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USATNBristolFairmount Land Co1241 Virginia Ave
1241 Virginia Ave, Home with 0 bedrooms, 0 bathrooms and null parking in Bristol TN | Image 1
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$359,900

1241 Virginia Ave, Bristol, TN

Real Estate

For Sale

$--,---,---
000
  • Key Facts
  • Description
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Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage No
Taxes 
Days Active 0
Lot Size 
Approx. Age 1939
MLS® Number 9980521

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

This turn-key multifamily property features two beautifully renovated spaces, offering a fantastic investment opportunity in a desirable location. The main home, a 1939 bungalow, boasts timeless appeal with modern touches. Enjoy open-concept living with a brick fireplace, new flooring, and a stunning kitchen with stainless-steel appliances and butcher block countertops. Three bedrooms, including a primary suite with en suite bath, offer comfortable living. Two covered porches provide breathtaking city views. The guest house, situated behind the main home, is a spacious retreat with a large garage, full kitchen, and two bedrooms. Additional features include: Renovated full bath New appliances and fixtures throughout New carpet in bedrooms Spacious living room Recent updates include a new roof, HVAC, and electrical system, minimizing future maintenance for the new owner. Financial Highlights: Annual Revenue: $32, 400 ($1, 500 x 12 for the front unit + $1, 200 x 12 for the rear unit) Monthly Revenue: $2, 700 Expenses: Insurance: $600 annually Taxes: $700 annually Maintenance: $1, 620 (5% of annual revenue) Total: $2, 920 annually Assumptions: 5% vacancy rate factored into revenue calculations Tenants cover utilities (electric, water, and trash) Cap Rate: 7%, indicating a desirable return for the area Valuation: Based on the 7% cap rate, the property is valued at approximately $400, 000 Located just minutes from downtown Bristol, with easy access to King University, the Paramount Center for the Arts, and Steele Creek Park. Both units are on one-year leases, providing a stable income stream for the new owner.Show Description
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Walk Score®
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Transit Score®
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Bike Score®
MLS® Number9980521
Laundry Level
Central VacNo
FireplaceNo
Acreage0.34
Exterior
GarageNo
Approx. Age1939
BasementConcrete
DrivewayAsphalt
Garage Spaces
HeatCentral
A/CCentral Air
Heating Fuel

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