Kingsport, TN 37660,893 New Beason Well Rd
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Kingsport, TN 37660,893 New Beason Well Rd
Kingsport, TN 37660,893 New Beason Well Rd
Kingsport, TN 37660,893 New Beason Well Rd
Kingsport, TN 37660,893 New Beason Well Rd

$5,700,000

Est. payment /mo

$6,120,000

6.9%
Est.Price: ?

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893 New Beason Well Rd Kingsport, TN 37660

78,524 SqFt

SOLD DATE : 07/07/2025

Key Details

Sold Price $5,700,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 78,524 sqft

Price per Sqft $72

MLS Listing ID 1292219

Year Built 2003

Property Description

Located in Kingsport, TN, Beason Well was built in 2003 and is comprised of 72 units. This affordable apartment community is 96% occupied and has a unit mix consisting of 2 and 3 bedroom units. Community amenities include on-site maintenance, a playground, breakfast/concierge area, and a picnic area. Each unit has washer / dryer hookups. Current average effective rent figures are at a 15% deficit of what could be collected if max rents were being charged.

This property is part of a 148 unit, three property LIHTC portfolio being sold in East Tennessee.

Location

State TN

County Sullivan County

Rooms

Other Rooms Other

Interior

Heating Central

Cooling Central Cooling

Flooring Laminate, Vinyl

Exterior

Parking Features On Premise Parking

Garage Description On Premise Parking

Roof Type Shingle

Building

Structure Type Brick

Others

Acceptable Financing New Loan, Cash, Conventional

Listing Terms New Loan, Cash, Conventional

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Listed by SVN I Wood Properties
agent

Billy McDevitt

Agent | License ID: 368659

+1(865) 360-8655

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