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200 E Watauga Avenue

Johnson City, TN 37601
  • $1,900,000
  • STATUS: Active
  • ON SITE: 48 Days
  • MLS #: 9962524
$1,900,000
  • 0
    BEDS
  • 0.54
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1920
County:

School Information

Elementary School:
Middle School:
High School:

Description

Attention Investors! Here is your chance to own 16 units in Johnson City, Tennessee. This complex is less than 3 miles from ETSU and less than 5 miles from Milligan University. This portfolio includes 3 separate buildings that have been converted into apartments. The addresses are: 200/204/206 E Watauga Ave. All together the property brought in an annual gross income of $138,820.77 for 2023. More units have since been remodeled and with current market rents, this property's forecasted annual gross income is $182,000. 200 E Watauga is composed of 6-1 bedroom/1 bath apartments. These units have separate electrical meters for each unit. 204 E Watauga is composed of 6-1 bedroom/1bath apartments. These also have separate electrical meters for each unit. 206 E Watauga is composed of 4 units with shared utilities. 1-3 bedroom/1bath apartment 3-1bedroom/1bath apartment The owner has spent over 200k in capital expenditures improving the units. This includes completely remodeling 6 units with new flooring, new paint, new updated bathrooms, new appliances, new custom cabinetry, new countertops, and new PTAC units when needed. The remaining units were updated/refreshed with new floor, new paint, and new appliances as needed. The property is being professionally managed by a local property management company (Casa Haven Property Management) and would be willing to continue to work with the new owners for a smooth transition. For initial showings buyers may see vacant units, and will be able to get into all units during the inspection.

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© 2024 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2024-04-04T00:00:00.233.
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200 E Watauga Avenue Johnson City, TN 37601

  • Price: $1,900,000
  • Status: Active
  • On Site: 48 Days
  • MLS #: 9962524
0
Beds
0
Baths
0
½ Baths
0.54
Acres
1920
Built
County:
Washington
Elementary School:
North Side
Middle School:
Liberty Bell
High School:
Science Hill
Property Description
Attention Investors! Here is your chance to own 16 units in Johnson City, Tennessee. This complex is less than 3 miles from ETSU and less than 5 miles from Milligan University. This portfolio includes 3 separate buildings that have been converted into apartments. The addresses are: 200/204/206 E Watauga Ave. All together the property brought in an annual gross income of $138,820.77 for 2023. More units have since been remodeled and with current market rents, this property's forecasted annual gross income is $182,000. 200 E Watauga is composed of 6-1 bedroom/1 bath apartments. These units have separate electrical meters for each unit. 204 E Watauga is composed of 6-1 bedroom/1bath apartments. These also have separate electrical meters for each unit. 206 E Watauga is composed of 4 units with shared utilities. 1-3 bedroom/1bath apartment 3-1bedroom/1bath apartment The owner has spent over 200k in capital expenditures improving the units. This includes completely remodeling 6 units with new flooring, new paint, new updated bathrooms, new appliances, new custom cabinetry, new countertops, and new PTAC units when needed. The remaining units were updated/refreshed with new floor, new paint, and new appliances as needed. The property is being professionally managed by a local property management company (Casa Haven Property Management) and would be willing to continue to work with the new owners for a smooth transition. For initial showings buyers may see vacant units, and will be able to get into all units during the inspection.
Exterior Features

Architectural Style OtherSee Remarks Attached Garage YN No Construction Materials Vinyl SidingWood Siding Exterior Features Balcony Parking Features Parking Spaces Patio And Porch Features Porch Roof Shingle View Mountain(s)

Interior Features

Appliances Refrigerator Building Area Total 8942 Cooling Window Unit(s)See Remarks Flooring VinylLuxury VinylHardwoodLaminate Heating See RemarksOther Heating YN Yes Interior Features RemodeledSmoke Detector(s) Levels Two

Property Features

Construction Site Built Yes Contract Info Auction No Contract Info Foreclosure No Contract Info Short Sale No Cooling YN Yes Documents Available [] Home Warranty YN No Listing Terms CashConventional New Construction YN No Property Condition Above Average Property Sub Type Multi-Family Sewer Public Sewer Water Source Public Zoning RO 1

Listing information © 2024 Tennessee/Virginia Regional MLS.
Listing provided courtesy of Matthew Mccrory of True North Real Estate: 423-210-4155.



© 2024 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2024-04-04T00:00:00.233.
 
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