 1.5 bathrooms, and 3 units featuring 1 bedroom and 1 bathroom. In total, there are 31 units.

This investment opportunity offers immense value-add potential for new ownership. Building upon the proven success of previous renovations, the property presents the chance to implement an efficient utility bill back system, including sub-metering for water consumption. Furthermore, connecting to the county sewer system will reduce expenses, allowing for additional revenue generation. Moreover, the current acreage provides an enticing prospect for the construction of additional units.

With Manchester 242 Apartments, you can seize the opportunity to enhance the property, maximize returns, and unlock its full potential for sustainable growth.

Additional Details

Nearest MSA: Kingsport-Bristol
County: Washington
Tax ID/APN: 25218
Total Number of Buildings: 5
Year Built: 1989
Year Renovated: 2023

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,363 10,037 23,063
Median Age: 42.55 44.37 44.93
Households: 1,033 4,290 9,951


Photograph of Listing Agent

Jon Roosen

SVN l Wood Properties
Photograph of Listing Agent

Kevin Tipton

SVN I Wood Properties
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