108 Melody Lane (D-1, D-2, D-3) Bristol, TN 37620
4,299 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,299 sqft
Price per Sqft $91
Subdivision Holston Villa Town
MLS Listing ID 9998279
Style Townhouse
HOA Fees $180/mo
HOA Y/N Yes
Year Built 1986
Lot Size 0.300 Acres
Acres 0.3
Lot Dimensions 136X144 IRR
Property Sub-Type Multi Family
Source Tennessee/Virginia Regional MLS
Property Description
Excellent opportunity to acquire an income-producing investment portfolio consisting of three townhomes being sold together on one parcel in the Holston Villas community. D-1, D-2, and D-3. This portfolio offers stable cash flow with a proven history of reliable, long-term tenants and consistent on-time rental payments.
Each townhome features approximately 1,466± square feet--significantly larger than many comparable units in Holston Villas--offering 2 bedrooms, 2 full bathrooms, including a primary en-suite, an open-concept living and dining area, functional kitchen, front and rear patios, a dedicated laundry/storage room, and generous interior storage. Each unit has one spot plus plentiful overflow parking. Each unit has its own laundry room located off the bedroom.
Recent owner-funded capital improvements include a new roof (2024) and complete renovation of Unit D-1. A detailed maintenance history is available upon request.
The property is individually deeded and owned by Delta Management Properties, LLC and is located within the Holston Villas Homeowners Association. The parcel includes the corner of King College Road and Melody Lane, the upper parking area, and extends along the north side of the sidewalk. A boundary survey is available.
Current ownership maintains an independent insurance policy rather than participating in the HOA master policy. HOA is $180 per month for the all three units. It includes snow removal, shared dumpster, and grass cutting. Property tax information, insurance costs, survey, maintenance records, and additional financial documentation are available to qualified buyers upon request.
With oversized floor plans, recent capital improvements, established tenancy, and a strong rental history, this is an outstanding opportunity to acquire a stabilized, turnkey investment in the Bristol market. Located across the street from the new fire station and elementary school. A short drive or bike ride to King University. This investment has a very low history of vacancy.
Location
State TN
County Sullivan
Community Holston Villa Town
Area 0.3
Zoning B 1B / R 3
Direction From King University. Continue of King College Rd and turn left on Melody lane. Take first right into parking area. Park in D-1 or side lot.
Rooms
Other Rooms Storage
Interior
Interior Features Entrance Foyer, Laminate Counters, Open Floorplan, Remodeled
Heating Forced Air, Heat Pump
Cooling Central Air
Flooring Luxury Vinyl, Carpet, Hardwood
Fireplace No
Appliance Dishwasher, Electric Range, Microwave, Refrigerator
Heat Source Forced Air, Heat Pump
Laundry Electric Dryer Hookup, Washer Hookup
Exterior
Parking Features Deeded, Asphalt, Parking Pad
Community Features None
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Asphalt,Shingle
Topography Level
Porch Front Patio, Rear Patio
Building
Story 2
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Townhouse
Level or Stories 2
Structure Type Vinyl Siding
New Construction No
Schools
Elementary Schools Holston View
Middle Schools Tennessee Middle
High Schools Tennessee
Others
Senior Community No
Tax ID 021e E 001.00
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Nearby Locations
Larry C. LeSueur
Real Estate Professional, Realtor | License ID: TN 361390, NMLS# 2467587