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For sale
  • Price cut: $10K (7/3)
    $349,900

    1241 Virginia Ave, Bristol, TN 37620

    5beds
    2baths
    2,778sqft
    : 
    Multi Family
    Built in 1939
    -- sqft lot
    $333,300 Zestimate®
    $126/sqft
    $-- HOA

    What's special

    Full kitchenBreathtaking city viewsTwo bedroomsThree bedroomsNew flooringNew carpet in bedroomsBrick fireplace
    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.
    81 days
    on Zillow
    |
    358
    |
    33
    |

    Zillow last checked: 7 hours ago

    Listing updated: August 01, 2025 at 02:10pm

    Listed by:

    Cory Parsons 304-674-3190,

    eXp Realty, LLC 888-519-5113

    Source: TVRMLS,MLS#: 9980521
    Travel times

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    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 5
    • Bathrooms: 2
    Heating
    • Central
    Cooling
    • Central Air
    Appliances
    • Included: Electric Range, Refrigerator
    Features
    • Built-in Features, Remodeled, Restored
    • Flooring: Luxury Vinyl, Carpet
    • Basement: Concrete
    • Number of fireplaces: 1
    Interior area
    • Total structure area: 2,778
    • Total interior livable area: 2,778 sqft

    Property

    Parking
    • Parking features: Asphalt
    Features
    • Levels: Two
    • Stories: 2
    • Patio & porch: Front Porch, Rear Porch
    Lot
    • Size: 0.34 Acres
    • Dimensions: 100 x 150
    • Topography: Rolling Slope
    Details
    • Parcel number: 021j F 009.00
    • Zoning: Residential

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Bungalow,See Remarks
    • Property subtype: Multi Family
    Materials
    • Block, Masonite, Vinyl Siding
    • Foundation: Block
    • Roof: Shingle
    Condition
    • Updated/Remodeled,Above Average
    • New construction: No
    • Year built: 1939

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Electricity Connected, Sewer Connected, Water Connected

    Community & HOA

    Community
    • Subdivision: Fairmount Land Co
    HOA
    • Has HOA: No
    • Amenities included: Landscaping
    Location
    • Region: Bristol

    Financial & listing details

    • Price per square foot: $126/sqft
    • Tax assessed value: $68,000
    • Annual tax amount: $747
    • Date on market: 5/21/2025
    • Listing terms: Cash,Conventional
    • Electric utility on property: Yes
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